Obama promotes infrastructure plan at Miami port

[IDemo]

Source: BBC News

US President Barack Obama is appealing for private funds for infrastructure projects, in a bid to create jobs.

On Friday, Mr Obama will outline his plans at Port Miami, which is undergoing a $2bn (£1.3bn) upgrade.

He is expected to announce $4bn in loans and grants for infrastructure projects, officials said.

His administration will propose tax breaks for foreign pension funds that invest in US infrastructure, and other incentives, the White House said.

Read more: http://www.bbc.co.uk/news/world-us-canada-21975099

[AdHocSolver]

1. More tax breaks to cover the loss of revenue from previous tax breaks.

This plan is nothing but a backdoor method to privatize American infrastructure and pass ownership to foreign nationals, and have the American taxpayer cover the lost revenue.

NOT a very smart move.

The tax payer loses twice. Private ownership means that any revenue generated from user fees goes to the private sector. The existing government deficit is NOT diminished by this "investment".

Secondly, giving tax breaks to private corporations means that future tax revenue is not forthcoming. The loss of future revenue amounts to an effective tax increase on the taxpayers since the government ends up paying out more interest on the borrowed money to cover the lost revenue.

[RC]

2. Anyone still believe Obama is a Liberal?

Or is this just more n dimension chess?

[Cal Carpenter]

3. Private foreign pension funds?

For infrastructure?

Come the fuck on.

Foreign interest in US ports and other infrastructure is not new, I know. But it's punch-in-the-face neoliberalism.