Monday, February 16, 2009

Survey: Many Small Business Owners Favor Tax Cuts Over Asset Plan

The Dallas News posted an article earlier today discussing a poll of small business owner’s opinions on tax cuts to stimulate the economy. Check out a portion of the study’s findings below, or check out the full text here.

Many small business owners disagree with the U.S. government’s allocation of funds from its Troubled Assets Relief Program (TARP) and think tax cuts are a better way to stimulate the stalled economy, according to a survey released on Monday by online payroll service SurePayroll.

“Small business owners are screaming for a different solution," Michael Alter, president of Glenview, Ill.-based SurePayroll, which conducted the survey this month. "They know firsthand the challenges their businesses are facing, and have seen no relief from Washington."

Nearly three-quarters of the survey respondents disapproved of TARP, which was set up last year to funnel $700 billion to financial institutions hurt in the subprime mortgage crisis. Survey respondents blamed Congress, U.S. Treasury Secretary Henry Paulson and lobbyists for the mishandling of TARP disbursements. Only 3 percent deemed TARP effective.

Nearly three out of four small business owners think the government should take a different approach to boost the economy, with about half saying the answer is to cut taxes. Other suggestions included:

• A massive stimulus program (11 percent).

• Easing the small business health care burden (10 percent).

• Forcing banks to lend money (9 percent).

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