Quote:
Originally Posted by Milkman  Here are some of Obama's small business priorities: key endorsement from Andy Stern and his Service Employees International Union... |
??? That ain't related to small biz; unions would crucify them within a year. (Sorry, MM, I know it was just included in the full quote.)
Obama asked small biz owners:
Quote:
Originally Posted by Milkman “how can the next President better help small business and entrepreneurs thrive?” Basic answers: fix our taxes, fix healthcare, build incubators, and get out of our way.
Obama seems to have listened to some of that...he wants to eliminate capital-gains tax on small business investment and spend $250 million a year on business incubators in disadvantaged communities... |
Since when do small biz generate capital gains? Who invests in many small businesses to get them started? Um, angel investors (ie, multi-millions), private equity groups (multi-millionaire funding groups), subordinated debt lenders, etc, all of whom then get their loans back and reap capital gains from the build up in equity when the co becomes successful. So these richies get the cap gains tax benefit, not the little company. Even if Mabel uses her own funds to start her shop, where are the cap gains coming from? She makes a profit or loss. So, no tax on her profits? She'd get a cap gain if she sold out and got more than she invested.
Biz incubators in
disadvantaged communities? 555555555555 Who's gonna (I'm gonna use that Michelle Obama word) schlep this PC rhetoric? Ya, let's put some cash in the hands of the drug dealers in the projects so they can buy more bling. I want to see the results after one year; there will be hype over the handful of success stories (ex-crackhead Mabel opened a drycleaners, homeless Frank opened a barbershop). The Obama crew is unlikely to list the 10,000 other incubators that ran out of oxygen as soon as the funds were handed over.
Obama has charisma, offers hope and a dream. Let's see the goods.