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Wednesday, March 09, 2005

Question:

Regarding the bankruptcy bill, everybody is talking about individuals with credit card debt. But won't it also affect small buisnesses? Like one-person operations. Recall Cheney's remark: "Four hundred thousand people make some money trading on eBay."

Bush talks a lot about small business (usually to disguise policies that help big business) and how much he cares about small business. The bankruptcy bill would appear to be at odds with Bush's stance.

posted by Quiddity at 3/09/2005 01:29:00 PM

3 comments

Yes. Yes, it will. When you start a small business, you have to personally guarantee any debt. So even if you set up an LLC or somesuch, it is individual debt.

By Anonymous, at 3/09/2005 3:13 PM

Bush's rhetorical stance is informed by cold, hard-bought experience:

When you get into financial trouble, Dad and his millionaire friends will always be there to bail you out and enrich you.

What, you don't have a millionaire father with millionaire friends?

Well, I do.

By Anonymous, at 3/09/2005 3:32 PM

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By Anonymous, at 12/28/2008 5:35 PM