I agree with the comment posted by Christopher Thaens. Most Americans get their insurance through their employer, and most employers are small businesses. So the effect of really helping out small business owners in a direct way will be felt throughout the nation. I already feel like I have the most affordable current option through Insurance. They helped me to tailor a plan that supports the use of pretax health savings accounts along with a cheaper, high deductible health plan. So I can retain my employees, who I still feel are my best assets. But to be certain, the drain on the bottom line limits the options we have for re-investment and growth. So maybe find a way to spend 1/5 the total we so nonchalantly hand out to wall street.
Alex P.
of NV
@
Nov 16, 2008 16:29:02 PM
Great piece
Excellent wrap-up. An Obama administration should also pressure the banks to use the loan guarantees and infusions of capital to encourage commercial credit for small business, since venture capital and angel investing is plummeting.
Robin Carey
of NJ
@
Nov 08, 2008 19:22:38 PM
@Mike of PA: To be honest, your comment smells vaguely like the McCain parrots that just kept yelling that more taxes is going to sink small business (despite the *actual* tax increase being marginal at best). Are you a small business owner? I suspect not. Being a business owner is already a hassle. I own a couple of true small businesses and everything I just read here would be a huge positive and nothing gives me hesitation over trying to grow and start new businesses. Aren't we all out there to create a decent income for ourselves?
Paul Reynolds
of SC
@
Nov 07, 2008 16:44:05 PM
Unions in small businesses?
Simply put, if such a crazy idea actually happens, this will be a net loser for those that work for small businesses and of course for the owners that struggled against great odds to create a successful business venture.
A small business owner (or those contemplating starting a small business) are out to create a decent income for themselves and their families. If it becomes too much hassle, and not enough reward for the great risk, I suspect many will just close up shop at the worst, make cutbacks, and scrap expansion plans. And this is good how?
I hope common sense prevails but so far the far left is gaining and we will all lose, it will just take a year or two for the reality to sink in. Deja Vu economics - 1930's, 1970's and now 2009!
Great article by the way.
Mike
Lafayette Hill, PA
Mike
of PA
@
Nov 06, 2008 16:01:17 PM
Obama is thinking right
Small business is the backbone of the country, and since we can't seem to get a national health care system in place, tax breaks and credits for small business makes a whole lot of sense. This will be a great incentive for more small businesses to provide this kind of benefit for their employees.
Christopher Thaens
Tampa Bay, Florida
Christopher Thaens
of FL
@
Nov 05, 2008 22:48:52 PM
Nice roundup, Matt. I marvel at the idea of Obama spending $210 billion on infrastructure and green collar jobs--where is all this money going to come from? Both elements are crucial to the economy, but from our current buried perspective, they almost look like pipe dreams. I'd be curious to know how past presidents have funded far-reaching projects in a climate of limited liquidity, or if this is even possible.
Thanks for the Intrade shout out yesterday. They were right, once again. If their weather prediction markets work out as accurately as their political ones, I'm going junky.
Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.
Alex P. of NV @ Nov 16, 2008 16:29:02 PM
Robin Carey of NJ @ Nov 08, 2008 19:22:38 PM
Paul Reynolds of SC @ Nov 07, 2008 16:44:05 PM
Mike of PA @ Nov 06, 2008 16:01:17 PM
Christopher Thaens of FL @ Nov 05, 2008 22:48:52 PM
Drea of CO @ Nov 05, 2008 13:55:26 PM
Back to blog