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| Name: |
GoneFishin
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Martini, you like this?
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Date:
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10/11/2008 8:20:24 PM
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Unlike McCain, who wants to give $200 billion in new tax cuts to the largest and most profitable businesses, Obama wants to cut taxes for the small businesses that create jobs.
Her is the plan he has announced. What don't you like?
Just as was done after 9/11 when businesses were facing economic injury, Obama is calling for the Small Business Administration to directly lend to small businesses that cannot access other sources of capital.
Zero capital gains rate for small business - Obama will eliminate all capital gains taxes on investments made in small and start-up businesses. .
Temporary tax incentives to encourage investment in jobs -Obama will give small businesses additional incentive to make investments and start creating jobs again by providing temporary business tax incentives through 2009. This will be accomplished, in part, by the extension of IRS code section 179 expense deduction to $250,000 which now expires in December 2008.
New tax credits for employee health care costs - The Obama Small Business Health Tax Credit will provide a refundable credit of up to 50% on premiums paid by small businesses on behalf of their employees and to small businesses with no employees.
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| Name: |
MartiniMan
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| Subject: |
Martini, you like this?
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Date:
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10/12/2008 8:39:25 AM
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GF, why is it that the Federal government through tax schemes alwaysa has to tell business what to do with their money. All of these ideas sound plausible until you really examine them in light of the reality of running a small business. Of course I will take advantage of every tax credit I can but remember, I have to have the CASH in the first place. If I am making huge quarterly estimated tax payments and then waiting until the end of the year to get some tax credit returned to me it severly limits the usefulness. More below.
Just as was done after 9/11 when businesses were facing economic injury, Obama is calling for the Small Business Administration to directly lend to small businesses that cannot access other sources of capital.
I actually looked into these loans and they were a joke. They place som many restrictions on the borrower that you might as well have the Federal government as your partner.
Zero capital gains rate for small business - Obama will eliminate all capital gains taxes on investments made in small and start-up businesses. .
This makes no sense. What does it mean to have zero capital gains?? Capital gains only happen when you sell the business!!! How does this help me grow and create jobs?!?! This is another joke that sounds good to the economically illiterate but in reality doesn't do anything to create jobs.
Temporary tax incentives to encourage investment in jobs -Obama will give small businesses additional incentive to make investments and start creating jobs again by providing temporary business tax incentives through 2009. This will be accomplished, in part, by the extension of IRS code section 179 expense deduction to $250,000 which now expires in December 2008.
This option has been on the table for quite some time and by my reading has had quite a good hearing already so no credit goes to Obama for glomming onto it.. But once again I come back to my main point. IT'S MY MONEY IN THE FIRST PLACE!!! Why just not let me keep more of it rather than the government deciding what behavior I need to engage in to be allwoed to keep what is mine in the first place!
New tax credits for employee health care costs - The Obama Small Business Health Tax Credit will provide a refundable credit of up to 50% on premiums paid by small businesses on behalf of their employees and to small businesses with no employees.
Same comment as above. Why not just drop tax rates rather than creating all these alleged credits? And besides, any of these alleged tax credits always come with som many restrictions as to render them useful.
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| Name: |
Swimmer27
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Martini, you like this?
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Date:
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10/12/2008 4:03:32 PM
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Because then he couldn't buy votes from the ingorant!!!
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