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Obama Administration's Small Business Policies Are Nothing to Cheer About ..... Views: 721
May 30, 2010 8:33 pmObama Administration's Small Business Policies Are Nothing to Cheer About ..... #

Michael Lemm
Katie Packer writes a rather eye opening article on the affects of actions and policies by the Obama Administration on Small Businesses.

It certainly isn't all peaches and cream.

It's a rather long piece so you can read it all here:

http://www.townhall.com/columnists/KatiePacker/2010/05/29/obama_administrations_small_business_policies_are_nothing_to_cheer_about


God Bless,
Michael Lemm
FreedomFire Communications
"Helping YOUR Business ..... DO Business"
http://mscprez.ld.net
http://Small-Business-Resources-Cafe.blogspot.com

;;;;;;;;;;;;;;;;;


Private Reply to Michael Lemm

May 31, 2010 3:23 pmre: Obama Administration's Small Business Policies Are Nothing to Cheer About ..... #

Ken Reid
Obama's plans are nothing short of bringing this country to complete ruin. Small businesses are already struggling to survive. Large businesses have received billion dollar bailouts from the very government that is claiming it has no money. Unemployment is rising in all sectors. Sure, maybe a few jobs are being created - that pay minimum wage. Jobs are being sent overseas in droves, which creates even more unemployment.

This country has for a long time built up other nations instead of strengthening its own economy and backbone. Now, other countries are coming into this country and buying up our businesses, sending all the work to their own countries. Most manufacturing jobs are now sent somewhere overseas. Most customer support is overseas. Too many jobs have been shipped overseas for one reason and one reason only. That reason is to "save money" so that executives can continue to get bigger and bigger raises and higher salaries while the people that make these companies profitable - the rank and file employees - are being thrown to the wolves, making less and less money to the point they can no longer survive on what they earn.

I'm an accountant with over 25 years experience. I own my own practice. I have seen nothing but a declining market since Obama took office. Tax laws are more complex than ever before. Businesses are being squeezed with new regulations like never before. Jobs are harder and harder to find because of the new "Obama legislation".

I hope people in this country will wake up before it is too late, if it is not already too late, and start taking this country back. Politicians have run this country in such a way that this country can no longer survive in its current state. Too many people in this country are complacent and don't care what is happening all around them because they think it will not affect them.

WALE UP PEOPLE. This country has allowed politicians to put us into a pot of water that was comfortable when we were first put into the water. That water is now close to boiling, and we are all in danger of being "cooked alive".

Kenneth Reid, ATP, CPB, CPP
President
MasterType Accounting & Business Services, P.C.
Chicago, IL


Private Reply to Ken Reid

Aug 08, 2010 6:31 amre: 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

Aug 08, 2010 1:55 pmre: re: Obama Administration's Small Business Policies Are Nothing to Cheer About ..... #

Scott Wolpow
There is now a law that requires all businesess to collect a 1099 for any vendor they:

Payments of $600 dollars or more to contract employees, independent contractors and/or consultants, physicians, physician's corporation, or other providers of health or medical services, purchases of fish for resale, and crop insurance proceeds
Payments of $10 or more for royalties, substitute dividends and tax exempt interest
Payments of any amount to attorneys and crew-members of fishing boats
Payments of any amount to persons subject to the backup withholding rules
Sale of $5,000 or more of consumer products for resale anywhere other than a permanent retail establishment

This is a lot of extra paperwork for the small business owner.


Private Reply to Scott Wolpow

Aug 31, 2010 8:22 pmObama Administration's Small Business Policies Are Nothing to Cheer About ..... #

Mike Fesler BizHarmony
Visual representation of the growth of unemployment

Change, voted for. . ..
Change we are getting.

Please see:
http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html


Blessings,
M.


Private Reply to Mike Fesler BizHarmony

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