I really don't believe the average voter has access to capital to buy a business

[bigtree]

As I understand the state of our economy, most Americans have shot through most of their savings and most of whatever equity they've had has evaporated as home prices have plummeted. Most Americans are just trying to hold on to what they have in the face of rising unemployment, rising energy costs, rising interest rates, and falling wages and benefits.

Those are the economic conditions which are keeping working 'Joes' from amassing the savings and equity they need to advance out of the 'middle-class.' Those are the economic conditions that Obama/Biden have addressed with concrete proposals, directed at the working-class that McCain/Palin's 'Joe Plumber' has finally admitted he's a part of.

Joe Plumber is correct to dream and work toward a more prosperous future. But, he's wrong to assume that the government's role in this economic slowdown is to elevate those who are well-off above those, like him, who are struggling just to gain a foothold where they are. Elevating those who are already well-off at the expense of over 90% of the rest of us is the essence of the McCain/Palin economic plan.

Joe Plumber would do very well under the Obama/Biden economic plan. As an assistant plumber, making less than $250k, he'd qualify for a tax CUT under the Obama/Biden proposal. Even making the $280k that he envisioned earning with his own company, Joe Plumber would only see a tax increase of less than $800.

Under McCain/Palin, Joe Plumber would find it as impossible to advance up the economic ladder and hold those gains as the rest of Americans have found it impossible to succeed under present and future Bush/McCain economics.

Under the Obama/Biden administration, Joe Plumber will not only find his economic footing, but he will see his fortune rise with the rest of the majority of us, as the tiny fraction of Americans who have benefited from the last eight years of top-down, trickle-down tax giveaways finally pitch in.

[Greyhound]

1. What Raygun/41/Clinton did to the SBA is just shameful.

Instead of a program to foster and promote the single largest sector of employment, it was turned into another corporate welfare program for huge, and hugely profitable, campaign donors.

[bigtree]

2. from what I see

. . . most Americans wouldn't qualify for even the most helpful policy the SBA could devise to encourage and facilitate business ownership. And, for those who already own one of these businesses, the miserable state of the economy for their customers is their most pernicious enemy.

[Greyhound]

6. It's that "qualification" tar-baby that is the problem.

More than simply a loan processor, the concept of the SBA was an agency that fostered the implementation of good ideas and provided support to maximize the odds of success. It would not only provide start-up capital, but follow through with assistance in operational and financial strategies, with the owner(s) only being required to reimburse the capital and hire Americans.

The two biggest hindrances to small businesses are lack of capital, and lack of operational knowledge. Just because you are the most awesome mechanic in the world, doesn't mean you know how to run a business, so the agency provides that which you lack.

Bottom-up economics. It is the only thing that has ever worked.

[pitohui]

3. obviously not and it goes further than that

even if for some reason you could borrow to start your own business, it would be foolish and beyond irresponsible if you had a family because it is almost impossible to get affordable health insurance now

the self insurance offered to the self employed is almost invariably a rip off that doesn't pay off major claims

[kestrel91316]

4. I don't know of anybody who would lend money for someone to BUY

a small business (unless you have the money to pay cash for it, then they are happy to lend to you, lol). Banks are sometimes willing to lend to you once you own one, but you have to have lots of actual assets (like home equity or a fat bank account) before they will do even that. Small business owners generally have to rely on credit cards for any financing needs. Bank deals are for the BIG guys.

When I bought my practice, the seller financed the deal.

[Bonhomme Richard]

5. I gambled all (80K) of my profit sharing plan on starting a business

in '2000...just before the dotcom bubble burst.....Lucky I got my money out even paying the penalty.
No one was there to lend me money unconditionally. The bank would have lent it if I put my house up for collateral. No way my wife would let me gamble that too.

[wryter2000]

7. And when did that become the American dream?

I have a "company" so I can report writing income. Other than that, I have no interest in owning a business.