OBAMAS DEFENDS TAX HIKES, PLEDGES T STEER CLEAR OF PROTECTIONISM

.
Members: Log in | Not Registered? Register for free extra services.

Click here to find out more!


Phoenix News, Phoenix Business Journal, Phoenix Newspaper
Choose Another City:

Site | News | Companies | Jobs
Search Archive


Home News
Latest News This Week in Print Most Viewed Stories Most Emailed Stories Download E-dition Washington Bureau Special Reports News From Other Cities Contact the Editor
Small Business Sales & Mktg Real Estate
Commercial Real Estate Property Search
Events
Business Events Calendar Nominations Event Registration
Community
My Dashboard My News My Friends Invite Your Friends Find Members
Careers
Job Seekers Employers Post a Job
City Guide
Business Travel Center Phoenix City Guide
More Topics
Accounting & Consulting Agriculture Banking & Financial Services Bankruptcies Economic Snapshot Education Energy & the Environment Green Health Care Human Resources Insurance Legal Services Logistics & Transportation Manufacturing Media & Marketing Residential Real Estate Retailing & Restaurants Sports Technology Travel Industry

* AZ economic stats
* Classifieds
* Book of Lists
* Subscribe - 4 Free Issues

Latest News
Subscribe to Phoenix Business Journal Subscribe to Phoenix Business Journal
Phoenix > News > Industries > Human Resources
Friday, March 13, 2009, 9:19am MST
Obama defends tax hikes, pledges to steer clear of protectionism
Phoenix Business Journal - by Mike Sunnucks

* Print
* Email
* Reprints
* RSS Feeds
* Add to Del.icio.us
* Digg This
*
Comments (2)

Other Matching Articles for
"american express"

* Chase, American Express, GM, Verizon CEOs meet with Obama [03/12/2009]
* American Express expands use to restaurants, gas [02/25/2009]
* American Express wants some cardholders to cancel [02/24/2009]
* American Express wants some cardholders to cancel [02/24/2009]
* American Express wants some cardholders to cancel [02/23/2009]
* > More Search Results

President Barack Obama defended his tax increases on those making more than $250,000 a year to a contingent of CEOs Thursday and promised not to let the recession steer a course toward protectionist trade policies.

Obama met with members of the Business Roundtable, which includes CEOs of some major companies with operations in Arizona: JPMorgan Chase & Co., American Express Co. and Motorola Inc.

Obama defended his plan to raise the top federal income tax bracket from 35 percent to 39.6 percent for couples making $250,000 or more. Small-business owners have been criticized that plan, saying it will not help job growth or investments. They also disputed the determination that $250,000 in income is considered rich.

Obama's tax plans also would raise some investment taxes.

"For the top 3 percent of all taxpayers — and I'm just going to take a shot in the dark and guess that includes some of the people in this room — the top tax rate across the board will still be lower than they were during the prosperity of the 1990s," Obama told the CEOs.

"It will still be lower than they were during the (Bill) Clinton era. You will pay a tax rate on capital gains and dividends that is also lower than it was during most of the 1990s," he said. "And the revenue that results from these changes will reduce the deficit by $750 billion over the next 10 years."

Obama got a warm reception from the CEOs.

Congressional Democrats and the Obama administration have been highly critical of bank and other CEOs in light of the troubles in the banking, lending and housing sectors.

The president added he would try to keep the U.S. and other countries from moving toward trade restrictions favored by labor unions and other Democratic Party constituencies. Tariffs and trade restrictions were blamed for turning a recession in the 1930s into the Great Depression.

"I think everybody understands sort of the history of the Great Depression," Obama said. "So far, at least, we're seeing some movement to contain protectionist sentiments in these various domestic markets, but we have to build on that. And I think having a strong statement that encourages trade and making sure that there are sufficient credit lines for trade, because that's one of the big problems that we've seen right now in terms of world trade ... the traditional mechanisms for lending that facilitate trade have really contracted."

NOTE: obamas think that having a strong statement that encourages trade and making sure that there are sufficient credit line for trade.

* Print
* Email
*
Yahoo! Buzz


Reader Comments
(2) Comments
Rob Schumacher March 13, 2009 5:15PM EST
Top 3% of tax payers, that happen to pay 11% of taxes. Wait now they pay more but I dont have those numbers yet. Trickle down taxes, nice
Zyskandar Jaimot March 13, 2009 1:10PM EST
'the OBAMA' as PRISSY in 'Gone-With-The-Wind'/HILLARY naturally as Mistress SCARLETT...***scene - the evil economic wind swept through leaving millions injured/dead prostrate on stretchers awaiting catastrophe***take 1 - action'The OBAMA' as PRISSY crying, weeping:"Miss SCARLETT Ise dunno nothin about no STOCK MARKET or no EECHONOMIKS or BANKSTUFFS - Ise wents to HARVARD!!!"HILLARY with her asbestos-pants-suits paid for by the Jews she has just sold-out slaps the uppity Negro house servant PRSISY in the face:"SHUT-UP FOOL. Just 'rig' the cattle-futures option's market with someone else's money like I did - and all of us 'insiders' will make bucks FRIG those other JOBLESS SUCKAHS - Treat these bankers like the fools they are just axsk(ebonics spelling) BOBBY RUBENSANDWICH at CITBANK how big a moron he was/is???!!!"***scene end - the destruction of 'free' capitalism in AMERIKA***Posted by Jaimot's Jargon at 4:00 AM
Comments 1 to 2 of 2
Page 1 of 1
You must be logged in to add a comment. Please Login or Register.
Welcome
Add your comment here:


logout here
Help us stop spam!
Enter the text below into the box:

Can't read this?

Contact the Editor Need Assistance? More Latest News

* More News Headlines
* Popular News Stories

Related Industry News

* Kadant pays bonuses despite financial dips [Albany]
* 7 states post jobless rates above 10% [Buffalo]
* 7 states post jobless rates above 10% [Baltimore]
* Dresser Wayne cuts 10% of employees [Dallas]
* 7 states post jobless rates above 10% [Pittsburgh]


Latest News

* Arizona Corporation Commission issues cease and desist order against Radical Bunny
* ASU economist: Stimulus fund distribution may not match states' employment needs
* Phoenix-area home resales jump in February, mostly because of foreclosures
* Board backs iGo CEO, plans to stay the course after investors raise questions
* Obama defends tax hikes, pledges to steer clear of protectionism

Most Viewed Stories

* Sources: KTVK drops 'Good Morning Arizona' personalities Brad Perry, Dan Davis
* Banner Thunderbird to hire 800 through 2011
* Obama administration targets Arpaio
* Arizona named 10th 'happiest' state
* Ninth Circuit upholds Arizona employer sanctions law


Most Emailed Stories

* Arizona Corporation Commission issues cease and desist order against Radical Bunny
* Bashas' revamps landmark store in Fountain Hills
* Banner Thunderbird to hire 800 through 2011
* Survey: 69% of U.S. small businesses profitable last year
* DeVry plans West Valley school, Mesa next

Business Pulse Survey
When do you next expect you will make a major purchase (car, house, boat, etc.)?

City Guide Spotlight - Phoenix
Phoenix

* Attractions in Phoenix
* Cocktails in Phoenix
* Hotels in Phoenix
* Restaurants in Phoenix


Extra
Best sports teams
We rank the best sports teams -- by both records and receipts.

* Survey: What is your favorite sport to watch?


Click here to find out more!
Click here to find out more!
Search Press Releases

* View all Phoenix Press Releases
* View ALL Press Releases

Search by Company, Organization, or Keyword

Content provided by PR Newswire. Learn more about this service.

Search for Jobs powered by onTargetJobs
View Phoenix Jobs - 914 jobs today
Small Business Center

Successful profiles, funding news and advice related to small business
Visit the Small Business Center
Sales & Marketing
Sponsored by Hoovers®

Research companies and get powerful sales tools to help you succeed
Visit the Sales & Marketing Center
Commercial Real Estate

Stay up to date on the latest news from within the commercial real estate industry
Visit Commercial Real Estate
Beating the Recession

News, analysis and ideas that defy the odds and the times
Visit our Beating the Recession page
Email Alerts

Get the latest local business news delivered to your inbox. Sign up Today!
powered by
Featured Phoenix Jobs

* Commission Driven?
* Physician Assistant
* DIRECTOR OF CATERING
* Urology
* REGISTERED NURSE CVICU

Search Jobs | Post Resume | View More
Post a Job | Feature a Job
FEATURED RESOURCE


Post a Job & Receive a FREE Premium Salary Report
Post a job online with bizjournals.com and get a PayScale Salary Report - FREE (a $99 value)! Report contains:

* Salary & Hourly Rates
* Bonus & Benefits
* Skills, Experience & Education


Click here to redeem this offer

Phoenix Real Estate
powered by LoopNet

* Featured Property
* Rate: $7.39-$7.39
* Building Size: 8,855 SF
* Use Type: Lease

* More Phoenix Real Estate

Phoenix Business Directory



Use of, or registration on, this site constitutes acceptance of our User Agreement and Privacy Policy.
ONLINE:
home | business news | small business | sales & marketing | real estate | events | community | careers | city guide | advertise | about us | rss
PRINT:
subscribe | advertise | book of lists | classifieds | download e-dition | article reprints rights | purchase single copies
AFFILIATES:
Portfolio | SportsBusiness Journal | SportsBusiness Daily | Sporting News | Mass High Tech

© 2009 American City Business Journals, Inc. and its licensors. All rights reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of bizjournals.