Posted on 03/04/2009 6:38:29 PM PST by Kaslin
In his address to Congress last week, President Obama acknowledged the vital role entrepreneurs play in our economy when he said that the answers to our problems lie at least partially "in the imaginations" of these enterprising souls.
Later in the speech he announced a new loan fund designed to help finance "entrepreneurs who keep this economy running."
A few days later, however, the President released a new budget with sharply higher tax rates for upper-income households, which will ultimately mean higher taxes on entrepreneurial earnings, and higher taxes on the capital that finances startups.
Entrepreneurs who heard what the president said, and then saw his budget, can be excused for recalling what T.S. Eliot once observed in a different context: "Between the word and the deed falls the shadow."
Lately, America's entrepreneurs are wondering just how dark the shadow will get for them. And the rest of us should wonder what kind of an impact our federal policies will have on entrepreneurial activity, and by extension on the economy in general.
There's little doubt that the president was correct that entrepreneurs help drive our economy. Startups accounted for about 3% of all jobs in the U.S. economy annually from 1980 through 2005, according to new business dynamics research by the Bureau of Labor Statistics and the Kauffman Foundation. Given that annual job growth averaged 1.8% over that time, the net jobs added by new ventures proved vital to our economy's advances.
(Excerpt) Read more at ibdeditorials.com ...
There, fixed it.
I wonder what Georgie Soros’ tax return looks like.
One can still be an ‘entrepreneur’ under these circumstances, no matter what this jerkwater does to us.
However, THIS ‘entrepreneurial’ household will work for themselves even if it means working 24/7 to bring in projects on time and under budget.
We WON’T be hiring others.
(Actually, this strategy works no matter WHO is in the White House and no matter WHAT lame-o’s are running Congress.)
I betcha it’s full of loop holes
took the words right out of my mouth
He’s a Democrat, he doesn’t have one, remember. Only regular people pay taxes, silly. ;)
Yes, that is the plan. The quicker to kill off capitalism.
I have a small business.
I will not work as a slave.
DUH
>> Planned Tax Hikes On ‘The Rich’ Will Hurt KILL Entrepreneurial Growth
Entrepreneurs being entrepreneurs and all, I predict that entrepreneurs (I love the sound of that word, can you tell?) will figure out a clever way to have their cake and eat it too.
Avoid Bambi’s taxes but keep the good times rolling, in other words. I don’t what they’ll come up with, exactly, but they’re entrepreneurs and they will pull it off.
Bambi sad, entrepreneurs glad. Bet on it.
Meanwhile Geithner will still be just a tax cheat who can’t run a simple computer program.
Exactly! We have all next year to plan it too.
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Yep.
And then there’s always that old gem - cash.
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