| |
|
| |
Aug 08, 2010 6:31 am |
|
re: Obama Administration's Small Business Policies Are Nothing to Cheer About ..... |
Scott Allen
| |
I agree with pretty much everything in the article, but...
She basically focuses on only one issue and then paints Obama with a big sweeping "anti-small-business" brush, which is neither fair nor accurate.
On the flip side, consider Obama's proposal for no capital gains on qualified small business stock:
http://www.startupcompanylawyer.com/2009/05/13/obama-proposes-no-capital-gains-tax-on-qualified-small-business-stock/
Not only would this be a tremendous boon to investors, and therefore help get more cash into the hands of entrepreneurs, it would also make the bulk of the money made by founders of successful startups potentially tax-free.
Of course, there's a catch: the stock has to be held for five years, so this wouldn't any of those super-fast cashouts.
Point is, in the current economic climate, any president would probably be making some decisions that are good for small business and some that aren't. Such is the nature of a pluralistic society.
Consider George W. Bush. Did you know that under the Bush administration, the budget of the Small Business Administration was cut by over 50% -- more than ANY other federal agency? This was INSANITY. Remember, the SBA doesn't actually lend or give out money -- just secure the loans so private lenders will. In 2008, charged off loans cost the SBA about $9 billion on disbursements of $150 billion. Imagine how much cash even a fraction of the $85 billion AIG bailout run through the SBA could have put into flow in the U.S. economy. For that matter, how about if it hadn't been withheld from the small business sector in the first place?
So it's been a while since any president was really doing entrepreneurs any significant favors, and yet we still continue to be the lifeblood of the economy.
Scott Allen FREE Webinar Aug. 10 - High-ROI Social Media: http://OneCoach.com/call
Private Reply to Scott Allen (new win) |
|
| |
|