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Comment by ckinnan | Hacker News Reader

I want a bridge loan for my startup. Instead, I get to pay taxes to pay for this nonsense.

I am happy to report that one element of Obama's tax plan (http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINA...) is to "eliminate capital-gains taxes for entrepreneurs and investors in small business".

So if he's elected, and that's not what happens, will I be able to hold him accountable to this internet PDF?

How will eliminating capital gains taxes help me as a small business owner. Lower corporate income tax rates would be intuitive, but lower capital gains taxes is kind of a head-scratcher.

Should I invest in stocks via my business?

Were the company you founded to be bought out, it would be very helpful. Then again, at that point you would no longer be a small business owner. Bit of a paradox, that.

Wish I had responded sooner to continue the discussion...

If I sell, it would be capital gains taxes for an individual (me) who owns the business, not capital gains for the small business, so maybe I'm still misunderstanding what is intended.

No problem.

All gains for small businesses are capital gains. Treating capital gains (as opposed to wages) differently is a characteristic of personal income tax. So I think they were referring only to individual investment in small business.

The way the document is written is a little creaky, so it does seem to suggest what you thought it did, that there are "business capital gains" that businesses pay a special rate on.

If you sell.

Incorrect. You get to pay taxes for this someday. The bailouts are financed with debt, not cash.

I, for one, welcome our soverign wealth fund overlords.

More correct, your grandchildren will pay taxes for it someday. (Hey, we're being specific after all)

If AIG went down, do you in some way think you would find it easier to get a loan. On the contrary, I think it would be unlikely that anyone would be lending anyone anything.

I'd prefer to see the government take even half the amount of money and offer lots of smaller grants/loans to innovative entrepreneurs to launch our country into the next wave of growth. That's where the new jobs and economic growth will be. Give it to people creating value.

Do you have any idea how many such programs already exist? They all end up funding catfish farming research programs in Robert Byrd's territory. You seem a bit naive of the real function of cheap/free government money.

I have been building savings since I was 15. I have a fair amount of money in the bank for someone my age. I WANT it hard to get a loan. I want all these other people with no savings cut out of the market for housing, for business opportunities, for education. That would leave me first in line.

Propping up the credit market is, yet again, screwing savers like me in favor of the spendthrifts.

Sometimes, you have to resign to win. If you want to keep these people off of education, how can they improve their own situation? Does this benefit you?

btw: what's your age now?

You make it sound like that's a bad thing.

Lest we forget that easy credit and living above our means is what got us into this mess in the first place.

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