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| Obama's Small Business Tax Credit For Hiring New Employees….Don’t Be Fooled | Views: 616 |
| Feb 16, 2010 3:59 pm | | Obama's Small Business Tax Credit For Hiring New Employees….Don’t Be Fooled | # |
Michael Lemm | |
Obama’s proposed tax credit for small business hiring new employees sounds good ….. but it’s all noise. If you sit back … separate rhetoric from reality … you should easily see that this is not going to work. So what will?
Read the rest of the article here:
http://small-business-resources-cafe.blogspot.com/2010/02/real-affect-of-obamas-proposed-5000-tax.html
A $5,000 tax credit for hiring someone is like offering a $5 rebate for the purchase of at $2,000 flat screen TV. I'm just not motivated by the $5 rebate even though I would love to have the TV.
God Bless,
Michael Lemm
FreedomFire Communications
http://DS3-Bandwidth.com
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| Feb 17, 2010 3:00 am | | re: Obama's Small Business Tax Credit For Hiring New Employees….Don’t Be Fooled | # |
Kurt Schweitzer | | The blog post that you link to is based on a NY Times article that's over two weeks old. A lot of things have changed in that time. The most recent version was stripped down by Senate Majority Leader Harry Reid. The four provisions left in the bill - a Highway Trust Fund extension, a new-hire tax break, a small-business expensing tax credit and a continuation of the Build America Bonds program - are bipartisan proposals that should draw GOP support.
This is an issue I have a hard time getting too emotional about. For instance, the one detail I've heard discussed - specifically the reduction or elimination of payroll taxes on new hires for the first six months - has some appeal to me as an employer. Those taxes make up roughly 8% of my personnel costs (since I don't pay any benefits). That's $800 on a $10/hr. worker.
The amount is significant, but not so much that I'd hire someone simply to get the tax break.
When you get down to it ALL tax breaks are that way - just another item to factor into a business decision. It may or may not be the tipping point.Private Reply to Kurt Schweitzer |
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