More on Obama’s Proposal To Eliminate Small Biz Cap Gains
Posted on: February 8, 2010 by Connie Loizos3 Comments »
Two weeks ago, President Obama told the nation that he was proposing a new small-business tax credit, “one that will go to over one million small businesses who hire new workers or raise wages.” While we’re at it, the president added, “let’s also eliminate all capital gains taxes on small business investment; and provide a tax incentive for all businesses, large and small, to invest in new plants and equipment.”
Many of our readers wondered what those words meant, exactly. So we looked for answers from Steven Franklin, head of the tax and venture capital and private equity funds practice at Gunderson Dettmer in Silicon Valley:
