What about all the rest?

Hell, I might as well save a buck and deal with the pro’s.

I do wish he would have used the $50/3 rule, spreading $50 over 3 businesses, rather than just spending at one. It would have said a little more about the “breadth” of small business, where this could be interpreted as a statement just about bookstores.

• A new small-business health care tax credit.
• A tax credit for hiring unemployed workers in 2010.
• Temporary extension of bonus depreciation tax incentives to support new investment.
• 75 percent exclusion of small-business capital gains, for stock acquired in 2009 and 2010.
• Temporary expansion of limits on small-business expensing.
• Five-year carryback of net operating losses, available through fall 2009.
• Reduction of the built-in gains holding period for small businesses to seven years, from 10, in 2009 and 2010.
• Temporary small-business estimated tax payment relief.

Tax provisions in the 2010 Small Business Jobs Act (both The Agenda and the I.R.S. have published summaries):
• 100 percent exclusion of small-business capital gains, for stock acquired in late 2010 and 2011.
• A further increase to the expensing limit to $500,000 for 2011 (in 2012, the limit falls to $139,000).
• A further extension of 50 percent bonus depreciation through 2010.
• A new deduction for health care expenses for the self-employed in 2010.
• Tax relief and simplification for cellphone deductions.
• An increase in the deduction for entrepreneurs’ start-up expenses in 2010.
• A five-year carry-back of general business credits in 2010.
• Lower penalties for failing to report listed (that is, abusive) tax shelters.

Since then, the president has added two more tax cuts to the list, according to a Small Business Administration spokeswoman, who supplied an update:

• Increasing bonus depreciation to 100 percent for 2011 (from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, the compromise law that keeps the Bush income tax cuts in place through this year; for 2012, bonus depreciation falls to 50 percent and then expires).
• Tax credits for hiring veterans, ranging from $2,400 to $9,600 (from the Veterans Opportunity to Work to Hire Heroes Act of 2011).

When the economy is in the tank, why would simply cutting tax rates be the answer? Do you think that these business men would just miraculously hire more and reinvest the extra cash? I am personally proud of this president’s record on taxes and small business.

The tax cuts for the rich have been in place for 10 years. Where are the jobs. oh check your facts. Republicans have blocked tax cuts for small bussiness’s throughout the last 4 years. And the definition of small bussiness as it stands includes multi millionnares like Trump, Romney and even Obama. These people earn millions of dollars every year. Let’s talk small family bussiness’s that earn btwn 250k and 750k. And this group of individuals would benefit from the blocked initiative’s, blocked by republicans. Your beef with the president is about something else. Skin Colo maybe?