@jferretti @SLUPSU ......
Ferretti was complaining about HUGE corporations, and @NittanyLion was telling us all that Obama never reduced taxes........
Back to Obama. All he had to do was lower the ax rate so small business would become more confident to invest, hire, increase wages..... But he didn't get it.......
American Business is Overwhelmingly Small Business
According to data from the Census Bureau’s Annual Survey of Entrepreneurs, there were 5.6 million employer firms in the United States in 2016.
● Firms with fewer than 500 workers accounted for 99.7 percent of those businesses.
● Firms with fewer than 100 workers accounted for 98.2 percent.
● Firms with fewer than 20 workers made up 89.0 percent.
Now that that's out of the way..............
https://www.thebalance.com/arra-details-3306299
7. Help Small Businesses
Small businesses drive 70 percent of all new jobs. ARRA allocated $54 billion to help small businesses with tax deductions, credits, and loan guarantees. These included:
Ferretti was complaining about HUGE corporations, and @NittanyLion was telling us all that Obama never reduced taxes........
Back to Obama. All he had to do was lower the ax rate so small business would become more confident to invest, hire, increase wages..... But he didn't get it.......
American Business is Overwhelmingly Small Business
According to data from the Census Bureau’s Annual Survey of Entrepreneurs, there were 5.6 million employer firms in the United States in 2016.
● Firms with fewer than 500 workers accounted for 99.7 percent of those businesses.
● Firms with fewer than 100 workers accounted for 98.2 percent.
● Firms with fewer than 20 workers made up 89.0 percent.
Now that that's out of the way..............
https://www.thebalance.com/arra-details-3306299
7. Help Small Businesses
Small businesses drive 70 percent of all new jobs. ARRA allocated $54 billion to help small businesses with tax deductions, credits, and loan guarantees. These included:
- Increasing the deduction for machinery and equipment deduction, including SUVs, to $240,000.
- Allowing a special depreciation deduction for 2008.
- Cutting capital gains taxes for small business investors who hold their stock for more than five years.
- Tax credits for small businesses that hire long-term unemployed veterans or students.
- Increasing the SBA loan guarantee to 90 percent in the 7(a) loan program.
- Eliminate fees on 504 economic development loans.
- In the Fiscal Year 2011 budget, an additional $64 billion in stimulus money was allocated to extend many of the ARRA programs. It added tax credits for any new hires, and increase the Small Business Administration loan limits from $3 million to $5 million. (Source: Recovery.gov, now defunct.)
