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Saturday, May 21, 2011 | 2:01 a.m.
As National Small Business Week ends, it is appropriate to remind Americans that the nation’s recovery from a battered economy will not be possible without strategies to help small businesses survive and expand. As domestic priorities go, none is more pressing than the need to create jobs, and small businesses have created 64 percent of the country’s new private-sector positions over the past 15 years.
It would be terrific if Wall Street lenders shed their stubborn ways by making it easier for Main Street entrepreneurs to borrow money to remain solvent, upgrade equipment and increase their workforces.
This failure to loosen credit remains a major roadblock to the nation’s economic recovery and a key reason why Nevada continues to struggle with double-digit unemployment.
But President Barack Obama and his administration have an aggressive agenda that demonstrates what government can do to promote a healthier environment for small businesses. The White House says that from February 2009 through last year, the Small Business Administration helped provide 564 loans in Nevada, supporting more than $280 million in lending.
A report issued Monday by the president’s National Economic Council highlighted the administration’s accomplishments in assisting small businesses, including expanded tax breaks, improved access to capital, increased U.S. exports, and greater federal contracting opportunities. As Obama aptly said: “To ensure the stability of our recovery, we must continue to provide new opportunities for small-business owners and the next generation of entrepreneurs, who will help us out-innovate our global competitors to win the future.”
Congress should do whatever possible to help achieve that goal. But obstructionist tactics by Republican Sen. Olympia Snowe of Maine have threatened to derail two federal programs designed to give small businesses the opportunity to participate in government research and technology initiatives. Both the Small Business Innovation Research and Small Business Technical Transfer programs, which are set to expire May 31 unless reauthorized, have served the nation well. Renewal of both programs cleared a Senate committee by a near unanimous vote, but a motion by Senate Majority Leader Harry Reid this month to end floor debate failed to get the necessary 60 votes after Snowe insisted on attaching an amendment that the Nevada Democrat said was not relevant to the proposed legislation.
The big losers are small businesses, because these programs have proved track records of success. As Reid said: “They have helped get great new ideas off the ground, everything from the electric toothbrush to satellite antennae that helped first responders in Haiti, to technologies that keep our food safe and our military’s tanks from overheating in the desert. There are success stories in every state and nearly every industry.”
The 150,000-member National Small Business Association, the nation’s oldest small-business advocacy group, said that although it supports Snowe’s effort to reduce small business regulations, she should withdraw her amendment. Association President Todd McCracken said the Small Business Innovation Research program is “too critical to small-business innovation for it to be the target of political gamesmanship.”
We could not have said it better.
What is strange about the puff piece is there is no justication made for the the Small Business Innovation Research and Technical Transfer programs.
If you want to write a 3000 word puff piece at least say something
Business, particularly big business does not create jobs,the middle class does. They spend their money, the wealthy send it to China and India.
Time to increase the minimum wage and grant medical benefits to all employees. We need to increase taxes on mines 5 fold.
(Some of the right wing stink tanks, and Koch Brothers funded groups pay people to read and comment on newspapers. e.g. Future)
Keep all this in mind when considering local government's efforts to close down Dotty's and its ilk.
"I heartily accept the motto, 'That government is best which governs least'; and I should like to see it acted up to more rapidly and systematically." -- Henry David Thoreau 1849 "On the Duty of Civil Disobedience"
In 2010, the gaming industry reported gross gaming revenue of 5.8 BILLION and paid 416 MILLION in taxes. In 2009, the mining industry reported gross revenue of 5.8 BILLION. Atfter taking deductions to gross revenue, some of which may not have been allowed by state law, the net profit was BILLION, and paid a state tax of 48.6 MILLION. During the Barrick Mining annual meeting, the Cortez Hills Mine in Northern Nevada was highlighted. In 2010, the mine produced 1.14 MILLION ounces (36 TONS) of gold at a cost of $312 per ounce. During the first quarter of 2011, the mine produced 366000 ounces (11 TONS) of gold at a cost of $220 per ounce. Assuming a price per ounce on the open market of $1420, that gold produced a PROFIT of over 436 MILLION DOLLARS. The report also highlighted the increase in return on investment of 12% in 2009 to a return of 19% in 2010. The company is planning additional exploration on 1000 mile square mile claim. Nevada is the SECOND largest producer of gold in the world. Of course mining is paying it's fair share.
Oh my gosh, who wrote this article? Did Harry Reid write this editorial? Who ever wrote this is wearing blinders and not seeing the entire picture. Next time he/she should take the time to investigate, perhaps it is the government and the comedy of errors by the democrats that are holding back the job creators. Here is some reading material to start with: "Seven months after legislation creating a $30 billion fund was enacted to encourage community banks to lend to small businesses, no money has gone out..." http://www.marketwatch.com/story/not-muc.... And how about the regulations that ObamaCare levies on the job creators and the millions of people getting wavers specifically because of the flawed law? Wake up, stop writing trash.
To KillerB and all those who think the government should get out of the way, that we don't need it - Would we even be living in Nevada if a Democratic government under Roosevelt hadn't had the foresight to build the Hoover Dam? Las Vegas and the surrounding area owes its very existence to big government and the taxes that made all this possible.