Another Misguided 'Stimulus' Plan

Discussion in 'Politics' started by carpro, Sep 26, 2010.

  1. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,941
    Likes Received:
    296
    http://apnews.myway.com/article/20100925/D9IEME2G0.html


    Small biz, banks may spurn Obama's $30B program

    Sep 24, 11:05 PM (ET)
    By PALLAVI GOGOI



    NEW YORK (AP) - President Barack Obama's $30 billion small community business lending program faces one big challenge: many of the community banks and businesses it's supposed to help don't want it.

    Snip

    Ninety-one percent of small business owners surveyed in August by the National Federation of Independent Business (NFIB) said all their credit needs were met. Only 4 percent cited a lack of financing as their top business problem. Plans for capital spending were at a 35-year low.
     
  2. Walguy

    Walguy
    Expand Collapse
    Member

    Joined:
    Feb 16, 2002
    Messages:
    525
    Likes Received:
    1
    Actually, the phrase 'misguided stimulus plan' is redundant.
     
  3. Don

    Don
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 7, 2000
    Messages:
    10,549
    Likes Received:
    212
    Interesting comment by a former Reagen economics advisor (somewhat paraphrased): "People don't work to pay taxes. Businesses don't stay in business to pay taxes. They all work for the amount after taxes, that they can spend on things they need/want. And they'll all move to where they have to pay less taxes, and gain more pocket money."
     
  4. Crabtownboy

    Crabtownboy
    Expand Collapse
    Well-Known Member

    Joined:
    Feb 12, 2008
    Messages:
    16,654
    Likes Received:
    158
    I heard a report on this on NPR. Many small business owners said what the need is more customers.
     
  5. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,941
    Likes Received:
    296

    And less government interference. But Obama is determined to raise the cost of doing business through a variety of taxes and mandates.
     
  6. Don

    Don
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 7, 2000
    Messages:
    10,549
    Likes Received:
    212
    Exactly. So where are the customers?
     
  7. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    In China and India.
     
  8. Don

    Don
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 7, 2000
    Messages:
    10,549
    Likes Received:
    212
    And how are small businesses supposed to reach those customers?
     
  9. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    As you all know the program is a scam. The money will end up in Swiss banks with the rest of the money.
     

Share This Page

Loading...