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Subscribe to RSSA bill that creates a $30 billion fund for community banks to open up lending to small businesses passed the House today, 237-187 with nine not voting.
The bill was passed overwhelmingly by Democrats alone. Just one Republican voted for it (Rep. Walter Jones of North Carolina). Thirteen Democrats voted against: Berry, Boyd, Childers, DeFazio, Edwards (TX), Herseth Sandlin, Mitchell, Peterson, Polis, Shuler, Taylor, Titus, and Velazquez.
The Democratic no votes fall in two categories: (1) those in tough races or conservative-leaning districts: Berry, Boyd, Childers, Edwards (TX), Herseth Sandlin, Mitchell, Peterson, Shuler, and Titus; and (2) liberals in safe districts: DeFazio, Polis, and Velazquez.
Peterson (MN-7) represents a conservative-leaning district that voted for McCain (53%-45%) and Bush (57%-42%). He voted for the stimulus, cap-and-trade, but not health care; Shuler won his Western North Carolina seat in the Democratic wave year of 2006.
Politico's Rogers has more on the liberal "no" votes:
House Democrats representing black and Hispanic districts remain concerned that there aren’t more protections to insure that the money reaches smaller owners, and no less that Small Business Committee Chair Nydia Velazquez vote against the measure on final passage, “Unfortunately, the legislation we are considering today does not provide the protections we need to make sure that small businesses access affordable capital,” the New York Democrat told her colleagues in floor debate Thursday.
Those not voting: Blunt, Boren, Bright, Castor, Fallin, Hall, Kennedy, Meek, Young
An identical bill passed the Senate last week, 61-38, with just two Republicans voting for it (Voinovich, LeMieux).
President Obama is expected to sign it into law on Monday.
This bill aims to address the major economic problem of the lack of availability of credit and loans for small businesses.
AP:
"It's still very difficult out there to raise capital if you're a small or mid-sized bank," said Paul Merski, chief economist of the Independent Community Bankers of America, a trade group for smaller Main Street banks, tells AP. "If the economy continues growing again and you have thousands of banks around the country that cannot raise the additional capital to meet the small business lending growth, then we have a stalemate."
The loan fund is opposed, however, by most Republicans, who liken it to the 2008 bailout of the financial system. They warn it would encourage banks to make loans to borrowers who aren't good credit risks."
"What we have today before us is junior TARP," said Rep. Lincoln Diaz-Balart, R-Fla.
*** UPDATED 4:08, 4:30 PM, 4:40 ET *** Adds names of Republican House members, Democrats who crossed party lines and identifies those who did not vote.
Leave a Comment:
In light of the recent revelation that Small Businesses aren't exactly small,...this bill has lowered in importance for me. I'd much rather push forward on DADT. Just my opinion.
Clara,
My feelings exactly Clara...but do you know something?...I'm glad that it's been uncovered...BTW...Mark responded to our comment about Feisty and others being taken down...he is working to resolve that issue...
The rules to qualify for this program are not the same ones that were highlighted last night about the fake "small businesses".
Also, the house (which just passed this version) has already passed the defense auth bill that allows the military to end DADT.
The Repubs in the Senate opted not to even discuss a defense bill. I guess they are anti-military now. Will there be ads talking about how they don't support our troops?
Rich S-1900127,
I have contended all along that Democrats can win this November if they CHOOSE too. Republicans have given the "actual" video to win with...
It is totally up to them in my opinion and any of them whining about President Obama not campaigning for them...reminds me of sorry ass children that want their parents to do everything for them...
We've had some significant gains and the vast majority of Americans are standing with them...
They need to get away from faux polls...if they think that I'm lying...just ask Davis in my state...
They had BETTER fire us up and stick with what we've fought for...
That's the Democrats, always fighting. Lately among themselves.
As far as being fired up, just what should we Americans be fired up about? Unemployment at nearly 10% and underemployment at 20+% with no signs of either letting up anytime soon? World record deficit spending, and for what again? Using the federal court system AGAINST the states that want to control illegal immigration? A housing market still in free fall? Stimulus plan after stimulus plan that are epic only in their failure. Obama care that two-thirds of the country didn't want, and still don't want.
So just what are Americans supposed to be fired up about?
I am extremely happy that the Small Business bill passed today, again despite the GOP.
Just like everything else the GOP has piped in on is nothing more than fear mongering. They claim to be pro "small business". What we were able to find out last night, through Keith Olbermann, is that our definition of Small Business has a very different meaning than the GOP wind bags.
We need to keep up the fight. When ever the GOP thinks something is news worthy and sends the Tan Man to enlighten everyone, push right back with proof they do nothing but lie. We don't need that going to Washington and taking us over.
P.S. I loved the ass whooping he gave Ms. Cheney.
Well Clara, your Opinion is worth 5 Votes in either direction.
These new Toys provided for everyone to be a Supreme Court Justice, from the confines of thier Homes.
As we can see from the vote taken today, the GOP does'nt care about Small Business. How Ironic is it, that on the day in which we also got the G No P'rs 2010 version of thier "Contract On America", they claim to be for Small Business.
Everyones Laughing at this bunch, even the Reddest of the Reds, saying this Bunch of Misfits could'nt lead thier way out of A Wet PaperBag.
The Teabaggers are running over this GOP LeaderShip.
You Betcha!
joanna - Gee, lets see: ended combat mission in Iraq (ahead of schedule); implemented a plan with the slightest possibility of achieving the mission in Afghanistan (contrary to the Bush years, when we had Bin Laden and let him go!); repaired some of our fractured diplomatic relationships with countries all over the world; passed the most sweeping healthcare reform since Richard Nixon & Henry Kaiser screwed that whole system up; passed Women's Equal Pay for Equal Work legislation (they've been trying since the 1940's); we WILL eliminate the Bush tax cuts for millionaires and billionaires - one of the last remnants of our 40-year nightmare known as the "Trickle-Down economics" experiment; all in the 1st two years of Obama’s Presidency, while rescuing the world economy from plunging off a cliff and encouraging our kids to stay in school.
Here's one dem that's plenty fired up, (and there's gonna be plenty more by Nov. 2nd to send Boehner back to his mom crying: "Mommy, there's not gonna be a Speaker vote in the Republican caucus..."
Yes...unemployment is at 9% and you all did it didn't you? you're continuing to attempt to take food out of the mouths of families by filibustering bills and spinning lies (such as these) in attempts to derail President Obama's Presidency...
It isn't about concern for Americans...it's about lies and BS that you all have NO way of fixing...
If you all had an opportunity to take control...you would steal the Democrats agenda and gridlock Washington in order to cast President Obama as a failure...
Deficit spending was ALREADY done when we got into office...say Bush and the Republicans that were in control, President Obama has actually lowered the deficit since he's been in office...
The immigration issue is nothing more than leftovers that have been heated up by a Republican governor that looks like a damn mule in the face...that mule face woman only pushed the agenda of the Republicans because they were too chicken to do anything about what they allowed to get out of control...
Didn't BUSH open up the boarders...not to worry...President Obama will fix that too, because you people are too stupid to do it yourselves...
The housing market and deregulation was another cluster F--k from the last administration that President Obama finally got new laws passed to protect us...why that FREE credit that the Republicans tried to sell damn near TANKED the world...BTW...the housing market has finally bottomed out (as expected) and rebounds will happen...finally property values will return to realistic numbers...
The stimulus is working...just ask your politicians that are running on it...
Joanna...isn't it the Republicans that are eating themselves?...
By now there must be at least 100 ways in which Conservatives have demonstrated they aren't about anything but the people at the very top of the economic ladder. They've proven at least as many times that they don't care about the things they claim to care about.
Good for the Democrats to actually do something for the people Republicans claim to care about.
John,
Even if Republicans didn't have good intentions for the "real" small businesses many of them will finally get some assistance...it seems that President Obama will have to clean that S Corporation filing that larger Corporations have taken advantage of...
I smell an audit...don't you? we can really use that money from those tax cheats in our coffers....
Tax cheats like the ones that advise your messiah.......................Geithner, in case you're unfamiliar with his advisors. And he wasn't the only one close to your obama that is a tax cheat. The entire f---king group including obama are tearing the nation apart.
roc-527973,
Ho Ho! What a frigging rip! You have the audacity to accuse one group of being less than pristine when this entire nation was f---ed by the Republicans?...
From the White House to the damn out house...including child Pornographers and under cover self righteous homosexuals seeking sex in the toilet of men's rest rooms to propositioning congressional paiges...
To Cheney collecting Billions on contracts for a war that he aided and abetted in the manufacturing of...let's also remember to thrown in Torah Bora...Osama Bin Laden...
Hell...I'll bet that your self righteous ass cheats on your taxes...oops...yea...when no one knows...right?...
I don't know who you think that you're fooling because it isn't me...so spare me the feign indignation...bottom line...they were exposed and best we clean it up and move on to REALLY helping to get American straighten out...
Keith Olbermann did an excellent job highlighting the slicks, tricks and husslers using S Corporations filing tax returns as small businesses on last night.
The whistle was blown on the Republicans that are sooo concerned about "NOT" so "Small Businesses"...
The spin with the Republican Party politicians was HELP for small businesses...now imagine...a Republican being concerned about "mom and pop" businesses...
A JOKE! Those asses are ONLY concerned about the rich and if the poor happens to get a morsel of a crumb drops off the table then they've help them is what they'll sell...
Our country is REAL screwed up...
I only saw a recap of Olbermann's so called expose of small businesses. How ever I believe Olbermann is way off base. First, he does not know how these people paid their federal taxes unless he saw their tax returns. Second, he mentioned, according to one post, 8 or nine businesses. Government records indicate there are 24.7 million small businesses in the United States as of 2004. Also small businesses with fewer than 500 employees represent 99.9% of the 24.7 million. There were 17000 large businesses. There could be some loop holes in the tax laws, and if there are they should be closed. That said, remember the democrats have controlled congress since 2007 and therefore are in charge of changing tax laws. I believe your tax cheat, Charlie Rangle is in charge of the committee that writes the tax laws, so shouldn't Obermann be pounding on the democrats door to get this fixed? Also remember a lot of people take advantage of the tax loop holes so I would suggest that we not raise taxes until we revise the complete US Tax Code and start closing these loop holes. Also maybe the WH staff and the congressional staff could pay their back taxes which comes to about 1 billion dollars.
I know Anita didn't mean to, but her post seems to imply that only Republicans are S Corporations, only Republicans like money, only Republicans seek wealth and only Republicans take advantage of legal structures and tax law.
If that's what she meant to imply (and I know that she didn't) then Anita is wrong.
Richard,
Of course Anita didn't target Republicans Richard...what ever would make you think such a thing?...You of ALL people know that I don't cater to "wrong" doing by Democrats...when I have to spend my money and do it above board I expect everyone else to do like wise...
I do know the definition of a "Small" business and the number of employees that they should employ to be categorized as being a "Small" business verses larger Corporations and subsidiaries...
BTW...Republicans seem to have been the ones with the rallying cry for Small business Richard and Boehner did it so eloquently on "several occasions"...perhaps his was more personal that sincerity for those REAL" small businesses...just speaking fact...
Who is keith?
sfcret,
I see that you got it twisted...Geitner satisfied his debt and so did all others that owed taxes...let's start with Cheney and Haliburton...that would be worth about a billion...what you're harping on is old news that's been satisfied...Cheney's hasn't...BP....
What's truly sad is the fact that everything NOW becomes a crime to you baggies once Democrats are in office and especially when ANY one of them have "possible suspect" crumbs around ther feet...
Got problems with that memory of yours or what?...I can refresh it for ya...
Anita, I don't have it twisted but I think you do. Quit getting all of your information from MSNBC. According to the Washington Post 41 WH Staff member owed back taxes of more than $831 thousand at the end of 2009. Also there is approximately 1 billion owed by federal workers across the country. So maybe you should refresh your memory. BTW you never commented on the fact that the democratic controlled congress has done nothing to close the tax loop holes that these so called S-Corps are using to reduce their taxes. Everyone will use the tax code to save paying more in taxes, that is the fault of congress, and the democrats under Representative Charlie Rangel are responsible for tax laws.
sfcret,
Wasn't the bill just signed? Just like everything else that's come to the attention of the public "usually" follows with realignment...now don't tell me that this administration is soley responsible for what "BEEN" happening for years...
The "S" Corporation filings have been happening...granted...I'm not pleased with what Rangel has been doing any more than I am with Boehner, McConnell and the rest of the crooks...
How LONG has the S Corporation filing status been law?
As far as Federal Employees income tax debt...that too should be addressed and that has ALSO long since been an issue....that's right-- don't get it twisted...
Of course , the entire TARP fund had to be done because of most Americans are just a bunch of borrowers who are bad credit risks. No mention of AIG, Lehman Bros, Chase, BoA, Freddie and Fannie who seemed to be really bad credit risks.
Its all on us poor home homeowners who bought a 4-bedroom house when we shoulda known better than to go for anything more than a 3-2. The entire recession was 'our' fault for not being able to pay the mortgages.
Pablo-FL,
Aint it amazing at the concern that Republicans NOW have for our banking system...
Isn't it amazing how the politicians want to make the same mistakes over and over again?
Candice,
Yes...like Boehner and the "faux Contract with America"? Republicans are still trying to sell us that lie...same as they did before...just a different face...
Can't you just hear them saying... I have a lovely antique Bridge I'll sell you in New York...wanna take a look at it?...
The greatest book ever written - Les Miserables. The best musical ever. The best music ever. The best message ever. We must defeat the Republican Party this Fall. Together. Here's a little bit of inspiration. Tear jerking finale. John Boehner and Eric Cantor and Mitch McConnell - We get it.
http://www.youtube.com/watch?v=VCYr8TWAGn0
Do you hear the people sing
Lost in the valley of the night
It is the music of a people
Who are climbing to the light
For the wretched of the earth
There is a flame that never dies
Even the darkest night will end
And the sun will rise
They will live again in freedom
In the garden of the Lord
They will walk behind the ploughshare
They will put away their sword
The chain will be broken
And all men will have their reward
Will you join in our crusade
Who will be strong and stand with me
Somewhere beyond the barricade
Is there a world you long to see
Do you hear the people sing?
Say, do you hear the distant drums
It is the future that they bring
When tomorrow comes
Who will be strong and stand with me
Somewhere beyond the barricade
Is there a world you long to see
Do you hear the people sing?
Say, do you hear the distant drums
It is the future that they bring
When tomorrow comes
_______________
Thank you Mark and Domenico for all your efforts. I have terrible eyesight w/o my glasses so sometimes I miss something you may have written and end up cutting and pasting a blurb that you have already quoted. I apologize. The Fall campaign is officially upon us and you guys no doubt will be putting in long hours, trying to track everybody's campaign.
Best of luck to you. It's not the first time we have been down this road. But we all look forward to your insights throughout the campaign.
Wait- didn't the Republicans new 'Pledge' mention something about helping small businesses? I guess this means they only want to help small business when they're in charge. With Democrats in the majority, they'd rather just take their ball and go home.
Vote us in and we'll help small businesses! If you don't vote us in, we won't? Is it just me, or is that not the definition of childish, self serving behavior?
"Jeff.T
Wait- didn't the Republicans new 'Pledge' mention something about helping small businesses? I guess this means they only want to help small business when they're in charge. With Democrats in the majority, they'd rather just take their ball and go home."
Yep, as long as the Dems are in charge, the RTP (Republican Tea Party) will continue to just say NO to good ideas, suggested by Democrats. Of course the RTP has no suggestions beyond cutting taxes for the rich, privatizing Medicare and SS, and cutting all other spending that could help the poor and unemployed.
The Democrats good ideas will become good, only when the RTP is in power and suggests them.
Until then, the answer to every question is still NO.
Easiest excuse for the RTP to make? "It's not paid for", as if that ever made any difference, when they were in charge.
Thank God for the party of NO...if Obammy had his way you would be learning Cantonese right now so you could start your new job in China,,,
It's cool osamaobama, we realize that Conservatives have nothing without lies about the motives and beliefs of Liberals. Never mind the fact that we're Americans too, the important thing is that we be marginalized.
Osamaobama why? Why would you want a party of no please inform me what was wrong with this bill that the GOP had to say no.
how is the democrats helping small business
The bill is HR-4646 introduced by US Rep Peter deFazio
D-Oregon and US Senator Tom Harkin D-Iowa. It is now in
committee and will probably not be brought out until after
the Nov. elections.
One percent transaction tax is proposed
President Obama's finance team is recommending a transaction tax. His plan
is to sneak it in after the November election to keep it under the radar. This
is a 1% tax on all transactions at any financial institution i. e. Banks, Credit
Unions , etc.. Any deposit you make, or move around within your account, i. e.
transfer to, will have a 1% tax charged. If your pay check or your social
Security or whatever is direct deposit , 1% tax charged. If you hand carry a
check in to deposit, 1% tax charged, If you take cash in to deposit, 1% tax
charged. This is from the man who promised that if you make under $250,000
per year, you will not see one penny of new tax.
Some will say it's just 1%... but remember that once the tax is enacted
it can be raised at will.
Hasn't it become obvious nothing positive is suppose to happen before the next election???
Success would only help the party in power after all.
The party of "NO" has a plan that is sure and obvious....can you all see the plan??
I just looked up HR 4646 and it appears to me the idea is to eliminate the income tax for individuals and replace it with a transaction fee - I'd need to think about this before i decide up or down.... but Ellie you left out the elimination. please tell the whole truth when you try to spin us up for things like this.
thanks
You had better look again==if you are a DEMOCRAT you don't want to believe what you see but others will======== this is true and all of us will feel it's affect and rob us of our moneys.
ellie you left part out though and thats just wrong
Smitty,
Ya, you're correct she didn't post the whole thing. I too looked it up and I would say "No". For myself, I move money all the time between accounts. That's my money after I pay the man. If I want to move my money after I pay my taxes I should be able too without the Government taking my money. This HR gives the Government to track what's in your account without your permission. This is not a good thing this is borderline extortion.
I don't believe you ellie. If that is anything with substance, it would not be something a democratic politician would do.
It sounds EXACTLY like what a Democrat politician would do...however, it won't pass as every Republican and the very few Democrats with any sense of honor will vote against it...and in the process save President Odumbo from himself once again...
DOOGAL===better get ready for this will happen with all the DEMOCRATS in there OBAMA will threaten them with something and it will pass.
The President has been talking about making credit more available to small businesses for months. The banks are tight and I know business people who need some credit to float their payroll. As orders are still slow, customers are looking for longer terms -- 90 days vs 60 days -- and that's slowing the whole chain like a slow motion domino effect.
At the same time, businesses are still wary of the recovery and what the future will bring - especially with all the dog and pony stalling in both the House and Senate on tax and business legislation. While politicians are playing politics, businesses aren't taking risks. The last thing a business wants to do in a precarious economy is to take on more debt. The last thing a bank wants to do is lend to precarious businesses. The financial crisis wasn't all that long ago. The wounds are still healing.
So, is it really a great or sound idea to push a small business bill that encourages the behavior that got us in to trouble in the first place. Just once, can't we learn from mistakes? Especially recent ones? That the administration thinks that this bill will be a cure all for what ails business is an illustration of how out of touch they are from what's really going on. That the elections are impeding honest discussion and real solutions is just discouraging and more of the same.
Candice,
Far from the same...I'm not buying those ho-hum phrases when I know damn well that we are in much better shape than we were a year and eight months ago...
President Obama has work miracles compared to where we were and it's high time REALISTIC views are expressed as opposed to childish whining from people that allowed themselves to to rooked by the Republicans for eight years...
Americans are spoiled rotten and easily sold on BS when they think that they'll be privileged...with that way of thinking...destruction usually follows...
Isn't that what happened to our Real estate and banking system?...Many were lulled into thinking that they could have it all by pass what their parents did...cheap and without consequences...living a lifestyle manufactured by commercials on a tube...soccer moms...young couples that didn't know the meaning of "starter-home" (not a 300,000 dollar home) and affordable transportation...
That translated into two gas guzzlers in the drive way for young couples and gas went to over $5.00 dollars a gallon...but where are they now...their credit is ruin and they live at home with ones parents or in an apartment...sad...
Yes it's more of the same politicians in Washington in the Republican and Conservative Democrats that are working for special interest...but in November...many of them will be leaving Washington...it takes time to clean house...especially when the house if filthy...
Credit availability for small business? Passed by Congress? Are you telling me this bill wasn't blocked by the party of "NO"?
Banks seem receptive to change? WOW! What's going on here? Someone's kidding right?
The President got a small bill passed to help small business? Are you telling me the party of "NO" didn't fight tooth and nail?
The party of "NO" blocking judicial appointments? Nah!! Can't be...not he G. O. P.
Who's spreading these lies - FOXNEWS? - The party of "NO" wouldn't do that! They wouldn't hinder the American judicial system.
Bristol-Myers laying off over 600 people - Big corporations firing workers again....President Obama didn't fire them....Bristol-Myers did....
It was during the Bush era that the housing bubble burst resulting from greedy mortgage bankers and Wall Street instigators, agitators and perpetrators.
President Obama cannot hire us out of this economy. The President is attempting to get the economy back with the help of Congress.
Can't because of the party of "NO"
It took eight years of Bush to get into this quagmire we're in and President Obama can't fix it overnight.
The President can't fix it in two years. Congress could if the party of "NO" would let them!!
The Auto industry shot themselves in the foot by thinking they were invincible, bullet proof and couldn't lose. wrong!
It's the Congress who control the purse strings, not the president.
It's the Congress who make and pass the laws of the land, not the president.
President Obama didn't start these wars he inherited them.
He won the presidency telling US he would get us out as soon as he could.
Remember, President Obama didn't fire employees, the giant corporations did.
President Obama didn't off-shore the manufacturing jobs to China or Mexico. It was the manufacturing giants.
President Obama didn't lower the wages of employees and cut their medical benefits. It was the giant corporations.
President Obama didn't didn't bust the unions or kill job creating programs.
President Obama didn't rake in millions in compensation while the lower echelon employees were fired, terminated or laid off.
It was the giant corporations.
The CEOs of the 50 firms that laid off the most workers since the onset of the economic crisis took home 42 percent more pay in 2009 than their peers did—largely because cutting workers boosts short-term profits and appeals to Wall Street.
Don't get fooled America - Wake up and
Vote
Out
The
(E)Incumbent Party Of "NO"
Obama thinks all Americans are stupid...he's trying to take away hundreds of billions from small businesses by allowing the Bush tax cuts to expire, but he wants you to believe he is a friend of small business with this measley thirty billion dollar deal....Thanks Obammy...
Dems will be crushed on Nov 2....and if Obammy doesn't brush up on Capitalism 101 he will lose his job along with the rest of the Democrat congress in 2012...
what do you think the rich have done with the extra money they have received since the tax cuts took effect? Have you seen this new infusion of jobs? no you see rich corporations tucking that money away in the stock market to simply increase their own pockets. This whole argument you are making is complete smoke and mirrors and you are buying in on the lies put out by tea baggers and repugs. This is not a partisan opinion look at history? Since the tax cuts been put in place has the average worker increased their wages ....no its flat lined, Since the cuts have we seen unemployment go down....no we are at 9% (down from 10+% only after the stimulus was enacted)
Gee, Rudy. Bad day?
The President sets an agenda and vision for the country. A good President rallies Congress to pass legislation that is helpful to the country. A good President recognizes and accepts the problems he encounters and then works to find solutions.
Our President's agenda and vision is scaring half the country. His solutions are not helping, but hindering, business and investment. Our President is the most divisive in memory. The party of No is trying desperately to contain the damage the President is trying to cause. Our President appears to have taught you to blame and demonize those evil corporations -- even though it's those corporations that employ workers, invest and innovate.
You're right, though, to encourage people to vote. Vote them all out.
Candice,
I'm assuming that Bush was a GOOD President that met your standards-- chit...I'm still shaking from his Presidency....careful there....
Candice a good President fulfills his campaign promises regardless of obstacles placed before him ... Obama has done that. a good president "a good president recognizes and addresses promises...etc." What is your criteria for that since Obama came in office he has passed legislation that has been attempted for 100 years without any success.. He did it in 8 months. Your sick twist on reality is not converting any correct thinking bloggers
Beware on the DADT portion of that bill. There is also a provision in that bill called the dream act. Look it up, it is actually a nightmare scenario where the kids of illegals that are also illegal get citizenship if they go to college for 2 years or serve in the military for 2 years. Then they petition the INS for their parents, brothers, sisters, and grandparents to get citizenship too.
If that one gets through it will be dreamless for more Americans that will be out of work.
Jeremiah
I really see you picking fruit, busing tables, cleaning hotels rooms right. Oh their taking jobs away from hard working Americans ooooh. Really now, these are the jobs no one wants yet your complaining about. Corbert was right to mock those Repubs today in Congress
The Dems would be foolish to not try and pass the middle class tax cut before November. The repubs and the media are already making them look like spineless cowards, and the Dems are playing right into their hands. It is time for them to stand up and fight for the people. In war there are always casualties. STAND STRONG DEMOCRATS!! BACK UP THE AMERICAN PEOPLE AND OUR PRESIDENT!!
Those who voted YES to this POS bill will find out soon it was yet ANOTHER WASTE of time! If I had a small business, the LAST THING I would do is borrow money from a bank. How do they expect you to pay it back? At the highest interest rates ever!!
I would make sure I paid my bills off and made enough money to keep my doors open - and if the taxes are going to crush me, then it's worth letting go. With the uncertainty of what is to come next year, saving as much money as possible is probably a good thing. Obama will not stop until he bleeds every business and American taxpayer dry.
Next month another 1,000 of my co-workers will be lining up for unemployment. Reason why they were let go? Obama and his taxes! Nice job, Democrats!!
Small business and all business's for that fact, need to know what expenses are forecasted to be, before making any capital or employment expenditures. The unknown costs of the health care legislation, energy and potential cap and trade, will keep business's from making moves that could hurt or close their business. Obama and Congress can pass all of these unfunded (we're deeper in debt) bills that they want. They do not address the problems facing the economic situation of business's.
That's the Conservative narrative of the moment, perfectly delivered. As for me, I'm making my annual budget right now and no one has even discussed "uncertainty."
It's not a "Conservative narrative of the moment" John, it's the new norm. Hope you can budget better than our government.
I pray for the small business owners that they can weather the latest attack on their livelihood.
Would that be the new small business tax breaks that Democrats passed yesterday despite Republican attampts at obstruction?
Tell me again who has the real interests of the small business in mind? Sure doesn't look like the Conservatives. They're more into people with REAL money. http://www.newyorker.com/reporting/2010/08/30/100830fa_fact_mayer?currentPage=1
Sharon is a friend of ours and in the mortgage loan business.
When you read about the sales tax being imposed in 2013, you may want to pull your hair out.
Can you imagine paying the 3.8% tax plus up to 6% sales commission? It will eat into your nest egg pretty good.
BB
Yep—I have read this before!!!! We hear about one every day. Amazing at what our government has done for us
Fox news this morning has been releasing a report on results of how states have spent much of their stimulus funds as well. Totally disgraceful at the unbelievable waste. So many totally stupid things!!
Thanks,
Ellie
Its Faux News, can you expect anything but unbiased and straight new? LMAO
ellie, you might at least want to check www.snopes.com before you post a distortion of fact. http://www.snopes.com/politics/taxes/realestate.asp
This just continues a pattern for Conservatives to take a provision that only applies to a small fraction of taxpayers and pretend it'll hit everyone. Or then again maybe it's more accurate to say the Conservatives only care about those few people at the top end.
Good post and great link, look before complaining Ellie
If this BILL pertains ONLY TO START UP BUSINESSES WITH 500 EMPLOYEES OR LESS, ( NOT JOHN DEERE, XEROX, HOME DEPOT ect. ) and not FRIENDS OR FAMILY OF CONGRESS, then maybe "it could be a GOOD THING that would help create jobs and help our economy!
The loan fund is opposed, however, by most Republicans, who liken it to the 2008 bailout of the financial system. They warn it would encourage banks to make loans to borrowers who aren't good credit risks."
"What we have today before us is junior TARP," said Rep. Lincoln Diaz-Balart, R-Fl.
Why would small banks loan to business that didn't meet the qualifications? There are steps to qualify and if they don't meet those qualifications they don't get the loan. And more importantly, the loans we gave to the banks and auto industry, they are paying them back with INTEREST and almost have those loans paid. Are these Republican’ts for real?
Love the timing of this bill. Let's try to BUY some more votes. I have worked in several countries outside the US. Most notably, Mexico. I have heard from many fellow US citizens, read in many newspapers, and listened to newscasts that all decry the corruption in Mexico (as well as other countries). At least the 'political dealings' in these countries is open; in the US we use political 'donations', 'stimulus' packages, 'fund' raisers, etc. - all are 'silent kick-backs'; graft pure and simple. Yeah, the timing stinks just before the elections. I am certain that 'stimulus' money that has not been 'released' will show up in the states that need the 'correct' voting response. Time to get rid of ALL the bums who suck from the taxpayers' udder. If you believe that politicians deserve ALL the free benefits they receive; deserve to spend the 'political donations' as they see fit; can force a super-majority of US citizens to swallow whatever bildge they offer by way of bills, laws or incentives...YOU are a bigger cancer to the US than the politician.
Republican Plan WAR in Yeamen, Iran, Somalia it's all good for the economy. NOT
Lets see.... I am downsizing and streamlining to match sales and... the big Dem plan is for me to "borrow" more money from the same people that caused this mess?? What you are not happy until you repo everybody's house??
Welp... In my world this has a value of NOTHING!
Looks like another bank bailout to me!