Word: plan
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...Obama is not giving up on the idea. On Friday, Jan. 29, at an event in Baltimore, he fleshed out his idea for a job-creation tax credit, saying it would induce companies to hire workers. Under the Obama plan, businesses would reportedly get a $5,000 tax credit to offset payroll taxes for each new employee. Companies would be eligible for a tax break if they raised salaries for current workers or increased employee hours. While the tax credit is open to companies of any size, the maximum tax benefit an individual firm can receive is $500,000. Obama...
...support the tax credit say that, as with those earlier programs, the percentage of companies collecting the tax break who are hiring because of the job stimulus will be very low. John Bishop, who teaches about human resources at Cornell University and has proposed a job-creation tax-credit plan, says about 80% of any tax credit for new hires would go to companies that would have added workers anyway...
...comments about the uselessness of financial innovation and the remorselessness of Wall Street. He was also making cagey references to his lack of influence with Obama, for whom he was chairing an obscure economic-recovery board. Congressman Paul Kanjorski says that last March, when he pitched Volcker on a plan to let regulators break up big banks that threatened the financial system, the former Fed chair said, "I'm out of vogue right now in the White House ... but I agree." Volcker secured his walk-on-water reputation by taming runaway inflation in the late 1970s, jacking up interest rates...
Read "Is Obama's Financial-Reform Plan Bold Enough...
...global history." On top of government outlays for new infrastructure and tax breaks, Beijing most significantly counted on massive credit growth to spur the economy. The amount of new loans made in 2009 nearly doubled from the year before to $1.4 trillion - representing almost 30% of GDP. The stimulus plan worked wonders, holding up growth even as China's exports dropped...