Getting Down to (Small) Business
However, there is a faint silver lining. Congressman Walt Minnick (D-Idaho) and Congressman Aaron Schock (R-Illinois) have partnered, and the way the left is wringing its hands over Minnick, they may be on to something. Both of these congressmen are businessmen. While they have different ideologies, they agree on what makes business thrive.
Schock and Minnick are proposing a six-month tax holiday that would apply to businesses with 50 or fewer employees. Small businesses are the most likely to be hiring right now if given the additional resources and the incentive to do so. That would mean about $120 per employee per pay period. That money would go to the employer and would be required to be reinvested into their business. However, employees would also receive a rebate on their portion of the payroll tax, thereby also putting money back in consumers’ pockets. This is a win-win situation.
Many think there is no chance this initiative will pass. But this is the right answer and if coupled with pro-business initiatives it could make a difference. I am aware that Congress isn’t pro-business right now, but with the continuing job losses, Blue Dog Democrats will soon have to partner with some Republicans in order to pass pro-jobs legislation.
Sitting presidents usually lose seats in the midterm elections and if the economy doesn’t show some hint of progress, President Obama will lose part or all of his majority in Congress. The American people and the European leadership agree that more stimulus spending is not the answer. Only President Obama needs convincing. He doesn’t have a small business frame of reference but he’d better get one soon. Small business will bring this economy back.
AMEN. My husband and I have owned a small business for over 20 years now…we are feeling the pain but we trudge along and keep our employees employed and work are butts off hoping for the best. Obama wants to wipe out the middle class… TRUTH.
Our buts not ‘are’ butts.
Meh. I need to sleep. lol
“He doesn’t have a small business frame of reference but he’d better get one soon.”
He does not have experience in anything !
POTUS is not the position for on the job training.
I know nobody has POTUS training,but a POTUS should at least have run a business or managed people in a real job.
Maybe have a voting record with a position in his previous job as a senator.
Even a girl scout or boy scout has a much better grasp on economics than this community organizer will ever learn from his law breaking tax cheat cabinet .
The world knows how all this is going to play out and the sheep that elected him are blind to facts.
Being a libertarian minded student I have to ask what does “simplifying regulation” even mean?
Joe the Plumber exposed his troo intent.
The primary safe haven for tax exemption in small business is drugs and prostitution.
Don’t you find it crazy you said “European leadership” (ALSO) doesn’t agree? Snice when do they dictate how we run our economy? Snice when does what they think matter? Though, I do agree with the “American people” when it comes to another obama stimulus spending bill.
I am convinced the former Community Organizer is a psychic vampire; he drains the life force of all around him like a parasite.
Wipe out small business. Herd all workers into unions at large corporations that are politically dependent and connected to the federal government. Make the unions dependent on the federal government for favors. Bingo, we have a corporatist state, with everyone at every level somehow beholden to the federal government.
TO: Martha Zoller
RE: Targeting Small Business
“Obama is proposing tax hikes on small businesses, but they’re the ones currently creating jobs.” — Martha Zoller
They are the latter-day kulaks. They are too numerous to ‘buy’, i.e., control, via the ‘bail-out’ monies, see what happened to the CEO of GM and how Obama won’t accept returned funding from banks.
So they have to be done-in by taxation, as they’ll compete with government controlled big-business. Just like Lenin did in Russia in the late 1920s.
Regards,
Chuck(le)
[History repeats itself....]
Good points in the article. Anyone who looks at the situation for small business should be terrified, as that’s the economic pipeline of our country – i.e. some of today’s small businesses will be tomorrow’s industry leaders. Small companies are clobbered by taxes and regulations and don’t even have a chance. Venture capital in this country is basically dead and all of the IPOs are going to London.
Big businesses are actually better prepared for Obamanomics because they can change their financial structure, move resources offshore, lobby for tax breaks, etc. Look at Google, they’re trying to grab a share of stimulus money and at the same time setting up a development center in Prague. That’s how you play the game.
But small businesses have no defenses at all and the instant they become even a little successful they end up in an almost 50% tax bracket. Nobody is going to risk their savings to start a company when half of the profits will just go to the government.
What the Obamabots do not understand: that businesses and industries have life cycles. Large corporations are net job shedders. They have arrived at a point where, in most cases, they can only grow the bottom like by cutting costs.
Small, entrepreneurial companies are where most of the net job creation comes from.
Ask anyone in my line of work. I do stock research for a living. I B-School we learned about these cycles, and in the real world we see this play out all the time. Only people who have no background in economics, business and finance understand this. And Obonga is one of those people.
Obonga is a four-year-and-out president. I think it’s pretty obvious to smart people who are sizing up the situation as it really is, without bias or an agenda. But first a lot of the 53% who voted for him are going to have to be slapped hard by reality. We don’t need to get all of them. Just a very large minority of them will be more than enough to overcome last year’s margin of victory and even ACORN’s efforts at sabotaging elections.
We just have to hang in there. Work hard. Survive. In our own ways make a difference. These are going to be very trying times, on the economy and in foreign policy. Hang in there. We are not defeated yet.
The new administration, it’s bureaucracy, and our congressional “leaders” are spiraling our nation into socialism, communism, totalitarianism,tyranny, and marxism collectively and simultaneously. Get rid of them all, since they will never accept term limits, then throw them out with your vote over and over again until the public servants get it! If you have children and grandchildren and you continur to sit on your laurels while they systematically destroy your children’s future, you are no better than a they are and a poor representative to your own flesh and blood. Shame on US!
This confuses me.
“This seems like a logical enough statement, but you have to look deeper to discover the truth. Most small business owners pay taxes on their profits by filing their taxes on the standard 1040 form. In addition, most of these family-owned business incomes fall well under the Obama administration’s $250,000 per year benchmark. If the small business policies are instituted as proposed, most of these families will pay more taxes, not less.”
There is a leap that is not substantiated.
What policies to be implemented will make someone using a 1040 form pay more taxes?
I’m with Gary @ #13… someone explain this please.