Here's M. Cianfracca's three step plan to recovery:
- Commit to a zero interest rate policy for at least 2-3 years.
- Enact a 100% tax holiday on business income and capital gains. That’s not a deferral, it’s a full abatement.
- Commit credibly to eliminate new regulations on business.
I always tell people that if I was King, businesses would never pay taxes. Repeat after me: "businesses don't pay taxes, their customers do!"
And finally, much of the trepidation companies big and small are feeling about hiring is directly related to the fact that they have no idea what the new Obamacare plan will look like. How much will it cost your average small business? How much will taxes go up to pay for the plan? Is the health care insurance deductibility going away?
You can hardly blame business for being hesitant to hire in this uncertain environment.