Reuters reports today that

President Barack Obama launched a dialogue with corporate America on Wednesday over business tax reform, offering his first clear plan to cut the corporate tax rate, with little prospect of it becoming law in an election year.

The president proposed cutting the top corporate tax rate to 28 percent from 35 percent. This would address U.S. corporations’ long-standing gripe about the rate being too high. It is the world’s second-highest after Japan’s corporate rate.

In return for lowering the tax rate on businesses, the plan calls for broadening the corporate tax base by ending a number of tax breaks, some spelled out previously in Obama’s budgets, and most sure to be resisted by powerful corporate interests.

In a move partly to counter the unveiling of an economic plan by Republican presidential contender Mitt Romney, Obama’s proposal was rolled out at a briefing by Treasury Secretary Timothy Geithner, likely marking the start of lengthy negotiations.

“The current tax code was written for a different economy, a different era,” Geithner said. He plans to meet next week with members of Congress to try to win support for the plan.

“This process will take some time. It will be politically contentious, some will say these proposals are too tough on business, others will say they are not tough enough,” he said.

Complicating the effort will be the approaching congressional and presidential elections in November, as well as deep divisions in Congress that have prevented lawmakers from dealing effectively with tax and budget issues for many months.

One tax break targeted in the Obama plan is the “carried interest” loophole that lets managers of private equity and some other funds pay the 15 percent capital gains tax rate on much of their earnings instead of the 35 percent top income tax rate.

The plan also tries to reverse tax incentives for corporations to relocate jobs and research overseas, while giving domestic manufacturing operations a special tax break.

In a new twist, the president proposed imposing a minimum tax on corporate profits earned in low tax countries.

Chances of a deeply divided Congress revamping a tax system regarded as convoluted across the political spectrum seems remote in an election year. The announcement is certain to fuel debate in the run-up to November’s elections.

‘HELPFUL START’
The president’s plan “is a helpful start to the much-needed discussion about how best to reform the corporate tax code,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a deficit hawk activist group.

“However, it would be best to reform the entire code – corporate and individual – as well as major spending programs, to pass comprehensive fiscal and tax reforms at once. That would be a real boost to the economy,” she said.

Read more in Reuters

Join us: my.barackobama.com Dr. E. Faye Williams shares why she’s definitely in for 2012: “I’ve been very excited about this president since I first heard him at the Democratic Convention. President Obama: ‘I believe that we have a righteous wind at our backs. And that as we stand on the crossroads of history we can make the right choice and meet the challenges that face us.’ And I knew then that he was the person who would bring this country together and would be an inspiration to so many of our people. Not just African Americans, but all people. We’re blessed to have a president who is working to make thinks better and make opportunities greater. Despite the fact that he inherited so many challenges, he has not used that as a crutch. He has continued to try to work with the Congress. He’s tried to continue to be with the people to inspire them to keep their hope up. He went a long way, but he’d be the first to say there’s a long way to go. So I plan to do everything I can. I will make calls, I will go and register people, I will do everything in my power to make certain that we return President Barack Obama to office for four more years. So yes–I’m definitely in for 2012.”

Entérate: www.keepinghisword.com Hace cuatro años Barack Obama prometió crear una asociación con los colegios comunitarios. Como Presidente aseguró que todo material en la red, desarrollado con fondos federales, fuera gratis para estudiantes, invirtió $2 mil millones en becas para colegios comunitarios y exigió que estos colegios se asociarán con un empleador de la comunidad.

Jodi Fisher of Cayucos, California, who has inoperable cancer, is embraced by President Barack Obama upon his arrival at San Francisco International Airport in San Francisco, Thursday, Feb. 16, 2012.

Fisher was able to meet the President and fulfill a dream on what she calls her “wish” list. President Obama is spending the night in San Francisco attending a number of private fundraising events.

Jodi Fisher reacts to her daughter Callie, 11, after meeting President Barack Obama at San Francisco International Airport in San Francisco, Thursday, Feb. 16, 2012.
(AP Photo/Eric Risberg)

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ABC News in Everett-Washington reports that

In his weekly address, taped inside the world’s largest building at the Boeing Plant here, President Obama reprised a call for Congressional action aimed at boosting productivity and employment at U.S. manufacturers.

“In America, there’s always something we can do to create new jobs and new manufacturing and new security for the middle class,” Obama said. “In America, we don’t give up, we get up.”

Obama heralded the resurgence of the U.S. manufacturing sector, led by companies like Boeing, the nation’s largest exporter, and projected a sense of economic optimism that he channeled all week on a West Coast swing.

“America is more productive than ever,” Obama said. “And companies like Boeing are realizing that even when we can’t make things cheaper than China, we can make things better. That’s how we’re going to compete globally.”

Underscoring a theme from his State of the Union address that’s also become part of his pitch for a second term, Obama said companies need new tax incentives to keep the momentum going.


“It’s time to stop rewarding businesses that ship jobs overseas, and start rewarding businesses that create jobs here in America,” he said. “And Congress should send me that kind of tax reform right away.”

Read more in ABC News

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While Santorum starts to display sign of mental exhaustion or religion fanatism or both, The Huffington Post reports that:

President Barack Obama received tremendous support from advocates during his day-long visit to San Francisco on Thursday. But one overzealous fan gave the President a bit more support than he bargained for.

During an unannounced visit to Great Eastern restaurant in Chinatown for lunch, Obama paused for a photo opportunity with surprised staff and diners. Suddenly, one daring diner sidled up next to the President for a photo – with her hand firmly on his rear end.

Is this actually sweet to all of us, except First Lady Michelle?:)

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I still have this violent fever, caused by listening to the Mormons lies in the blog before?

Generally when something tragic happens to someone, and there is nothing more to do, this is what I usually think: I should have done more for that person.

I do not want to have to think that way about Israel. The media is not telling us the truth about Israel want the images I am getting about Israel are horrific.

Brethren, please pray for Israel. Let us ask God to remove Israel undeserved difficulties this year, in the name of Jesus Christ.

When I was living near Robertson Boulevard in Beverly Hills, if I had something to communicate to Israel, I will do it on the Sabbath in the afternoon when the Jewish Church is chanting their chants. There was no way, I was going to meet a Rabbi myself! I used this method to warn people about a plane crashing into the World Trade Center more than a decade ago, as well as talking about that spooky dream in a upscale Beverly Hills restaurant’s balcony. My Jewish friend was originally from New York City probably and knew that my gift was real then. What I am sensing about Israel these last 48 hours, how can I say it decently, is not less tragic than September 11; so I would be a monster to shut up or go into prayers alone.

Now, I again live in a prominently Jewish part of Paris, but I have no idea where the Jewish community gathers for prayers CLOSE to my house. Never underestimate the “presence of talking with God” in prayers in your life.

Entérate: my.barackobama.com Después de asumir la presidencia, el Presidente Obama firmó la Ley para la Recuperación para rescatar nuestra economía. Por eso: -Los Estados Unidos lleva 23 meses consecutivos de creación de empleos en el sector privado. -A lo largo de esos 23 meses, el sector privado creo casi 3.7 millones de empleos. -La industria de la manufactura ha creado 396000 empleos desde diciembre del 2009, con una tasa de crecimiento de empleos positivo en los últimos dos años, algo que no ocurría desde 1997.

“Let Detroit go bankrupt…no bail out for car industry and the reason why according by Mitt Romney in May 2010″.

Fortunately, Barack Obama gave a new life to the Michigan car industry by bailing it out.

Now, ask your children to close their ears when your TV set start talking about these 5 things defining Mitt Romney’s personality. Am I not lucky that my mother taught me this ear protection method; maybe I should write a book about it entitled “Mommy Lion Parenting”?, shouldn’t I? Let’s do directly to these unacceptable Romney’s particularities, and in any order:

- How to make money by destroying people who have less

- Do not bail the Car industry

- 2 videos to try and understand the “I am not concerned about the very poor” video. This is something that Mitt Romney, a presidential candidate in the making doesn’t know, and then again those 2 hands of anyone who is not 18 years old yet, back on the ears:
A Youtube description
Mitt Romney: The Very Poor have a satety net? Homeless Vet John Q. begs to Differ. John Q. is a homeless Gulf war Veteran. He has no safety net. he relies on old fashion fund raising (pan handling).

John Q. is not on drugs or drinks, nor does he have a mental illness, he is trying to stay alive. I know you don’t care about him Mitt Romney , but please understand, thru no fault of his own, he is very poor, and there is no safety net for poor men, Romney. None.
Its Video

Hey, Bill Maher? Who told you the part about Anthony Robbins in a Beverly Hills bar?

- Mormons believe that “Black people are cursed AND this cannot be changed”, while I strongly disagree. Warning: Viewer discretion advised.
Watch the removed video in Youtube.

Personally, I don’t even want to watch TV, the day that Romney can challenge Barack Obama, if unfortunately it turns out that way. That would be ultimately insulting! Although I know that no setback on the Election trail, will prevent Obama to be voted again, if the will of God backs Obama up.

I hope that Santorum the religious fanatic or Ron Paul the one who…exactly he is not easy to define, do their best and beat Romney, who is by the way getting advice on what to say to win through the Press. The media knows that if he lies or say the truth, he comes out the same, so they might as well have their shot at playing the Republicans game, as long as it last.

I have no regret that I am following these Republican’s fiestas of absurdities. We don’t want to deal with someone worse than Palin out there!

Before I blogged this, I was wondering why is Mitt Romney even going to Michigan. Supreme irony, isn’t it?

- Your children are also not supposed to hear about Romney’s dog trip to Canada. Dogs against Romney.

Seriously, this blog makes me sick.

Read more of the President’s Record on the Economy: my.barackobama.com Bill Butcher opened Port City Brewing Company in February of 2011 with the help of a Small Business Administration loan. This loan was made possible through the President’s American Recovery and Reinvestment Act–which was signed into law three years ago today. Bill, born and raised in Alexandria, shares how his expanding business is contributing to an economy built to last in Virginia.