Obama’s Blue Print Of Change Here’s what he said about startups and entrepreneurs:
Provide Tax Relief for Small Businesses and Start-Up Companies: Barack Obama and Joe Biden will eliminate all capital gains taxes on start-up and small businesses to encourage innovation and job creation. Obama and Biden will also support small business owners by providing a $500 “Making Work Pay” tax credit to almost every worker in America. Self-employed small business owners pay both the employee and the employer side of the payroll tax, and this measure will reduce the burdens of this double taxation.
Lower Health Care Costs with a New Small Business Health Tax Credit: Obama and Biden will create a new Small Business Health Tax Credit to help lower the costs for small businesses to offer health insurance to their employees. The Obama-Biden Small Business Health Tax Credit will provide a refundable credit of up to 50 percent on premiums paid by small businesses on behalf of their employees. To be eligible for the credit, small businesses will have to offer a quality health plan to all of their employees, and cover a meaningful share of the cost of employee health premiums. The credit would be fully available to small firms, and would be phased out for medium-sized firms. It would also be phased out for small firms with high-income employees.
Create a National Network of Public-Private Business Incubators: Barack Obama and Joe Biden will support entrepreneurship and spur job growth by creating a national network of public-private business incubators. Business incubators facilitate the critical work of entrepreneurs in creating start-up companies. Obama and Biden will invest $250 million per year to increase the number and size of incubators in disadvantaged communities throughout the country.