Obama proposed his small business rescue plan. I think it's a good idea to focus on growing and save small businesses instead of buying bad mortgages. http://firstread.msnbc.msn.com/archive/2008/10/10/1528327.aspx ---------------------------------------------- Obama proposes help for businesses Posted: Friday, October 10, 2008 12:52 PM by Mark Murray From NBC/NJ's Athena Jones CHILLICOTHE, Ohio -- In a bid to show leadership on the economic front, Obama proposed government help for credit-strapped small businesses, through tax cuts and easier access to low-cost loans. His campaign said his proposal for a Small Business Rescue Plan was not a response to the stock market declines of the past few days, but instead a short-term proposal to help businesses that are having trouble getting loans stay afloat. Obama has tried to explain to people at his rallies the ripple effect the struggles of small businesses -- which employ half of the workers in the private sector -- could have on the rest of the economy. He tells crowds that businesses that can't make payroll or finance their inventories will be forced to lay off workers. "If we're going to rebuild this economy from the bottom up, then it has to start with our small businesses on Main Street. I see some of them right along here -- not just the big banks on Wall Street," he told the crowd of 5,000 here. In addition to eliminating capital gains taxes on investments in small businesses and start-ups, ideas that are already part of his stump speech, Obama proposed today using the Small Business Administration's (SBA) Disaster Loan Program to extend affordable, fixed-rate loans directly to small businesses, as it did after September 11th. His plan would expand SBA guarantees to encourage private lending to small firms by temporarily eliminating fees for borrowers and lenders and increasing the guarantee rate on private loans and he proposes extending through 2009 a temporary provision to increase tax benefits for small businesses that was included in February's economic stimulus bill. That provision is set to expire in December.
Step 1 ought to be don't tax the hell out of successful small businesses, which is a part of his take hike. This guy is so far in over his head it's not even funny... He's a total joke around business circles....
Here, here! Yes, do. Would get your mind off the election and your portfolio this weekend. Like the ones frequented by his supporter Warren Buffet?
Donald Trump supports McCain. Warren Buffet, world's richest and most successful businessman, supports Obama. Trump is a joke compared to Buffet.
