The financial divide between the wealthy and the rest of the American people continues to get bigger and bigger. Jobs are scarce for well trained and skilled executives, engineers, technicians, and college graduates. Since the recession started in 2008, the number of households with over a million dollar net worth has increased over 25%.
Within the last 20 years many companies have moved their manufacturing offshore with a loss not just in factory jobs, but all the supporting functions from engineers, technicians, managers and other suppliers. Startups are the foundation for innovation, and a prosperous and thriving economy.
Small business startups create jobs for a wide variety of men and women, giving them the chance to create a better life for their families. A booming economy fueled by startups will create the tax revenues needed to help balance the budget and will provide a boost to the American economy.
The U.S. Government gives billions in tax credits to companies to provide incentives for pursuing businesses that are needed but that have a high risk factor, such as oil drilling. Small businesses are vital to the creation of jobs and econoic growth and are risky to start. Therefore, the Government should provide investors in startups a tax credit, because it is risky to invest in a new business.
Launch America is fighting for:
- Legislation for an 80% tax credit, taken over 5 years at 16% per year, for investors in startups to create a major pool of funding for the entrepreneurs of America.
- A Securities and Exchange Commission (SEC) exemption clearly written that allows Americans who choose to invest in startups, not just accredited investors, the right to do so under a set of clearly defined rules that would set the maximum investment, such as 10% of an households net worth in a startup business.
- Click Here to Read and Sign the tax credit Petition.