Help For Small Businesses

        Monday, President Obama signed into law a small business bill that will create about 12 billion dollars in tax breaks for small businesses.  The measure also creates a 30 billion dollar loan fund.  The President says these new incentives will help small businesses right away.  But critics charge that the measure would eventually become a burden, because later, Democrats would allow a hike of the top income tax rate that many small businesses pay.  What do you think?  Will the new law help the economy by getting money into the hands of business owners?  Or will it result in tax increases for small businesses, as some fear?

Comments

[kyle]

Let's ask a few question to ourselves. Have we ever seen the government tax anyone and not spend it then be looking for more? If these guys running the show now,who think you can spend you way out of debt get more of everyones money do you really think it will go to pay down the debt? If you say yes to any of the above you are an idiot. The only business Obama is interested in helping is unions. You cannot fund all his free programs without taxing everyone. I still laugh everytime I hear the lie. Obama has cut 90% of the peoples taxes. Most of the people he is talking about dont pay any taxes anyway. He wants to redistribute wealth. I'm still looking for my tax cut. Mine has gone up.Let me add that I am way under 250,000 dollars a year.

[Brian]

Didnt the government try this already. How many hundreds of billions was given away to business in the last stimulus package? No improvement was seen. Just give us our money back!

[POd taxpayer]

This Government is a JOKE , the same Cronies that created it are trying to cause a new disaster ---- LEAVE BUSINESS ALONE ! TAX the LAWYERS - and The Bloviated Politicians

[Da Gardner]

This will be the first time I disagree with the great Mr. Obama. But I think they are going about this the wrong way. They should let small businesses hire illegal immigrants, they work really cheap, this way the SB could lower there prices to us and we would be able to spend more which would increase revenue all they way around. Plus it would get them damn illegals off the welfare and food stamps, which might mean I would see an increase in my government check.

[Honest and hard working]

Some businesses might misuse this privelige. The company that hired me over the summer looked at my resume, with a Bacelor's Degree and saw I had been out of work for a couple of months. They kept me on long enough to have me fill out and sign a HIRE Act of 2010 Form , then they stopped giving me as many hours as before signing the ACT. After signing they only gave me 6 hours. What is going to be done to make sure that the workers that were hired under the HIRE Act, be able to keep there jobs. The businesses hire if they want to hire,if your quailified or not.

[Mike]

I've owned a small business for 15 years and one thing I've learned from this administration is not to trust anything they've told us. I'm holding onto my money as best I can because I have no idea what's going to happen next month or next year. That means that I won't be hiring regardless of what the Obozo administration says. When I hire somebody, I feel an obligation to provide a living wage and to keep them on the payroll as long as they're pulling their weight. With this current administration, I have no idea what's coming next so I may not be able to keep my obligation to them. My response is to avoid hiring in the first place. So...the new law will not help my small business and I won't relax until the current administration is only a distant bad memory.

[Chelle]

Dean Baker of the Center for Economic and Policy Research, estimates that the tax hit would not be too high for most small businesses. For one, the marginal tax increase impacts earnings, not revenue. A business would need to be clearing more than $250,000 a year after salaries and other costs in order to see a tax hit. And then, it would likely be small. “For the $250,000 to $500,000 a year bracket,” Baker notes, “the estimated tax hit is $700. That isn’t enough to hire anyone.”

Other groups have also estimated that the impact would not be great. Citizens for Tax Justice, for instance, examined (PDF) “data on individuals who get more than half of their income from a business that they actively operate.” Only five percent would lose any portion of earnings — many of whom would be partners in law firms, hedge fund managers and accountants.

You people kill me. You are going to not hire, just to make a point against the Obama administration. Good looking out for your fellow Americans who WANT to work and take care of their obligations and families.

[Swamp Charly]

Leave small(and big business) alone !
This Administration is all about votes and how best to buy'em !!

[Mom]

chelle --

You are missing the point! The current administration has shown nothing but contempt for small business owners and tax paying citizens!

They have time and again lied to the American public. Since, none of us know what will happen next we have chosen to sit on our HARD EARNED money until there is some stability in our government and our economy.

[Darrell]

The Federal Government has never done anything to help Small Businesses except tax them to death and use them to get elected! No matter what they pass it's always a joke in actually helping a true small business that needs it..

As a small business owner (Retro-Sports) the best thing the government can do is eliminate taxes such as property/inventory tax for small business and quit giving large corporations tax credits that eventually shift jobs overseas to avoid paying certain taxes and employees..

I encourage everyone out there to support your truly local small business instead of the Wal-Mart's of the world if you want to see your area prosper!

www.RETRO-SPORTS.com

[Mary]

Obama and the Dems came up with the idea then it has got to be either a scam, a lie, or another way to screw the taxpayer.

[HA HA]

Darrell,
I really respect the idea of the local small business, and i love what they represent. I like the small sports store, I like the local crawfish farmer, the local shrimper, etc., etc.

The only problem is how to support them at a time when money is tight and there is 6 mouths to feed in the family. Buy from the local shrimper for 5 bucks a pound or shop walmart for a buck 50 a pound. How about buying a t shirt for 30 bucks or going to walmart and buying a 6 pack of tees for 2 bucks?

OH yeah, I almost forgot the topic....Hussein Bamy sucks.

[Etaoin Shrdlu]

If cutting taxes on small businesses helps them to grow, why'd the idiots raise the taxes that high in the first place?

Idiots!