Small Businesses Left Out Of Bailout

wsj.com:

WASHINGTON -- The White House's gamble to cut off aid to struggling lender CIT Group Inc. caps a string of decisions opening President Barack Obama to attacks that his administration hasn't done enough to help small businesses.

Read the whole story: wsj.com

Comments

[Overtone]

Small business can be greatly assisted by a Human Investment Tax Credit Program. It is designed to generate 3 to 6 million new jobs and encourage between 1 to 4 million men and women to become self-employed.

Curing unemployment without creating inflationary pressures is clearly feasible if we view the economy from new perspectives and adopt appropriate tools and policies. A few decades ago a program of employment tax credits was suggested in a pair of Reports prepared for the Economic Development Administration, a part of the Commerce Department.

A new analysis, that deserves discussion and debate by the House Ways and Means Committee, enlarges on but in no way contradicts the earlier studies.

The 1977 job tax credit program, which adopted very few of the recommended incentives, generated almost a million private-sector jobs; twenty percent of all new jobs created that year. It resulted in more jobs in less time than any prior legislation.

Both the full 2009 Report, and a shorter, 15 page version, containing the highlights, are available free at: www.aesopinstitute.org

[Harrier]

CIT

[mergina]

Small business, average Americans...OUT! With the Gazillions they gave away just what do we have to show for it?

[RJII]

there needed to be a second stimulus for small business, and a third directly to main street

[rbchilds]

No the stimulus needs to be directed at small businesses before they fail, unlike stimulating bankrupt large corporations.

[youtubeit]

as a final and total catastrophe of the currency system involved."

good articles: http://www.iamned.com

[youtubeit]

v

the DJIA should be at 5000 now considering how screwed up the economy is. ppl cant find jobs. hyperinflation. ppl have no money. a pointless war. record deficits. ppl cant afford gas & food. tough times for the American worker & middle class.

good articles>... http://www.iamned.com

[youtubeit]

the DJIA should be at 5000 now considering how screwed up the economy is. ppl cant find jobs. hyperinflation. ppl have no money. a pointless war. record deficits. ppl cant afford gas & food. tough times for the American worker & middle class.

good articles>... http://bit.ly/12NCJR

[Bumpkins]

For what ever reason President played like a team player with the financial institutions...they all sat down and verbally promised to cooperate together to get this economy going.....­.Promises, promises, credit was not loosened up for small business, and low interest loans forget it....same with the record foreclosures...will continue until every last dollar of our money is gone....more bucks in foreclosing then to re-do the mortgages...The problem....no cooperation by Congress or the financial institutio­ns........ a mess we have....cause it is business as usual

[yankees]

The biggest travesty in all these economic plans and programs by the Obama administration is forgetting the group that gives 70% of Americans jobs in this country. Obama is no different from the Republicans granting favors to the likes of GE, Goldman Sachs, Unions and the like.

[Bumpkins]

Remember the shouts by our politicians....we saved wall street,now lets save main street words does not pay the bills..what did Congress give us since Jan,

[themodernleader]

Eighty percent of the American people have been left out of economic development plans since the age of Reagan. Under Obama the same despicable financial enrichment policies are being expanded. The result is massive unemployment, manufacturing bankruptcy, foreign penetration and usurpation and the utter devastation of our economic and political institutions.
Our leaders pretend that all is well. They behave much like the corrupt, wealthy Senators of the latter years of the Roman Republic. We are going the same way as did they.

[Maschine]

As long as their paycheck keeps coming in and their benefits stay enshrined and with that a healthy pension, why, what makes you think they feel one bit of pain.

They aren't pretending, all is well for them , their families, their associates and colleagues.

[armadillious2002]

I voted for Obama and still support him - anyone would be better than the thugs we just got rid of. However small businesses have been left out. They needed investment credits to replace warn out equip. which in turn creates jobs nationwide and they needed incentives to retain workers. Yep they've been left out and the economy won't recover until their needs have been addressed.

[wrender]

"anyone would be better than the thugs we just got rid of. "

I have to disagree. Not when the replacement adheres to the same agenda with right-wing pundit support in the form of making it seem otherwise.

See how that works?

[wrender]

Anyone who thinks Obama really wants to do anything to help small business has been missing the big picture. Supporting small business is in direct conflict with global corporatism. You see, if small businesses were to thrive, we'd have a true free market economy. That means competition and innovation. The best would survive while the weak would fail. There would be new products and services in the 'green' industry, energy industry, transportation, etc, etc. But, we can't have that. We must be forced to utilize the products and services that only huge multi-national corporations can provide. That way there's virtually no competition, and we continue being misled into thinking our options are limited when, if fact, they are not.

Obama has already demonstrated to us who he serves. And it aint the little guy. Vote 3rd party in 2012.

[Social Construct]

Exactly. A good contemporary example would be the American auto industry; change and innovation were for the little guys. A bloated, smug mega-corporate mentality that has rippled waves of hardship throughout the main street economy. I second a third party solution.

[funkalicious]

Lending money to people who can't pay you back is stupid.

Doing so with the EXPECTATION that you can bleat to the government and get bailed out SHOULD BE A FELONY.

[research]

It IS Frauds, which carries prison time and Triple damages.

[Social Construct]

Where's Teddy Roosevelt when you need him? I would rather see control by a constitutional government than control by a plutocratic corporate elite. Fair, and regulated, commerce is vital to success of society as a whole, whereas, unregulated corporate dominance favors the few at the cost of many.

[Maschine]

I agree. Thats where this should have headed after the implosion of the fraud that was free markets.

[scoops2]

you do not have a clue as to what a free market is. We have had fascism in america, always. The fascists just change.

[hellboundtrain]

Do you think that any kind of fix will be in the wind when the CDO waves start to break?