The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label EHow Money. Show all posts
Showing posts with label EHow Money. Show all posts

Saturday, July 14, 2012

GOP.... small business guardians? Au contraire!

Typical GOP Image...Non-diverse

On Friday 13, 2012, CNN published a short listing of  information about the small business experience  in the United States.  The list is a great information and archive piece.  We are going to extract a few items from the list for point of reference as we consider the common and tired GOP mantra of  'job creators'. 

By Amy Roberts, CNN Library
updated 1:42 PM EDT, Fri July 13, 2012

Only 45% of new businesses established in 2004 were still around in 2009.


Small Business 

Three small business tax cut bills were rejected by Congress this week

$7 million is the largest amount of annual receipts a business can have and still be "small"

$87 billion is the potential amount added to the GDP by small business

(CNN) -- Senate Republicans on Thursday blocked a Democrat-backed bill that would have extended tax cuts to small businesses.

Both sides indicated the vote was political one -- Democrats said Republicans blocked the bill to cost President Barack Obama political points. Republicans said that the legislation was a campaign stunt and wasn't enough to have any impact on jump-starting the economy.

CNN Report highlights

* 3 - Small business tax cut bills that were rejected in the U.S. Congress this week.
499 - Highest number of employees a business can have to be considered a "small business." 
* 5,749,797 - Firms in the U.S. with fewer than 500 employees, as of 2009.
* 56,281,503 - Employees of small firms with fewer than 500 workers, in 2009.
79 - Percent of American businesses that are non-employee businesses, with no employees other than the proprietor.
* 2.4 million - Businesses owned by veterans, making up 9% of all businesses, as of 2007.
* 20 - Percent of income eligible for tax deduction by small businesses under the Small Business Tax Cut Act, proposed by House Majority Leader Eric Cantor.
* $73 billion - Amount of the projected total increase in personal incomes if the Democrats' Small Business Jobs and Tax Relief Act had passed in the Senate.
* With the provisions of health care reform ...990,592 - Estimated number of jobs that would have been created.
* 10% - Tax credit on new payroll, a hiring incentive for business owners under the Senate Small Business Jobs and Tax Relief Act.
2 - Percent of Americans with incomes higher than $250,000 annually, those who would be affected by the expiration of the Bush-era tax cuts, according to President Obama.