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Tax cuts good, credit even better
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Step 1, now lets lend money
Tax cuts, especially for business, and even more-so for small businesses is a wonderful idea I give President-Elect Obama kudos for this, however, there is one major fundamental problem with this rationale.
For businesses, the tax cuts would include breaks for small employers and a “new jobs credit.”
If businesses, especially small and mid caps can not gain access to working capital and other financing, how can they possibly create new jobs, much less remain in business?
Most of the small business owners that I know are not seeking a "bailout", but access to credit at reasonable interest rates and fair terms of repayment.
Again, I credit Team Obama for this move, but for it to be worth more than good PR, it needs to be one step in the process.
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