President Obama seems to have realized that capital gains aren’t a chief concern of business owners and instead is now focusing on a $5000 per capita tax-credit to business that hire new employees.

WSJ: The details of the initiative, which Mr. Obama is expected to highlight when he visits Baltimore today, include a $5,000 tax credit for every net new employee in 2010. This credit would be retroactive to the beginning of the calendar year and could be received on a quarterly basis, if the business so chooses. In addition, employers would receive a tax credit to cover Social Security payroll taxes on wage increases.

As a small business owner that is in fact looking to hire someone in February, I can finally say that the President is proposing a policy that will

1. make me think twice about my plan to bring on a contract worker vs. hiring them full time; which is to say paying the self-employment taxes and
2. make me think twice about making it a full-time permanent position now versus a later date.

Tax cuts across the board would still be a better idea and the macro issues and effects related to this proposal have yet to be debated but I for one am pleased with the President’s initiative.*

*No, someone didn’t hack into my laptop to write something positive about Barack Obama.

This entry was posted by by Johnny Roosh on Monday, February 1st, 2010 at 6:00 am and is filed under President Obama, Socialism American Style. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.