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| Name: |
GoneFishin
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| Subject: |
A Good Move
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Date:
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10/24/2009 1:20:12 PM
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Obama promises help for small businesses
WASHINGTON, Oct. 24 (UPI) -- U.S. President Barack Obama said Saturday his administration will make it easier for small businesses to get credit they need to grow and create new jobs.
In his weekly radio and Internet address, Obama noted that he asked Congress this week to increase the maximum amount of some Small Business Administration loans to help small businesses, which he called vital to the nation's economic recovery.
"The goal here is to get credit where it's needed most -- to businesses that support families, sustain communities and create the jobs that power our economy," Obama said.
But, he said: "Too many small business owners are still struggling to get the credit they need…. These are the very taxpayers who stood by America's banks in a crisis, and now it's time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs."
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| Name: |
Lighthouse
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| Subject: |
A Good Move
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Date:
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10/24/2009 6:26:52 PM
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A good move considering the video two threads below. What is this country coming to. I am glad I am 66 and have no grandchildern, because we will be living in Heii shortly.
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| Name: |
MrHodja
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| Subject: |
A Good Move
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Date:
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10/24/2009 10:40:53 PM
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If Obama and the crooks in Congress had given small businesses tax breaks instead of the porkulus bill they wouldn't need more credit.
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| Name: |
MartiniMan
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| Subject: |
A Good Move
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Date:
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10/25/2009 10:27:47 AM
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I hope this helps small business but my fear is that they are going to use this cheaper debt from SBA to simply replace more expensive debt and won't create jobs. That is exactly what I would do because I am pessimistic about the future tax burden each employee is going to create for my business (especially for health care if the Baucus approach is passed). This is actually what happened with Bush's first stimulus package, people used it to reduce debt or saved it because they thought the country was going in the wrong direction. If you look at the polls sentiment about the direction of the country is even worse today than back then when unemployment was below 6%, the economy was still growing, etc.
The other point I would make is to remind you that government creates nothing. Every dollar it gives out in the form of loans is taken from our economy in the form of taxes (or worse yet, added to the $1.4 trillion debt, $2 of every $3 is wasted on bureaucracy and the remaining $1 is returned to the economy.
What has been proven over and over again permanent tax reduction will revitalize the economy, not more government spending. Keynesian was proven wrong in the 1930's, 1940, 1960s and 1970s. Unfortunately with our incredible deficit and federal spending going up almost exponentially combined with the statist beliefs of the administration and the leftist leadership in Congress there is almost no hope of that happening.
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| Name: |
water_watcher
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| Subject: |
That is not the problem
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Date:
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10/25/2009 4:44:27 PM
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Again Obama is out of touch and doing things that don't help. The problem is high taxes on small businesses. Obama says he is only raising taxes on people making over $250,000 ... but many Subchapter S corporations are individual small businesses. Their corporate income is passed through to be taxed as an individual rather than the double taxation of C - corporations.
Rarely does a S-corp pull all the cash out of the business to spend, they use it to grow the business further and create jobs.
But when Obamanation raises taxes on people making over $250,000 that taxes small businesses more, even though they really do not pull all the money out. So what happens, less money can be retained to grow the business and create jobs.
Lower taxes and stop penalizing small businesses that create jobs.
That will help small businesses.
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| Name: |
MAJ USA RET
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| Subject: |
Directly to the Economy
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Date:
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10/26/2009 11:45:01 AM
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A novel idea would be to give the stimulus money DIRECTLY to taxpayers. They would spend it, save it, or invest it. It would go DIRECTLY to the economy. AND, there would be no charge for government mismanagement.
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