Barack Obama & Your Internet Business

This was a historical election in more ways than one. Other than the obvious, this was the first time that a candidate took advantage of less than conventional methods for reaching voters. Instead of focusing only on cold calling or media ads, Barack Obama harnessed the power of the web. In an unprecedented way, using tools such as Facebook, MySpace, YouTube, Twitter, and his own interactive website, Obama was able to solicit donations, reach a wide variety of American voters, get them to register, and eventually sway the vote in his favor. And now, as the date of his inauguration fast approaches, internet business owners may soon find themselves greatly affected by the new Obama economic plan.

So how exactly, will web-based businesses be affected? Well, there are two points of interest: (1) the plan to expand the broadband internet network and (2) tax relief for small businesses and start up companies.

Broadband Internet For All!

According BarackObama.com, Obama plans to ‘deploy Next-Generation Broadband‘:

Barack Obama and Joe Biden believe we can get broadband to every community in America through a combination of reform of the Universal Service Fund, better use of the nation’s wireless spectrum, promotion of next-generation facilities, technologies and applications, and new tax and loan incentives.

If Obama is successful in this initiative, and actually brings broadband internet to every community in America, it will truly open up the doors for internet business. First, it will encourage a greater and more widespread use of the internet, which means more potential customers. And second, it will likely cause the price of high-speed internet to fall.

Tax Relief for Small Businesses and Start Ups

Yes, Obama plans to help small business owners. But don’t get too excited! For web-based business owners, it is only likely that we will be able to take advantage of one benefit, the small tax credit. Obama’s economic plan provides a pittance of $500 to reduce the burdens of double taxation. The Barack Obama website states:

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.

So When Will This Plan Go Into Effect?

Obama has a very ambitious plan, most of which seems improbable in this tumultuous economic climate. And while he has expressed an interest in passing some pieces of the economic plan prior to his inauguration, it is likely that these two issues will take a back seat. Some other more pressing issues, for example, include the state of the economy and his controversial health plan initiative. So, it is not likely that we will see any major changes any time soon. And some cynics doubt that we’ll see them at all.