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Sohodojo Advisory Board Member
Jim Schneider
The Taxman86 Speaks...
14 June 2000
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Do not believe it; How do you keep your employees happy; and here we go again.

1. The Urban Mayors are happy again.

New Orleans is great and so is Long Beach California, or downtown Las Vegas for that matter, so say the Mayors, but is that really true. We have been to Long Beach, California recently, and to downtown Las Vegas, and New Orleans is probably just the same [downtown Los Angeles is not much better], and they still have a LONG WAY to go. High skill jobs go begging they say, but not in the inner city, we suggest.

If our information is correct, and it comes from the Wall Street Journal's Washington, D.C. Office, the House Ways and Means Committee will Markup the Distressed Communities Bill on June 15, 2000, and it goes to the House next week. Will 95 cities who have Enterprise Communities be included, only the Shadow Knows and he is not talking. Do the Mayors of New Orleans, Las Vegas, Seattle [the Conference of Mayors are meeting in Seattle], Buffalo, or Phoenix know, we do not think so.

Our Web Site will contain the language of the Draft Bill, and as they say, it is in the details, and this one will be real interesting. Housing is a big issue with the inner city mayors, too little, and too expensive. Have they heard of Home-based Businesses, and the tax advantages of same.

2. The employees are important says INC. Magazine.

We have read the greatest article on keeping employees happy, and it is a must reading.Build the perfect company town and the employees will come. Where are the tax issues in this article, and the use of same to keep employees happy.

3. Happy days are here again, so let the good times roll.

The Vice President wants everyone to know how it happened [they have cooked the numbers] and is promising to keep it going, on the Westside of New York City of course. What is he doing to let the Enterprise Communities enjoy in these good times. Come to downtown San Diego's Barrio Logan Mr. Vice President and give the same speech. How about going to Watts in South Central Los Angeles and see what has happened since May 1992, not much. Or check out downtown Long Beach, California around 10th and Long Beach Blvd. We have and it does not look very nice.

To hear it another way, check out our good friends at Sohodojo for a report on the recent National Federation of Independent Businesses Convention in Washington, D.C. Those small businesses owners are not too happy. [We still remember the Small Business Tax Cut Bill passed by the House in September 1998 that was killed by the President's veto threat because it would break the bank; projected cost, $80B over five years--it would have increased the Estate and Gift Tax Unified Credit to $1M, effective January 1, 1999, and provided for 100% deductibility of health care coverage, and increased IRC Section 179 deductions to $30,000].

Jim Schneider, LL.M.

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