Of course, there were some ideas proposed during the 2008 campaign that would provide some help.
The Wall Street Journal on February 10 asks a very important question:
One question we wish someone had asked President Obama at last night's press conference is this: Why doesn't his economic stimulus bill include his own campaign proposal to eliminate the capital-gains tax for small businesses? The House bill omits it entirely, and the Senate version offers a rate reduction to 7% from the current 14%, but only on investments made in the next two years. That lower rate would apply to less than 2% of all capital gains…
We'd prefer an across-the-board capital gains cut rather than a targeted reduction. But the proposal would at least signal some Democratic interest in encouraging businesses to take risks again -- the only way the economy is going to recover. So what happened?
Good points and good questions.
Raymond J. Keating
Small Business & Entrepreneurship Council