If youre a high-tech entrepreneur, CEO or venture capitalist, Bushs re-election and his promisemade in his victory speech Wednesday afternoonof tax reform and Social Security changes should put more cash in your wallet.
The details of the Bushs plans will probably have to wait until his State of the Union address in January. Hes been clear about wanting to simplify the nations tax system, which he called "outdated" in his Wednesday speech. Thats something that many self-employed people and small businessesstartups and their backershave been urging Congress to do. Also, its generally thought that a tax code clean-up will mean changes in corporate tax structures, which are, again, good for the folks who run and back companies.
If youre reasonably well offmaking $150,000 a year or more or in a household with more than $200,00 a year in gross income, the Bush administration will be good for you, too. Youve already had your taxes cut. Bushs "ownership society" is also expected to mean more tax relief for individuals who can defer incomein special medical savings, IRAs and other accountsuntil retirement. Again, wealthier taxpayers do better because they are better able to find the money to set aside.
The theory is that these savings programs and reduced tax burdens will encourage investment and investment, in turn, will create jobs. Again, good for entrepreneurs, venture capitalists and CEOs. And, of course, good for tech workers, who will have more work at more prosperous companies.
Next Page: What it means for new workers.
Standalone journalist Chris Nolan runs 'Politics from Left to Right,' a political Web site at www.chrisnolan.com that focuses on the intersection of politics, technology and business issues in San Francisco, in California and on the national scene.
Nolan's work is well-known to tech-savvy readers. Her weekly syndicated column, 'Talk is Cheap,' appeared in The New York Post, Upside, Wired.com and other publications. Debuting in 1997 at the beginnings of the Internet stock boom, it covered a wide variety of topics and was well regarded for its humor, insight and news value.
Nolan has led her peers in breaking important stories. Her reporting on Silicon Valley banker Frank Quattrone was the first to uncover the now infamous 'friend of Frank' accounts and led, eventually, to Quattrone's conviction on obstruction of justice charges.
In addition to columns and Weblogging, Nolan's work has appeared in The Washington Post, The New Republic, Fortune, Business 2.0 and Condé, Nast Traveler, and she has spoken frequently on the impact of Weblogging on politics and journalism.
Before moving to San Francisco, Nolan, who has more than 20 years of reporting experience, wrote about politics and technology in Washington, D.C., for a series of television trade magazines. She holds a B.A. from Barnard College, Columbia University.