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From the Obama Campaign Organization:
To the Readers of Home Business Magazine:
“President Barack Obama understands that small and homebased businesses are the engines of job growth in the United States.According to the Small Business Administration, 99 percent of employers in the United States are small businesses, with over half of them home-based or run out of homeoffices. Small-Home businesses are responsible for two out of every three new jobs in the United
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| “President Barack Obama believes that the home-based business sector is a vibrant part of America’s economy, and he looks forward to pursuing more policies to make it easier to thrive as a home-based entrperneur.” |
States. As such, President Obama lowered the burdens on these business owners and has given them tools to innovate and create good jobs.
To make small businesses more competitive, President Obama passed tax cuts for small businesses 18 times and streamlined the patent process, providing a new fast track option to cut wait times by two-thirds and to help small business innovators move ideas from the lab to market. President Obama understands that skyrocketing healthcare costs and a lack of access to affordable healthcare are major impediments to starting small and home-based businesses. His signature Affordable Care Act is helping to now provide that access to healthcare while reducing overall costs. The Affordable Care Act also provides small business owners with better affordable health care options for employees, simpler administrative operating rules, and billions of dollars in tax relief.
President Obama believes that the home-based business sector is a vibrant part of America’s economy, and he looks forward to pursuing more policies to make it easier to thrive as a home-based entrepreneur.”
President Obama on Key Issues that Impact Home-Based Entrepreneurs, Small Business and the Economy.
When President Barack Obama took office, he noted that the economy was losing more than 700,000 jobs per month. He then passed the American Recovery and Reinvestment Act, which cut taxes for small businesses and 95% of working families. It also included funding to support about 300,000 educator jobs, 4,600+ law enforcement positions, and investments in the clean energy sector (supported 224,500 jobs). Obama’s campaign notes that the economy has added 4.4 million private sector jobs over 28 consecutive months of job growth.
President Obama believes that Americans know he still has more work to do. In a State of the Union address, the President laid out a blueprint for an economy that’s “built to last—an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.”
Tax Reform
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| “To make small businesses more competitive, President Barack Obama passed tax cuts for small businesses 18 times and streamlined the patent process, providing a new fast track option to cut wait times by two-thirds and to help small business innovators move ideas from the lab to market.” |
President Obama has cut taxes for middle-class families and small businesses. One of the first things he did in office was cut taxes for 95 percent of working families. In addition to 18 tax cuts for small businesses, he extended the payroll tax cut for all American workers and their families, putting an extra $1,000 in typical middle-class families’ pockets.
President Obama believes that the U.S. tax code has benefited the wealthy and well-connected at the expense of most Americans. He notes that a third of the 400 highest income taxpayers paid an average rate of 15 percent or less in 2008. To address this, President Obama proposed the Buffett Rule, asking millionaires and billionaires to “do their fair share.” The President has also asked Congress to take action to reform our tax code and close tax loopholes for millionaires and billionaires.
See the Obama for America 2012 website www.barackobama.com.
