Obama Supports Startups And Entrepreneurs
As most of you know, I am the co-founder of Woopra (iFusion Labs, LLC), a start-up that was developed in Lebanon and was released in the United States. iFusion Labs, LLC is now based in Dallas, TX.
I heard from so many people that Obama will affect businesses and investments by having them pay even more taxes! Now that he’s the next president of the United States, I decided to read Obama’s Blue Print Of Change because this is one of the factors that may affect my future.
Here’s what he said about startups and entrepreneurs:
Provide Tax Relief for Small Businesses and Start-Up Companies: Barack Obama and Joe Biden will eliminate all capital gains taxes on start-up and small businesses to encourage innovation and job creation. Obama and Biden will also support small business owners by providing a $500 “Making Work Pay” tax credit to almost every worker in America. Self-employed small business owners pay both the employee and the employer side of the payroll tax, and this measure will reduce the burdens of this double taxation.
Lower Health Care Costs with a New Small Business Health Tax Credit: Obama and Biden will create a new Small Business Health Tax Credit to help lower the costs for small businesses to offer health insurance to their employees. The Obama-Biden Small Business Health Tax Credit will provide a refundable credit of up to 50 percent on premiums paid by small businesses on behalf of their employees. To be eligible for the credit, small businesses will have to offer a quality health plan to all of their employees, and cover a meaningful share of the cost of employee health premiums. The credit would be fully available to small firms, and would be phased out for medium-sized firms. It would also be phased out for small firms with high-income employees.
Create a National Network of Public-Private Business Incubators: Barack Obama and Joe Biden will support entrepreneurship and spur job growth by creating a national network of public-private business incubators. Business incubators facilitate the critical work of entrepreneurs in creating start-up companies. Obama and Biden will invest $250 million per year to increase the number and size of incubators in disadvantaged communities throughout the country.
I was watching yesterday the elections in the US. I admired the final speeches and the democracy in this country. Having a Lebanese political background, I would say that I really envy the Americans for what they’ve got!
Obama reminds me of Dimyanos Kattar, a Lebanese wise man, who was a candidate for the Lebanese presidency. Will we ever make a similar change in Lebanon?
Yes we can!
I am Elie El Khoury, from Lebanon (Byblos), Woopra co-founder & CIO, Web & Software Developer, Designer, Guitarist, Mac user and the worst blogger on earth! 
November 6th, 2008 at 11:47 am
Good post there Elie, but I would like you to have a look at this.
An Obama presidency: Good, bad news for technology
http://news.cnet.com/8301-13578_3-10082672-38.html
Best Regards,
Wadih
November 6th, 2008 at 6:01 pm
@Wadih Ghsoubi:
Obama is clearly the right guy for the technology, not only he’s willing to invest more in technology but he’s very knowledgeable in the Software & Electronic fields. Unlike McCain, who said himself that he doesn’t even know how to use a cellphone or computer.
But, as you said, the copyright/patent issue is important! We need to wait to see his clear view about that.
November 12th, 2008 at 11:20 am
Well, although I usually go for republicans but since Bush came to the white house, everything changed. Maybe McCain is better than Hilary Clinton, but I am sure Obama is a looooot better than McCain especially the changes that he’ll do in economy, that sector that bush neglected during his presidency.
Maybe you might ask why am I concerned with US economy?
The answer is very simple. First, this will affect so many Lebanese living in the states. Second, the US economy will affect the economy worldwide whether we like it or not, and we’re seeing how markets in the middle east are affected. So I think he’s the right man in the right place. Us Lebanese always vote for people based on politics or religion, not based on his/her plan to do economic and social changes, as for the US, many republicans voted for Obama. What I hope is that Obama won’t turn us down and only time can tell.
As for Dimyanos Kattar, I see him as the Lebanese Obama, but unfortunately in order for him to be president, you should ban all political parties and get new civilized parties. It’s really disappointing for a man like him not to be president, especially when the Patriarch suggested his name as one of the candidates. I still think he has his chances especially that he’s still young.
December 8th, 2008 at 6:26 pm
“Will we ever make a similar change in Lebanon?”
“Yes we can!”
Of course we can, but we won’t