"I hate small businesses. They should become terrorists instead, if they want my blessing."
Posted on 02/07/2009 12:37:47 PM PST by reaganaut1
As a huge stimulus package wends its way toward President Obama’s desk, business owners say that all they really want is cash in the tills to be able to survive and then help propel the economy out of recession.
The $819 billion bill passed by the House last week and a similar measure under consideration in the Senate simply do not go far enough to bolster the small-business sector, owners and those who lobby on their behalf say. “Small businesses are a job engine for the economy,” said David French, vice president for government relations at the International Franchise Association. “Unfortunately,” he said, the stimulus package offers “a thimble-full of fuel for this engine.”
By his estimation, only 0.05 percent of the House bill is dedicated to small-business lending programs, and the Senate version is only slightly better. “It’s not a lot of money relative to the scale of the credit market problems,” Mr. French said.
Sure, said Victoria Braden, chief executive of Braden Benefits Strategies in Atlanta, some provisions like extending tax credits and accelerated depreciation from last year’s assistance package will help. “But it’s not enough to stimulate the kind of growth we need,” she said.
...
What is not included in the stimulus plan, but could help, is a reduction of the highest tax rate, Mr. Fredrich said. Many owners pay income tax at the personal level, as he does, so it would be money in their pockets to reinvest.
“That would have an immediate effect,” Mr. Fredrich said, as would a payroll tax holiday, which is also not included.
Terry McGill, who owns a commercial and industrial painting operation in Omaha, would welcome a six-month payroll tax holiday, something advocated by the National Federation of Independent Business.
(Excerpt) Read more at nytimes.com ...
Small businesses don’t fill congressional camapign warchests. It’s really as simple as that. No one should mistake this “stimulus” as anything other than a payoff to campaign donors.
McHugh wants the IRS to give back 5 to 10 years of income taxes paid by individuals and small businesses, with the understanding that it will first be used to pay down debt. What's left can be spent or invested. It's the size of debt that is holding us down, and until that debt is addressed, nothing is going to help.
"I hate small businesses. They should become terrorists instead, if they want my blessing."
Intended for whom? I tried once to get a small business loan and was told
that unless I was BLACK, they wouldn't help me. That was the SBA in Houston 1995.
Huh? If that's the case, then why didn't the Los Angeles SBA give me a small business loan when I asked for one in 1999?
Hell, being a minority business person hasn't brought me any perks whatsoever.
Maybe I should have yelled "racism", eh?
/Salute
This is all anyone needs to know.
This stimulus-porkulus is wrong, I tell you.
M.O.C.K.
Mugabe, Obama, Chavez. Kim Jong Il:
The “Financial Leaders” of Our Time?
Let's face it if you have a private small business you are obviously not the type to stand for big government, taxation and meddling. I think the entrepreneur we be the first into the OBAMA re-education camps. We are not a constituency of the left. Just a goody bag.
I call the government my "silent partner" that does nothing for me, in fact it does everything to hurt my business(global warming scam) but never fails to take its cut(55%) before I even get paid!
No, you’ll just be forced to hire certain people, ‘to help keep an eye on things.’
Then of course you’ll be encouraged to let government officals ‘help you out’ and you’ll be an impotent figurehead.
I think our own party just pulled out the Payroll Tax Holiday as part of the negotiations to lower the cost of the stimulus bill? Is this true? As for SBA, SBA has to guarantee more loans provided by banks and lower their fees
Funny. It was just yesterday that I was thinking the real key to getting the economy back on track would be to unleash a ton of money on small businesses. Money to train people on how to start a SB, money to get it off the ground, etc. would go a long way to lowering unemployment.
If only he could, he would. They'd probably just kill me since I've been
self employed and contractor for all of my adult life without any
Government assistance or loans. Thank God.
/Salute
Holy sh$t that sounds like a good idea for the bail out crowd. Easy way to eliminate business deductions or
My wife and I opened our business in 1997, and first sought an SBA loan a couple of years later.
Even though we were a Woman/Minority owned small business, no one treated us with any special consideration. We couldn't even get the SBA to return our calls, or get back to us about our applications. It was like pulling teeth to get an answer of any kind from them.
When they finally did answer us, we were told that our personal credit wasn't good enough for them to work with us.
We've never sought government help from that day forward.
These days we're really hurting, but I'm in no mind to be an accessory to theft by accepting confiscated dollars from them.
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