Eisboch wrote:
"Boater" wrote in message
...

Eisboch...it's not relief on capital gains, it's tax relief on the
investments made in small business. Maybe Obama didn't explain it properly
in the tv appearance you saw. He has explained it in detail several times.


You're right. I misunderstood it, as I am sure did many others because he
didn't explain it.

But here's the irony.

Financial investors in a small business are likely to be well off
individuals, venture capitalists or larger companies looking for investment
opportunities that also have significant tax advantages. Obama is
proposing just that, in apparent contradiction to his "tax the rich" and
"share the wealth" rhetoric.

It would be much, much better to minimize regular income taxes on business
if you want to stimulate the economy. Not all small businesses are
desirable investment candidates. Mine wasn't. No one could understand
what we built and when I tried to explain their eyes just glazed over.

Eisboch

Eisboch
Isn't that totally contrary to his




My guess is that Obama is targeting the existing or prospective
proprietors who want to invest in their own existing or prospective
businesses.

Here's a giggle for you. Way back when, when I worked for a financial PR
firm in Detroit, one of our clients was an incredibly hard working and
successful family who owned a multistate mortgage banking business and a
few commercial development companies. A large Michigan bank was on the
verge of default. The family made a deal with the FDIC to take the bank
over. This was all done over a weekend. The bank opened Monday under the
ownership of the investor family.

When I talked to the client about this a couple of weeks later, and
commented how it was terrific to have about $100 million in liquid
assets sitting around (that's what the buy in price was), he said, with
a smile..."it's just a small business investment."

A year later, they sold off the mortgage banking business to Citicorp.
Their shares were trading OTC at under $5 and they got $28 a share from
Citicorp.

Of course, this was in the day of honest, legitimate businessmen running
financial institutions...