Paul, I appreciate the dissertation.
How do you feel about the President's weekly address today that oulined new help for small businesses?
Help is on the way for America's small businesses, President Obama told listeners this morning in his weekly address, in the form of "more access to credit, more incentives to hire, and more opportunities to grow and sell products all over the world." In a set of remarks sure to warm the heart of Main Street businesses anywhere, the President held up the entrepreneurial American spirit as the soul of the nation; more specifically, he discussed his specific proposals for encouraging small business growth in the current challenging economic climate:
$30 billion will move from TARP funds targeting Wall Street to a Small Business Lending Fund for community banks;
Fee waivers, increased guarantees and expanded SBA-backed loans for small business;
Tax credits for new job creation and wage raises;
Identify innovative businesses and offer targeted financing;
Help small businesses with refinancing of mortgages.
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I have a small business in its 21st year; a tax credit of new job creation is USELESS. I'd hire some one if business picked up and revenue increased enough to justify it...not because I'd save $5,000...one of the dumbest ideas I've heard yet.
I have a credit line that gets used for tax management...I don't want to borrow for fear the economy gets worse and I can't repay so I manage my business based on revenue and balance my budget...something the Gov't should try for themselves. Making funds available thru the SBA will have some postive effect.
"Identify innovative businesses...what more redistribution of wealth...why can't all be treated equally?