Obama's pretensions of helping small business

Politico:

President Barack Obama is looking for some sector of the economy to lead the nation out of recession, and he's putting down a $730 million dollar bet Monday on small businesses.

Obama and Treasury Secretary Timothy Geithner will announce a plan Monday to make it easier for these entrepreneurs to tap into billions of dollars in federal lending aid to fight a credit crunch that has brought business borrowing to a standstill.

The plan includes $730 million from the economic stimulus bill to cut small-business lending fees. They'll also raise the government guarantee on some Small Business Administration loans to 90 percent, which they hope is enough to get reluctant banks back in the lending business.

"We know that small businesses are the engine of growth in the economy," said Christina Romer, chair of the White House Council of Economic Advisers. "We absolutely want to do things to help them."

The Obama administration says small businesses accounted for about 70 percent of new job growth over the past 10 years and could be the engine that pull the economy out of the recession.

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So why is he so hell bent on raising their taxes to higher than the Clinton levels? This looks like a typical Democrat scam. Raise the taxes through the roof then give back a pittance if you jump through their hoops. These guys would be better off keeping the Bush tax cuts. Obama is not only raising their income tax rate, he will also be raising the payroll tax they will be responsible for while he cuts their deductions for charitable giving and home mortgages. Piled on top of that will be higher energy cost because of the carbon phobe cap and tax plan that could raise their cost by 30 to 40 percent. Then there is rationed health care in the queue.

When you look at what this administration is spending they are devoting less than one percent to helping the sector that is providing 70 percent of the new jobs at a time when the economy is shedding them in droves.