westvirginia Posted February 3, 2010 Share Posted February 3, 2010 Right. The proposal deals with the sale of the entire business, not the taxation of income earned by business operations. This is basically intended to fuel start ups. OK, I think we're making different points then. I was saying that the new provision wouldn't do much for job creation because it doesn't cut taxes for the people who would be creating most of those jobs. Quote Link to comment Share on other sites More sharing options...
yo mama Posted February 3, 2010 Share Posted February 3, 2010 OK, I think we're making different points then. I was saying that the new provision wouldn't do much for job creation because it doesn't cut taxes for the people who would be creating most of those jobs. I disagree. If entrepreneurs have extra motivation to create start ups (with an eye towards selling them in 5+ years) those start ups will employ people, which would create jobs. But you are 100% correct that the incentive would not be coming from reduced taxation on operating income. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted February 3, 2010 Share Posted February 3, 2010 I tend to agree with her for once. Who's going to take the risk in the current business environment unless they really NEED to hire someone in which case they are going to do so regardless of a tax credit. This is wasted money as far as I'm concerned. I partially agree, though I would point out that for companies that are hiring low-wage workers, the tax credit could be just enough to make the employee sustainable. Quote Link to comment Share on other sites More sharing options...
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