Showing posts with label tax credits. Show all posts
Showing posts with label tax credits. Show all posts

Wednesday, September 18, 2019

720,000,000 million women off to the salt mines

With Trump, we know who's in charge. If Biden were elected, who knows. Did you hear that child care proposal to put 720,000,000 women to work? Yikes. And at a union event.

Let's ignore the number which was more than twice our population, and look at child care tax credits. Currently it's $2,000 and Trump is doubling that for next year. Also, do you really know women who aren't working because of the tax credit? Of course not. The unemployment rate is ridiculously low now, and any qualified parent can name his/her price (his comment was also sexist). There are thousands of doctors, lawyers, pharmacists, teachers and academics who think they are better qualified to raise their children to school age, and that marriage and home are too important to give up for a tax credit. Besides, they want to stay home and listen to the record player.

Thursday, April 15, 2010

How important are small businesses?

Today my husband attended an all day continuing education program to keep up his architectural license--got 4 credits and lunch. He saw a lot of guys he knew when he was a partner in a small firm (Feinknopf, Macioce, Schappa). They were all out of work. A "small business" is one with fewer than 500 employees. Architectural firms usually run about 15-20 if they are "big." The big firms are scrambling and eating up the smaller jobs they used to ignore just to keep their staff. Most small businesses are unincorporated, so business income is treated as personal income. This means Obama's plan to tax the high income earners (the top 1% pay 71% of the taxes) hit small businesses the hardest. So while 47% of Americans are paying nothing or getting big tax credits once a year on government payday, they are are helping to kill small businesses which are what usually lead the way out of recession.

How important are small businesses to the U.S. economy?

Small firms:
• Represent 99.7% of all employer firms.
• Employ just over half of all private sector employees.
• Pay 44% of total U.S. private payroll.
• Have generated 64% of net new jobs over the past 15 years.
• Create more than half of the nonfarm private gross domestic
product (GDP).
• Hire 40% of high tech workers (such as scientists, engineers, and computer programmers).
• Are 52% home-based and 2% franchises.
• Made up 97.3% of all identified exporters and produced 30.2% of the known export value in FY 2007.
• Produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large firm patents to be among the one percent most cited.

Source: U.S. Dept. of Commerce, Bureau of the Census and International Trade Admin.; Advocacy-funded research by Kathryn Kobe, 2007 (www.sba.gov/advo/research/rs299tot.pdf) and CHI Research, 2003 (www.sba.gov/advo/research/rs225tot.pdf); U.S. Dept. of Labor, Bureau of Labor Statistics.

Did you ever ask yourself in 2008 just what Obama wanted to transform this country into?