"White House launches new program for startup firms"

[Clio the Leo]

White House launches new program for startup firms
By JIM KUHNHENN
The Associated Press
Monday, January 31, 2011; 9:02 PM

WASHINGTON -- The Obama administration launched a consolidated effort to spur new start-up businesses Monday, part of the White House's campaign to emphasize job creation while downplaying new economic spending initiatives that could face congressional opposition.

The new thrust will be led by AOL co-founder Steve Case, giving President Barack Obama's emphasis on the economy a second prominent business face in two weeks. Last week, the president named General Electric chief executive Jeff Immelt as head of a presidential advisory council on competitiveness.

With unemployment stubbornly stuck above 9 percent, the White House has drafted a series of initiatives designed to put job creation efforts on display. Monday's announcement, labeled "Startup America" by the White House, focused on innovation and entrepreneurship and combined administration programs already underway with new ideas to leverage private-sector investment in start-up businesses.

"Entrepreneurs embody the promise of America: the belief that if you have a good idea and are willing to work hard and see it through, you can succeed in this country," Obama said in a statement. "And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs."

more....
http://www.washingtonpost.com/wp-dyn/content/article/2011/01/31/AR2011013104572.html

[babylonsister]

1. Rec'd. I for one love good news! nt

[Clio the Leo]

2. yeah, but the bad thing about good news...

.... is that it leaves folks w/nothing to complain about. ;)

[fasttense]

3. Oh come on, there's always something to complain about if you look hard enough.

Where's your good old American can-do spirit? You people are just too pessimistic. ;)

[Clio the Leo]

4. ha nt

[femrap]

5. OK....I'll bite.

Subtitle of this new program: Listen you dumb ass Americans....there are no damn jobs out there for you. If you want one, you're just going to have to create it yourself. And health insurance will cost you a fortune since I cut a deal w/ the Big Insure. There. Now go entrepreneur yourself a big fat job, OK? Too bad if you don't have any money and your home has been foreclosed upon. Put your f*cking little Thinking Caps on and give yourself a job!!!

How was that?

Since I've been unemployed since last year....I thought I might make Mean-Spirited Greeting Cards for those who want to send someone they hate a really nasty message.

What do you think?

[karynnj]

6. Kerry's statement on it

Some of the provisions are things the Democrats tried to pass last year - including some sponsored by Kerry

WASHINGTON, D.C. – Senator John Kerry (D-Mass.), former Chairman of the Small Business Committee, today applauded the launch of President Barack Obama’s “Startup America Partnership,” an initiative to spur high-tech job creation through innovative small businesses and start-up firms. The initiative is expected to be included in the President’s FY 2012 budget request.

One provision directs the Small Business Administration (SBA) to funnel $2 billion to start-ups and another would permanently eliminate capital gains taxes for small business stock – an idea originally authored by Senator Kerry as Chairman of the Small Business Committee.

“The global high-tech market is growing faster than ever before, and we need to meet this moment so America can create the jobs of the future here at home,” said Senator Kerry. “This proposal will empower the small businesses that can fuel our economic recovery and renew our economy for a new generation. Supporting our small businesses shouldn’t be a partisan issue –smart decisions like this will enable the United States to continue to lead the world in this young century.”

Kerry’s proposal to eliminate capital gains for small business stock won temporary victories after being included in the “Small Business Jobs Act” in September, 2010 as well as the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.” The President’s budget for fiscal year 2012 would make this provision permanent.

http://kerry.senate.gov/press/release/?id=7db50e0d-17fc-41df-b5b0-1b3bb62d4167

[robinlynne]

7. I dont understand this part: The White House announced that Obama's new budget this month will propo

The White House announced that Obama's new budget this month will propose permanent elimination of capital gains taxes on investments by small business. Congress passed a temporary version of that provision last year.

eliminate capital gains tax? That does not create jobs; it does the opposite. It leads people to invest more in the stock market instead of creating jobs.....