Will Buffett’s rule to tax rich Americans hurt high-end housing?
[That] market is the most able to handle anything. Of course wealthy Americans should be taxed more. The idea that hedge fund operators, those who have grown the wealthiest, are only being taxed at a 15 percent capital gains rate is preposterous.
Any bright spots in today’s housing market?
Continuing foreclosures have grabbed headlines, but mortgage rates are just over 4 percent for a 30-year fixed rate mortgage, the lowest since the 1950s. Prices have also dropped by one third overall, since the bubble burst. Owning a home is cheaper than ever.
Is today’s economy hurting entrepreneurs?
Actually, job losses are pushing many people to start their own businesses because they can’t find jobs. Many entrepreneurs I meet are capable workers who have been downsized. To meet their bills, they began their own businesses.
Your advice for those struggling to get capital?
Now is the best time to start a business. The big guys are lying low, waiting the economy out. Your potential competitor is asleep at the wheel. Also, when times are tough, the whole universe is open to change and a new way of doing things.
How can government help small business owners?
Make it easier to get the money they always need to expand. It’s in the government’s interest to guarantee small business [loans]. Small business is most able to create new jobs, which adds tax payers.