MLMs Breathe a Sigh of Relief as Obama Extends Payroll Tax Cuts for 2 More Months

FOR IMMEDIATE RELEASE
Scottsdale, Arizona, United States of America (Free-Press-Release.com) December 26, 2011 -- Friday, December 23rd.

President Obama seized the opportunity to conduct a political tirade on Capitol Hill today, in light of Congressional inability to come to a compromise on payroll tax extensions. A bill that had widespread, bi-partisan support, the extension of payroll tax cuts for small businesses (about 22 million self-employed Americans, including all active multi-level marketing members) will realize an additional $1,000.00 of savings for over 150 million citizens.

Entrepreneurs, who pay both the employer and employee side of the payroll tax, breathed a sign of relief today as Obama's intervention clearly spurred an otherwise incorrigible Republican House into action.

On Friday morning, Obama marched into Capitol Hill, with a randomly-selected bevy of self-employed business-owners opposed to the bill, whom his team identified over Twitter and contacted therein.

The ensuing speech was carried by every major news carrier and received millions of views in just a few hours over the internet. Many analysts were quoted as saying the general style of the speech was reminiscent of a pre-election Obama, due to the blunt rhetoric, criticism of the legislature, and overall eloquence.

Prior to the speech, the tax cuts seemed certain to be derailed, due to last-minute hold-outs by the Tea Party Republicans. Their hold-out seemed to be a play at extending social security tax cuts. Their demand was that a year-long bill be passed, extending social security tax cuts alongside the payroll tax cuts, in order to garner their vote.

President Obama's unusual stunt succeeded in shaming the hold-outs into immediate action. The bill, which was previously locked in a stalemate, was passed in a back-to-back voice vote i
n just under a minute; A Congressional record for the month of December.

This is seen as a major victory for Obama and the Democrats, as it is one of the cornerstones of the President's Jobs Initiative, laid out three years ago.

The bill was lauded by self-employment activists, such as Kristi Arslan, director of the National Center of Self Employment.

Although an important step, many representatives of MLMs believe the domestic business climate unfairly penalizes self-employed Americans who earn under $60K/year. The loss in personal finances, housing equity, and 401Ks as a result of the economic recession, has damaged the personal finances of many MLM members, thus constricting the flow of capital into their business. Credit markets remain frozen, limiting growth amongst many entrepreneurs

www.ThePrivateClientAccountant.com is in favor of expansion of state-based, self-employment initiatives. These initiatives are currently ran in only seven states and are designed to provide capital and training to potential entrepreneurs. Expanding these to the Federal level would help stimulate our most innovative class.

See the original speech by the President that passed the bill, and view post-bill analysis by Bloomberg News at

http://privateclientaccountant.com/2011/12/25/how-and-why-obama-won-a-major-mlm-tax-deduction-last-friday/

congress     democrats     mlm     Obama     politics     republicans     tax     taxes