MenuMENU
SearchSEARCH

Small Business to Obama: Tax Cuts Won’t Work

September 8, 2010
2 min to read


The Obama administration has targeted small business with laser-like focus, pushing a $30 billion small-business lending fund in Congress and, later this week, rolling out a tax break allowing businesses to deduct 100 percent of qualified capital investments, reported The Wall Street Journal.


But the chief economist at the National Federation of Independent Businesses said today that small business doesn’t need more tax relief. Instead, he said, Washington should aim its firepower at consumers so they begin spending money and creating demand for the products and services small companies provide.


“If you give a small business guy $20,000 he’ll say, ‘I could buy a new delivery truck but I have nobody to deliver to,’” said William Dunkelberg, chief economist for NFIB.


Rather than aim more tax relief at business, Dunkelberg said Washington should extend the Bush-era tax cuts for everyone – including those making above $250,000.


“History shows that letting Washington have the money and spend it is very ineffective,” he said.


The administration’s latest idea, which would allow businesses to temporarily deduct 100 percent of “qualified” capital investments, can help “on the margin,” Dunkelberg said. With capital-spending by small business at a 35-year low, some firms will naturally take advantage of a temporary tax incentive to replace products. But Dunkelberg said he thinks most small businesses will hold on to their cash until more certain economic times


The best way to help, he said, is to “finally address the most important person in the economy – the consumer.”

Subscribe to Our Newsletter
No form configuration provided. Please set either Form ID or Form Script.

More Training

TrainingDecember 10, 2025

Accountable Is as Accountable Does

Auto dealerships work better when all staffers own their duties.

Read More →
TrainingNovember 26, 2025

The Power of Saying No

Agents should build this muscle to make themselves and their dealer clients strong.

Read More →
Trainingby Hannah MitchellNovember 6, 2025

Dealers Have Room to Run on Satisfaction

Survey finds it inched up this year, but consumers crave more communication

Read More →
Ad Loading...
F&Iby StaffOctober 15, 2025

The F&I Agent's Roadmap: Mastering the Cold In-Store Visit

Register for Allstate's FREE webinar on Oct. 21

Read More →
IndustrySeptember 18, 2025

Wish or Work To Success

Good, old-fashioned work ethic will get you where you want to go.

Read More →
TrainingSeptember 4, 2025

Elevated Concerns

Agents must have the ability to recognize and prepare to address high-risk compliance issues and offer solutions to dealer clients.

Read More →
Ad Loading...
F&IAugust 28, 2025

In F&I, Innovation Is Overrated

It’s what you do with your available tools that really matters.

Read More →
Product & Technologyby StaffMay 13, 2025

F&I Training Tool Updated

Reahard & Associates just released a new version of its recording and review service for F&I pros.

Read More →
TrainingMay 13, 2025

FUBAR and Risk Assessments

Three questions you can use to kick off your next (or first) risk assessment and avoid becoming a ‘FUBAR' dealership

Read More →
Ad Loading...
TrainingMay 12, 2025

Beyond Paperwork

The power of purpose-driven agency onboarding

Read More →