President Elect Obama's Tax Plan: Does it help or hurt?
Senator Barack Obama has done it. He has become the nation's first African American President Elect and soon to be President. But what will his economic plan mean for start-ups and small business owners throughout the country? His tax cuts for small businesses and start-ups will mean increased capital for investing in human resources and other goods. Hiring great employees allows companies to have greater exposure to their target market. Employees bring in increased revenue which means increased taxes going back to the local, state and federal governments.
While tax cuts for small businesses may not immediately turn the economy around, it is a plan that will get the country's economy back on the right track. In Northern California's Silicon Valley, for example, President Elect Obama's elimination of capital gains taxes for start-ups and small businesses will encourage entrepreneurs to start the next Google and Hewlett Packards of the world. After all is read and analyzed, the simple fact that there are plans in the works to help the economy back to its feet is news that we need.
