Tuesday, September 14, 2010

So another $30 billion or so down the drain. ...but not just any drain!

Two questions:
1. Do you work for a small business?
2. How much longer do you expect to hold that job?
Or if there is more than one employee at your small business why don't you have a little contest to see who the first one that will not show up for work tomorrow.
Meanwhile, "Is there a small (or large for that matter) business out there that likes this so called, Small Business Bill?"  Back when the minimum wage bill was being discussed I explained (but no-one ever listens to me) that for every minimum wage increase a proportional amount of minorities would be laid off (and this goes back a long time...when the minimum wage was increased from thirty to thirty-five cents it wiped out an entire minority industry...the knitting industry in case you wondered).  I just happened to remember that fact (the minority lay offs) from a book written by Robert Ringer back in the 70's...and the fact remains today.
So, if the expense to the employer is covered by laying off some people (or in some, if not most cases, increasing the the price of goods sold) just think what this Small Business Bill will do to either the unemployment lines or the cost of living index. ~ Norman E. Hooben
The following from: Politics Alabama

Breaking: Senate Nixes 1099 Changes

Okay, let's take a look at what happened in the Senate today.

Remember the portion of ObamaCare that will force all businesses to file 1099 forms with the IRS for every entity they spend more than $600 with in a year? Think rent, electricity, office supplies, and possibly even sandwiches for the employees. Everything. This is a HUGE compliance problem, and will needlessly raise the cost of doing business.

Enter PresBo's newest attempt to get votes from a skeptical public, a "small business bill" that will "encourage" small business lending. Just what we need, actually, more debt. THAT oughta jump start the economy!

Anyway, the GOP offered an amendment to the bill to remove the 1099 requirements that ObamaCare inflicted on businesses. The Senate killed that amendment by a vote of 46-52... most of those Democrats REALLY like this job-killing measure.

Next up, the Democrats offered an amendment to limit the 1099 requirement to businesses with more than 25 workers and raised the $600 threshold to $5,000. That failed, as well, on a vote of 56-42. The Republicans killed that one, because the 1099 requirement is a bad idea for ALL businesses, not just for small ones.

Then the "small business bill" was voted on, and the Senate succeeded in voting to end debate on the bill. Two Republicans, Voinovich (R-OH) and LeMieux (R-FL ), voted with the Democrats to end debate on the bill.

So now it looks like the "small business bill" will pass... not that it will do much towards improving our economy. But then, the Democrats don't think their proposals have to actually WORK... just as long as the public sees them doing SOMETHING, and preferably the "right thing", then they should be okay.

So another $30 billion or so down the drain. The Democrats are proud that this bill won't raise the deficit... I think they're right, if what I've read about it is accurate. They claim it will increase lending in the economy... what it actually is, however, is a miniature TARP fund.

And TARP worked out SO well for us, don't you think?

1 comment:

Politics Alabama said...

Yes, but since those kinds of effects are very hard to see and take a little while to manifest, the Democrats don't see them. All they see is the "good" side of their efforts, and they fail to realize that the bad side outweighs the good.

Oh, and Republicans are certainly not immune to this form of myopia.