What Will John McCain do for Small Businesses & Entrepreneurs as President?
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Last week I “crossed the line” and talked about politics for the first time on my blog. With great restraint I worked to give you an unbiased view of where Barack Obama stands on helping small businesses. Today with equally great restraint I’d like to share with you where John McCain stands on the exact same issues.
Both candidates have an existing track record and have made campaign pledges that will of course affect all aspects of our lives. But my focus in these articles is specifically on how the candidates’ pledges will affect micro-small businesses and entrepreneurs, with 3 or less employees. Remember that according to the Small Business Administration, their definition of a ’small business’ can be up to 1500 employees, depending on the industry.
McCain on Taxes Affecting Small Businesses
- Allow first year deduction of equipment and technology investment - currently this needs to be written off over the course of several years
- Reduce federal corporate rate from 35% to 25%
- Phase out the Alternative Minimum Tax (AMT)
- Permanent ban on internet taxes
- Make R&D tax credit permanent
McCain on Workplace Issues
- Create laws that offer workers the choice of comp-time off rather than paid overtime
- National Commission on Workplace Flexibility and Choice: Would review current labor laws and rules with potential changes to enable more workplace flexibility; work-at-home arrangements; health coverage and retirement plan portability; and more choice in job training assistance
McCain on Health Care
- No coverage mandates for Small Businesses
- Replace employer tax exclusion with $2,500 credit for individuals and $5,000 for couples/families
- Small business health care purchase pooling through associations (not sure if he means professional associations or new government associations, as this is already happening with professional associations)
McCain on Immigration
Nothing that will directly affect small businesses that I can discern
McCain on the Environment
- Cap-and-trade system to bring emission levels below 1990 levels by 2050 – small businesses exempt from participating in the system
McCain on Federal Spending
- Review all special spending programs to end subsidies to high-income corporations and individuals (no info on the benchmark where “high-income” starts - Obama’s benchmark stood at $250K a year)
McCain on Small Business Initiatives
- Renewed emphasis on innovation through Research and Development Agreements (public-private partnerships)
Learn More About John McCain
I have to say that for a republican, who are traditionally champions of small and large businesses, I wished I could find more information from Mccain for this article. But just like in my article on Obama, I do not claim to know all there is to know about our presidential candidates, or their campaign pledges.
You can find out more on the McCain-Palin website, join his social network at McCainSpace, or follow the campaign via video on YouTube.
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Sparkplugging Founder Wendy Piersall is dang passionate about helping people start & grow a business while maintaining life balance (somehow). 
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It is so easy to write up a list of things you want to change about the country.
Every election we see these promises and throught the 4 years each candidate serves you rarely see anything that they change.
It would be nice if a candidate did more than actually say what they are going to do.
Another thing is, it is hard to find good reliable sources of information on what our president is actually doing.
Most of the time it is some lame news flash on, “The president is playing golf here.” Or something like, “the president is going to visit this place and talk about this.”
Overall it is hard for me to trust our government and our leaders, simply because the media purposely keeps us dumbed down.
I am pretty sure Obama is NOT going to get elected and all I can do is hope that McCain will do great things for us.
I personally will not vote in this election and have yet to in my life. I am sure one day will come when I finalyl find someone worth voting for.
As a general rule, the president’s choices don’t affect us too much. Except when they do. From the war to taxes, stuff really does come down on us. We just don’t notice until we’re laid off or get a raise. Then it’s our boss doing whatever, rather than the guy who took/gave our boss an extra couple million.
Brent2s last blog post..Straight Wrestlers Go Gay Porn
Politics is an interesting past time especially with this being such a historic candidacy for both sides BUT
I’ll be glad when this is over and we can try to move on to some facsimile of normalcy.
reginas last blog post..Political Satire ~Or~ Racial Stereotyping ???
Great articles, Wendy!
The problem with the promises of both candidates is that all these initiatives and laws and changes and stuff take money.
With the collapse of WaMu yesterday and the swoop-n-save JP Morgan did with them in order to keep depositors safe and the pending/not-pending/oh-wait-pending bailout…
…what will the candidates have in terms of spendable money for *any* programs?
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The National Federation of Small Businesses has a good side-by-side comparison the candidates on the of the issues affecting businesses:
http://nfibelection2008.illumen.org/sidebyside.jsf
If you work for, or own a small business, John McCain is our last best hope, if Obama wins, hide the checkbook!
This is a reply to Carpet Guy’s comment.
Please explain how it is that McCain will help small business. Please also explain how it is that Obama will hurt small business.
It is just as written in the above post. If you think it is possible for Barack Obama to create all of these entitlement programs without raising EVERYBODY’S taxes then you do not remember Jimmy Carter, he said the same thing and look at what happened to us! Here is one example, Obama’s health care plan will force small businesses tolay off employess, McCain’s Health credit will help employees without hurting the company they work for.
CarpetGuys last blog post..Redistribute the Wealth: Barack Obama has another skeleton stick its head out of the closet!
Interesting point. The problem is that there are so many problems and there are so many opportunity costs out there that you have to look at the big picture.
It may be true that small businesses will be forced to lay off employees if Obama’s plan goes through but, won’t it be better for the millions of people who don’t have healthcare at all.
Most people vote for themselves and not for everyone. I think things would be much different if people voted based on what is best for everyone and not just themselves.
Ok,the millions of people are your concern, who do they work for? Odds are, it is a small business. If it is not a small business then it is a big one and they already have health care. Those that have jobs with no health care, will get a $5000 tax credit to pay for it with McCain, with Obama, you and I will have to pay for it. I don’t know where you live,but here in Texas you can get insurance for much less that $5000 for a family. Yeah, some folks might need to stop buying so much blingbling to pay for it, that is the problem now, they are not being responsible. It is simple Obama=Let big government take care of me McCain=Let me take care of myself, get government out of my pocket. We Americans are like spoiled kids, we need to get a grip and take care of ourselves.
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No, the real problem is, when you live in a society of trying to capitalize on other people’s misfortunes, taking care of yourself is what is the problem.
You don’t think a $5000 Dollar tax credit will also come out of our pocket? Why can’t the cost of universal health care come out of the tax dollars we already pay?
No one ever thinks about that huh? How much of our tax dollars are wasted on things we really don’t need. I was in the Navy and we spent rediculous amounts of money on painting a Navy ship over and over just to make it look good because we were pulling into port! Stuff like that.
Maybe we just need better money managment all around and more control of where our own money, that we work hard for goes?
Forget Obama and McCain.
For one, the taxes we already pay are spent, we have a ten trillion dollar deficit, Obama wants to add to this by sending 95% of everybody a thousand dollar check that the 5% not getting it would pay for. McCain’s $5000 deduction, is a deduction from YOUR money, the amount YOU would have to pay. There is a BIG difference. John McCain will also cut the government spending you mentioned. Our government is just too big, Ted Nugent calls it Fedzilla, you need to read his book, Ted, White, and Blue! Hey,helping those that need help is great, but not forever! For some it has been a way of life for generations. Everytime a bill gets passed, they add all kinds of crap to it at the end, as in, “I’ll vote for your bill, but you gotta get me some money”, these things that republicans have been wanting a line item veto for.
Hmmm. I think the American people have decided that John won’t be doing much for the economy.
That being said, Palin seems to be getting all the media attention. Guess people are interested in the potential VP that came out of nowhere. Maybe she’ll take over and give McCain’s plans a try.
In Alaska. Or something.