Wednesday, October 21, 2009

The importance of small business in job growth

A great post about small business job creation over at the GOP Leader blog by Kevin Boland. Read it here, but first, here's a small part of the original post:

House Republicans recognize that the engine of job creation in America is small business, not government. That’s why two weeks ago, House Republicans sent President Obama and Speaker Pelosi a letter outlining six better solutions to create jobs:

  • Allow small businesses to take a tax deduction equal to 20 percent of their income.
  • Let small businesses join together to purchase health insurance for their workers the way large businesses and labor unions do.
  • Enact genuine legal reform and policies that incentivize wellness to reduce health care costs for small businesses.
  • Lower taxes for all taxpayers by reducing the current 15 percent rate to 10 percent and reducing the current 10 percent rate to 5 percent.
  • Expand health savings accounts (HSAs) to provide additional flexibility to small businesses in providing health care to their employees.
  • Increase the net operating loss carry back from 2 to 5 years to provide struggling employers with additional resources to keep their doors open.

Speaker Pelosi’s $1 trillion “stimulus” clearly isn’t working - and Democrats’ plans to tax entrepreneurs isn’t encouraging small businesses to create jobs. Government is by definition a bureaucratic and wasteful institution - it doesn’t possess the innovation and risk taking that exists in the private sector, which, when unleashed to its fullest potential, results in expanding businesses and new job creation.

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