June 11, 2008

Helping Small Businesses – Improving the Economy

This week, John McCain Outlined His Agenda For Getting Our Economy Back On Track By Helping Small Businesses.  As president, his goal will be to get our economy running at full strength again.  This starts by supporting small businesses across America which account for about half of all jobs in the private sector.

• Small Businesses Can Make The Economy Run Again. Small businesses take the risks, often with little start-up money. They do most of the innovating and hiring in this country. For Americans of every background, small businesses are the path to success. 

• This Election Offers The Small Business Community A Distinct Choice. On tax policy, health-care reform, trade and spending, John McCain and Barack Obama offer very different choices to the American people with very different consequences for our workers and small business owners. In 2009, there will be change in Washington, but what kind of change?  Will it be the single largest tax increase since World War II as Barack Obama proposes, or will we keep taxes low for families and employers? 

A Vision For Promoting Small Business Growth To Create A Better Economy:

As President, John McCain Will Act Quickly And Decisively To Promote Growth And Opportunity.  He will keep the current low income and investment tax rates and pursue tax reform to support the wage-earners and job creators who make this economy run. To help American companies compete internationally and keep jobs in this country, John McCain will reduce the corporate tax rate from the world’s second highest to one on par with our trading partners.

• John McCain Will Act To Help Displaced Workers. John McCain is committed to expanding and improving federal aid to American workers in need.  We need to help millions who have lost a job that won't come back find a new one that won't go away.

John McCain Will Act To Reform The Tax Code. He has proposed permitting the first-year expensing of new equipment and technology. He will keep the low rate on capital gains, proposes doubling the child tax exemption and phasing out the Alternative Minimum Tax to save more than 25 million middle class families as much as $2,000 in a single year.  

• Small Businesses Have A Clear Choice Concerning The Estate Tax. Barack Obama proposes to increase the estate tax to a top rate of 55 percent. This tax is one of the most unfair taxes and John McCain will act to keep it low. After a lifetime building up a business and paying taxes, this asset should not be subjected to a confiscatory tax.

John McCain Will Make The Tax Code Simpler, Flatter And Fairer. As president, he will propose an alternative tax system. All who wish to file under the current system could still do so, but everyone else could choose a vastly less complicated system with two tax rates and a generous standard deduction.  Small businesses should not be subjected to thousands of pages of needless and often irrational rules and demands from the IRS. 

• Barack Obama's Economic Plan Will Further Burden Small Businesses. Currently, 21.6 million small business file under the individual income tax.  Barack Obama's plan to raise income tax rates on those making over $250,000 includes these businesses.  His proposed increases in dividend and capital gains taxes and eliminating the Social Security earnings cap will increase the tax on employers. Barack Obama proposes to eliminate the secret ballot for union votes and raise and index the minimum wage.

To Help Small Businesses And Employers Afford Health Care, John McCain Will Bring The Rising Cost of Care Under Control And Give People The Option Of Having Personal, Portable Insurance. John McCain's health care reform will help to make health insurance more affordable for every American.  His plan offers every individual and family a large tax credit to buy their health care, so their health insurance is theirs to keep even when they move or change jobs. John McCain's plan allows those who want to stick with employer provided health insurance to do so. 

This Week’s Note From Jo Ann:

These Talking Points illustrate why women small business owners should be supporting John McCain.  In 2006 there were 10.6 million privately-held women-owned businesses in the United States employing 19.1 million people and generating $2.46 trillion in sales.  Women- owned businesses are growing at almost triple the rate as other businesses.

Please help carry the message!

Click here for the complete archive of the Co-Chairman's Talking Points