$30b. small buiness loan package passes

Discussion in 'Politics' started by saveliberty, Sep 16, 2010.

  1. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,004
    Thanks Received:
    6,109
    Trophy Points:
    1,830
    Ratings:
    +19,913
    WASHINGTON--Overcoming months of gridlock, the Senate approved a small business bill on Thursday that hands President Obama an election-year victory but shows just how difficult it has become for lawmakers to agree on the best way to help the sluggish economy and create jobs.

    The measure passed by a 61-38 vote, with just two Republicans crossing party lines to support the bill, which would create a $30 billion small business lending fund and provide $12 billion tax breaks to help companies invest and hire. The bill now heads to the House where it is expected to swiftly pass.

    Democrats estimate the legislation could create 500,000 jobs.

    Senate Approves Small Business Bill - chicagotribune.com

    $60,000 per job. Any guesses how much the jobs actually pay?

    By comparision:


    More than 100,000 Bangladeshis, half of them women, will benefit from a new $57.8 million fund that helps small businesses.

    The borrowers - whose businesses are crucial for the growth of the rural economy - are also expected to create some 200,000 jobs for extremely poor people.

    Read more: Loans For Small Business To Create 200,000 Jobs In Bangladesh | AHN

    Read more: Loans For Small Business To Create 200,000 Jobs In Bangladesh | AHN
     
  2. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    is this the one with the R&D tax exemptions?
     
  3. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,004
    Thanks Received:
    6,109
    Trophy Points:
    1,830
    Ratings:
    +19,913
    I believe that is the case Trajan. I think the figure is $12b.
     
  4. Soggy in NOLA
    Offline

    Soggy in NOLA Platinum Member

    Joined:
    Jul 31, 2009
    Messages:
    32,728
    Thanks Received:
    4,316
    Trophy Points:
    1,130
    Ratings:
    +11,450
    Prediction - 10 or so private sector jobs created... maybe. Bundles of cronies get rich.
     
  5. MarcATL
    Offline

    MarcATL Gold Member

    Joined:
    Aug 12, 2009
    Messages:
    15,350
    Thanks Received:
    2,358
    Trophy Points:
    245
    Ratings:
    +3,747
    Another one bites the dust.

    Go Obama!!!
     
  6. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,004
    Thanks Received:
    6,109
    Trophy Points:
    1,830
    Ratings:
    +19,913
    Uncertainty is the largest determinor in job creation at this point. Obama created the uncertainty.
     
  7. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,238
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,251
    No that is a seperate 200 Billion dollar plan.
    This 30 Billion is suppose to be in the form of Low interest Government loans. Which I guess at least is not spending as theoretically we will be paid back.

    I still think however it would be more efficient simply to tax the small businesses less than to give them loans. Simply promise you will not let their taxes go up when the Bush Tax cuts expire and you would do a lot to spur on investment and job Growth. IMO anyways.
     
    Last edited: Sep 16, 2010
  8. Rozman
    Offline

    Rozman Gold Member Supporting Member

    Joined:
    Sep 18, 2009
    Messages:
    16,575
    Thanks Received:
    3,060
    Trophy Points:
    290
    Location:
    Brooklyn,NY
    Ratings:
    +6,688
    Wow another Stimulus plan...What do we do when this money runs out?....Libs answer as is their answer for everything..SPEND MORE.
     
  9. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,004
    Thanks Received:
    6,109
    Trophy Points:
    1,830
    Ratings:
    +19,913
    How does that further the socialist agenda to control business? If you give them a loan, they have to comply with your rules and strings.
     
  10. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,212
    Thanks Received:
    14,906
    Trophy Points:
    2,210
    Ratings:
    +36,954
    Obama got a crystal meth spending jones
     

Share This Page