Obama: "This is as American as Apple Pie"

[nmbluesky]

President Obama traveled to Edison, New Jersey today where he met with a group of small business owners at Tastee Sub Shop to discuss the economy and urge Congress to pass support for small businesses, the engines of private sector job growth. In his remarks following the meeting, the President spoke about the idea guiding the small business legislation that the Senate is expected to vote on this week.

The recession has meant that folks are spending less. It means that small businesses have had a tougher time getting credit and getting loans. And that’s why when I took office, we put in place an economic plan specifically to help small businesses. And we were guided by a simple idea: Government can’t guarantee success, but it can knock down barriers that keep entrepreneurs from opening or expanding.

he President explained how the small business legislation would help businesses grow and hire more workers:

If this bill becomes law, small businesses and start-ups will see the positive benefits right away. It eliminates capital gains taxes for key investments in small firms. It will increase the deductions that small businesses can take for new equipment and other expenses.
In closing, the President confronted the partisan political atmosphere in Washington, urging both Democrats and Republicans to come together behind the legislation for all of the small businesses in America.

Now, let me just make one last point. I know it’s no secret that we’ve confronted a lot of partisan politics over the past year and a half. We’ve seen a fair amount of obstruction that’s had more to do with gaining political advantage than helping the country. But surely, Democrats and Republicans ought to be able to agree on this bill. When I had a conversation with Mitch McConnell and John Boehner yesterday, I told them that the provisions of this bill are things that the Republican Party has said it’s supported for years: helping small businesses, cutting taxes, making credit available. This is as American as apple pie. Small businesses are the backbone of our economy. They are central to our identity as a nation. They are going to lead this recovery. The folks standing beside me are going to lead this recovery.




Full Obama's speech
http://www.whitehouse.gov/the-press-office/remarks-president-small-business-jobs-initiatives-0

[firedupdem]

1. K&R

[TBF]

2. "It eliminates capital gains taxes for key investments in small firms.

Do you have any more detail on this? In general this is a time when businesses should be paying their fair share, but are we talking about businesses under a certain size or something? Otherwise this sounds very positive.

[geek tragedy]

3. Capital gains on such investments would not be realized this year, or

in the next 2-3 years in all likelihood.

[OneTenthofOnePercent]

4. One problem... Apple Pie is not "American"

Apple tarts and pastries, although bitter, were not uncommon in 14th century europe.
The first apple pie recipe, as we know it today, appeared in a 16th Century Oxford Cookbook
A Proper newe Booke of Cokerye

[JVS]

5. More access to credit is no substitute for higher demand.

These businesses don't need loans, they need customers. And those customers need jobs.

[Nicholas D Wolfwood]

6. And in many cases, jobs are built by employers taking on loans so they can expand operations.

Hence the need for access to credit.

[lunatica]

7. Your employees are also customers

Customers who spend their money not only on your products or services, but who spend money on other businesses. Few things are as clear cut or as simple as they seem on the surface. A healthy economy is reliant on many factors working together.