Crains, Manhattan Chamber Congress, Senator Gillebrand, 5 Ws & H of proposal; 1 pager, $1trillion cash solution; Congressman Himes, Congressman Larson game changer book series

1. CONTENTS
Description Requested by Chamber of Congress President (5Ws & H) for
Senator Gillibrand & Editorial Board Crain’s NY Business P.2
Small Business Usage of Proposed Tax Benefit Exchange for Crain’s Reporter P.3
Better Solution to Repatriate $1 Trillion of Foreign Profits back to US re NYtimes P.4
Letter to Senator Blumenthal from iklein@electronic-boardroom.com P.5-6
Letter to Congressman Larson & Senator Himes iklein@electronic-boardroom.com P.7-8
Support Response from US Congress Representative Himes P.9
Letter to Chairman House Ways & Means Committee, Dave Camp P.10
Frequently Asked Questions p.11-12
Electronic Venture Game Changers Series: Formulas to Capitalize on
The 5th Estate Megatrend P.13
1

2. Description Requested by Nancy Ploeger, Chamber of Congress President
to Senator Kirsten Gillibrand & Editorial Board Crain’s NY Business
Who:
 Technology & Marketing Ventures Inc. (TMVi) is a woman-owned, Manhattan Chamber of
Commerce business and British Airways’ Face of Opportunity contest winner.
 June Klein, CEO is a financial information technologist known for positively changing
competitive landscapes in electronic governance and trading.
 TMVi’s General Counsel reinvented a corporate tax benefit sale program to benefit
small businesses.
Why:
 Evidence exists that being able to actually use depreciation deductions creates jobs and
jumpstarts the US economy, but it requires a tax law tweak.
 #1 problem at Global Entrepreneur’s Conference was bank reluctance to fund small business
growth.
Where & When:
 Proposal needs to reach the House Ways and Means Committee and the Senate Finance
Committee for approval asap.
What:
 TMVi Tax Benefit Exchange™ proposal allows a small business to sell its Section 1245
depreciation on newly purchased equipment to any other US taxpayer. The sales price would
be at a market price determined on a bid and asked basis.
 Private capital, without public funds, would be used to create the Tax Benefit Exchange. There
would be no secondary market to avoid complexities in enforcement. Thus, private capital
would be used to partially fund small business growth and private employment.
 This private marketplace would enable small businesses to monetize unused new depreciation
tax benefits. Since the depreciation deduction is already in the law and scored by the
Congressional Budget Office, no increase in the deficit would occur.
How:
 The Tax Benefit Exchange proposal more efficiently uses the depreciation tax benefit already
enacted by Congress.
 The IRS administration of the sale of depreciation deductions would require a simple form
similar to Form 8023 which allows for the election of Section 338(h)(10). The buyer and seller
would each sign the form with their names, addresses and tax ID numbers and attach it to
their returns. The tax basis of the asset for which the depreciation is sold would be zero while
the book basis remains unchanged.
Contact June Klein
jklein@tmv.com T: 212/628-2178 C: 917-601-2444
http://the-5th-estate.com http://5th.electronic-boardroom.com/handout2011feb9.pdf
2

3. March 18, 2011 jklein@tmv.com for Crain’s Reporter: Eilene Zimmerman
Small Business Usage of Proposed Tax Benefit Exchange
The Tax Benefit Exchange enables small businesses to sell depreciation deductions for
cash. A depreciation deduction is a deduction against income not a credit against tax.
Corporations and individuals who are at the top tax rate of 35% can benefit most from
utilizing the depreciation deduction.
Most small businesses are S corps or LLCs. S corps and LLCs do not pay tax. The tax is
paid by the stockholder (for a S corp) or the member (for a LLC).
Below is an example of a small business that will benefit if legislation is passed by
Congress and will not benefit under current tax law.
Example for 2011 Tax Return- Newco is a LLC or a S corp It has income of $1,000,000,
expenses of 1,000,000 and a 100% bonus depreciation deduction of $1,000,000 for 2011.
June owns all of the LLC or S corp. Assuming no other deductions, Newco as a pass
through would result in June reporting:
$1,000,000 Gross income -1,000,000 employee expenses - 1,000,000 depreciation expense=
($1,000,000) loss. If June does not have $1,000,000 of income on her personal 1040 return,
the depreciation deduction gives June no current tax benefit.
If Congress passes legislation allowing the sale of depreciation deductions, Newco could
sell the $1,000,000 depreciation deduction to another taxpayer who has tax liability.
Newco could get $300,000+ from a taxpayer who is in the 35% tax bracket on a bid and
asked basis for the $1,000,000 depreciation deduction.
The $300,000+ cash amount could then be used to reduce debt, use as working
capital, hire more employees or expand the business.
If Congress does not pass legislation allowing the sale of depreciation deductions, Newco
will have $300,000+ less cash and will likely not be able to currently reduce its debt,
increase its working capital, hire more employees nor expand the business. Every
taxpayer is different. The Tax Benefit Exchange gives the small business owner another
option to help finance growth and hire more employees immediately.
3

4. In response to: “Apple, Cisco, Google, Seek Tax Relief to Repatriate Cash”
Editor in Chief EBN 3/24/2011 and
http://dealbook.nytimes.com/2010/10/27/u-s-companies-hoarding-almost-1-trillion-cash/
US companies have more than $1 trillion in cash outside the country, funds they could use to create jobs at home -- but they
lack the incentive to do so because of the taxman, according to a new organization set up to prod Congress on the issue.
More than two-thirds of the organization's 18 supporters are technology companies involved either in software development
or electronics hardware design and sales. They include Adobe Systems Inc. (Nasdaq: ADBE), Apple Inc. (Nasdaq: AAPL),
Broadcom Corp. (Nasdaq: BRCM), CA Technologies (Nasdaq: CA), Cisco Systems Inc. (Nasdaq: CSCO), EMC Corp.
(NYSE: EMC), Google (Nasdaq: GOOG), Microsoft Corp. (Nasdaq: MSFT), Oracle Corp. (Nasdaq: ORCL), and Qualcomm
Inc. (Nasdaq: QCOM). In fact, it wouldn't be stretching the truth to say the supporters of this initiative are mainly American
technology companies with huge cash hoards outside the
country.http://www.ebnonline.com/author.asp?section_id=1038&doc_id=205093
Better Solution to Repatriate $1 Trillion of Foreign Profits back to US
Ira Klein, Tax Law Expert 3/25/2011 12:59:07 PM
Ira & June Klein of Technology & Marketing Ventures Inc have sent a solution to US Senator Gillebrand (NY) to propose
legislation to permit the sale of new depreciation deductions without increasing the deficit. We are calling upon technology
companies who are at the 35% tax rate, to support the proposed legislation and get it passed.
If the $1 trillion of cash coming back from foreign profits were to be used to fund small businesses per the TMVi Tax Benefit
Exchange, repatriation of $1 trillion of foreign profits by US corporations would improve the US economy and create US jobs.
Small businesses create 70% of all new private sector jobs while large corporations produce less than 30% of new private
sector jobs. The 2004 experience permitting a tax holiday in the repatriation of foreign profits produced marginal benefits to
the US economy.
The TMVi Tax Benefit Exchange would permit the tax free repatriation of foreign profits if those profits are used to buy unused
new depreciation deductions from small businesses. This purchase would benefit small businesses by providing cash from
unused new depreciation deductions and effectively lowering their new equipment costs. Small and large businesses would
benefit from TMVi Tax Benefit Exchange's streamlined simple process of matching/settling the sale of depreciation benefits
with buyer's purchases.
Further, such a purchase would provide a net profit to the large US corporation = difference between the 35% tax rate and the
tax benefit purchase price cleared on the TMVi Tax Benefit Exchange. Thus technology companies who generally pay taxes
at the top rate would benefit. http://5th.electronic-boardroom.com/handou-tax-benefits-exchange
4

5. Letter to Senator Blumental from iklein@electronic-boardroom.com
----------------------------------------------------------------------------------------------------------------------------
March 11, 2011
Senator Richard Blumenthal
G55 Dirksen Senate Office Building
Washington, DC 20510
RE: How Small Businesses Can Get Private Capital and Create Jobs:
Meeting Request to Propose Solution to Senate Finance Committee
Dear Senator Blumenthal:
I write to you as my senator in Washington, DC. I have previously written Congressman
Jim Himes, as my local Congressman, and to Congressman John Larson, as the
Connecticut member of the House Ways and Means Committee.
I am a Westport resident, former Senior Tax Counsel for Danbury’s Union Carbide / Dow
Chemical and adjunct Professor of tax law for the MBA and CFP programs at Fairfield
University. Further, as a qualified tax lawyer, JD BU Law and LLM in tax NYU Law,
who previously worked for a Wall Street law firm, I am not representing any client and
have created the enclosed tax proposal pro bono. The US faces a serious job crisis and
needs to explore solutions. Yet, my attempts at using standard social change platforms
such as comments on articles or government websites have resulted in responses like:
continuously asking for donations, “no response” which is good for a venter, we’ll get back
to you in 4-6 months, here is our repetitive newsletter which has nothing to do with the
question you asked…
My intent is to be constructive by:
 addressing President Obama’s ongoing calls since 11/5/2010 for innovative ideas
directed at small businesses which account for 70% of all new private sector jobs;
 creating, focusing and shortening a feedback loop from expert solution providers to
government decision makers in order to solve the US job problem.
I have drafted a deficit neutral, bipartisan flow process to help US small businesses
obtain private capital and hence grow their business and employ US workers. I enclose a
copy of the proposal: “Tax Benefit Exchange: How Small Businesses Can Get Private
Capital and Create Jobs.” The tax proposal is contained in the first 5 pages. The tax
proposal is also an application of a social change platform for public initiatives.
My wife, June Klein, developed a “distributed public expertise” web site in association
with the Oxford Internet Institute, Oxford University UK, to post fresh ideas to solve
government problems and recently won a small business award from British Airways. At
the British Airways London event honoring global entrepreneurial winners, Lord Stephen
Greene the UK Minister for Trade and Investment requested the Tax Benefit Exchange
proposal and is evaluating it as a way to increase small business growth and decrease UK
unemployment.
5

6. The Tax Benefit Exchange proposal allows a small business to sell its Section 1245
depreciation on newly purchased equipment to any other US taxpayer. The sales price
would be at a market price determined on a bid and asked basis. Private capital, without
public funds, would be used to create the Tax Benefit Exchange. There would be no
secondary market to avoid complexities in enforcement. Thus, private capital would be
used to partially fund small business growth and private employment. Such a private
marketplace enables small businesses to monetize currently any unused new depreciation
tax benefits encouraged by Congress. Since the depreciation deduction is already in the
law and scored by the CBO, no increase in the deficit would occur. The Tax Benefit
Exchange proposal more efficiently uses the depreciation tax benefit already enacted by
Congress.
The IRS administration of the sale of depreciation deductions would require a simple
form similar to Form 8023 which allows for the election of Section 338(h)(10). The buyer
and seller would each sign the form with their names, addresses and tax ID numbers and
attach it to their returns. The tax basis of the asset for which the depreciation is sold
would be zero while the book basis remains unchanged.
At the conference in London, UK attended by many US small businesses and start ups,
the common theme was their inability to get capital. SBA loans while well intended were
insufficient, plus the paperwork was an added burden. The Tax Benefit Exchange
proposal puts the power in the hands of small businesses to quickly obtain private capital
to reduce the cost of obtaining new equipment or fund working capital.
As you know, a form of this proposal was enacted in 1981 in the Economic Recovery Act of
1981. President Reagan had just won the election in part because of the severe recession
in 1980 which had unemployment rates similar to the rates today. While I do not have
empirical data to support it, anecdotal evidence supports the sale of tax benefits as a way
to increase GDP and increase employment. I worked on many transactions involving the
sale of tax benefits in 1981 and 1982 until its repeal in 1983. The problem with the 1981
law was that it was so complex that only large corporations like Union Carbide
Corporation could benefit under a cost-benefit analysis.
In short, the Tax Benefit Exchange gives small business the power to partially fund their
capital needs using private capital with no additional cost to the US treasury. The US
government only needs to be an enabler to permit the sale of new depreciation deductions.
Let the market efficiently help small businesses utilize the tax depreciation deductions
recently enacted by Congress.
I would welcome the opportunity to meet with you in Connecticut or Washington. Kindly
respond to me via my cell 203/858-5186 with a date and time as soon as possible so we can
jumpstart this small business, job creation solution with a tweak in the tax law.
Respectfully,
Ira Paul Klein
Enclosure: 14 page proposal: Tax Benefit Exchange
launched by http://the-5th-estate.com integrated by http://dpe.electronic-boardroom.com
6

7. Letter to Congressman Larson and Senator Himes iklein@electronic-boardroom.com
---------------------------------------------------------------------------------------------------------------------
March 7, 2011
Honorable Jim Himes
119 Cannon House Office Building
Washington, DC 20515
Honorable John Larson
1501 Longworth House Office Building
Washington, DC 20515
RE: How Small Businesses Can Get Private Capital and Create Jobs:
Meeting Request to Propose Solution to House Ways and Means Committee
Dear Congressmen Himes and Larson:
I write to you Mr. Himes, as my local Congressman, and to you Mr. Larson, as the
Connecticut member of the House Ways and Means Committee. I am a Westport resident,
former Senior Tax Counsel for Danbury’s Union Carbide / Dow Chemical and adjunct
Professor of tax law for MBA and CFP programs at Fairfield University. Further, as a
qualified tax lawyer, JD BU Law and LLM in tax NYU Law, who previously worked for a
Wall Street law firm, I am not representing any client and have created the enclosed tax
proposal pro bono. The US faces a serious job crisis and needs to explore solutions. Yet,
my attempts at using standard social change platforms such as comments on articles or
government websites have resulted in responses like: continuously asking for donations,
“no response” which is good for a venter, we’ll get back to you in 4-6 months, here is our
repetitive newsletter which has nothing to do with the question you asked…
My intent is to be constructive by:
 addressing Obama’s ongoing calls since 11/5/2010 for innovative ideas directed at
small businesses which account for 70% of all new private sector jobs;
 creating, focusing and shortening a feedback loop from expert solution providers to
government decision makers in order to solve the US job problem.
I have drafted a deficit neutral, bipartisan flow process to help US small businesses
obtain private capital and hence grow their business and employ US workers. I enclose a
copy of the proposal: “Tax Benefit Exchange: How Small Businesses Can Get Private
Capital and Create Jobs.” The tax proposal is contained in the first 5 pages. The tax
proposal is also an application of a social change platform for public initiatives.
My wife, June Klein, developed a “distributed public expertise” web site in association
with the Oxford Internet Institute, Oxford University UK, to post fresh ideas to solve
government problems and recently won a small business award from British Airways. At
the British Airways London event honoring global entrepreneurial winners, Lord Stephen
Greene the UK Minister for Trade and Investment requested the Tax Benefit Exchange
proposal and is evaluating it as a way to increase small business growth and decrease UK
unemployment.
7

8. The Tax Benefit Exchange proposal allows a small business to sell its Section 1245
depreciation on newly purchased equipment to any other US taxpayer. The sales price
would be at a market price determined on a bid and asked basis. Private capital, without
public funds, would be used to create the Tax Benefit Exchange. There would be no
secondary market to avoid complexities in enforcement. Thus, private capital would be
used to partially fund small business growth and private employment. Such a private
marketplace enables small businesses to monetize currently any unused new depreciation
tax benefits encouraged by Congress. Since the depreciation deduction is already in the
law and scored by the CBO, no increase in the deficit would occur. The Tax Benefit
Exchange proposal more efficiently uses the depreciation tax benefit already enacted by
Congress.
The IRS administration of the sale of depreciation deductions would require a simple
form similar to Form 8023 which allows for the election of Section 338(h)(10). The buyer
and seller would each sign the form with their names, addresses and tax ID numbers and
attach it to their returns. The tax basis of the asset for which the depreciation is sold
would be zero while the book basis remains unchanged.
At the conference in London, UK attended by many US small businesses and start ups,
the common theme was their inability to get capital. SBA loans while well intended were
insufficient, plus the paperwork was an added burden. The Tax Benefit Exchange
proposal puts the power in the hands of small businesses to quickly obtain private capital
to reduce the cost of obtaining new equipment or fund working capital.
As you both know, a form of this proposal was enacted in 1981 in the Economic Recovery
Act of 1981. President Reagan had just won the election in part because of the severe
recession in 1980 which had unemployment rates similar to the rates today. While I do
not have empirical data to support it, anecdotal evidence supports the sale of tax benefits
as a way to increase GDP and increase employment. I worked on many transactions
involving the sale of tax benefits in 1981 and 1982 until its repeal in 1983. The problem
with the 1981 law was that it was so complex that only large corporations like Union
Carbide Corporation could benefit under a cost-benefit analysis.
In short, the Tax Benefit Exchange gives small business the power to partially fund their
capital needs using private capital with no additional cost to the US treasury. The US
government only needs to be an enabler to permit the sale of new depreciation deductions.
Let the market efficiently help small businesses utilize the tax depreciation deductions
recently enacted by Congress.
I would welcome the opportunity to meet with either of you in Connecticut or
Washington. Kindly respond to me via my cell 203/858-5186 with a date and time as soon
as possible so we can jumpstart this small business, job creation solution with a tweak in
the tax law.
Respectfully,
Ira Paul Klein
Enclosure: 14 page proposal: Tax Benefit Exchange
launched by http://the-5th-estate.com integrated by http://dpe.electronic-boardroom.com
8

9. RESPONSE FROM CONGRESSMAN JIM HIMES OF CT:
June 27, 2011
Dear Mrs. Klein,
Thank you for sending me your thoughts and a copy of your published research on jumpstarting the American economy
and creating American jobs. I appreciate your comments and am grateful that you took the time to contact me.
I believe that in these difficult economic times, all ideas must be on the table. Your proposal to allow businesses to sell
unused tax credits to other businesses to fund capital investments is quite interesting, and I am grateful that thoughtful
constituents such as yourself are taking the President up on his offer to hear ideas that could stimulate this country's
economic growth and create private sector jobs.
If you have any additional questions regarding this or other issues, please do not hesitate to contact my office. You can
sign up for my newsletter and find more information on my views and my work in Congress by visiting my official
website at himes.house.gov.
Sincerely,
Jim Himes
Member of Congress
9

10. TO: The Honorable Dave Camp, Chairman House Ways & Means Committee
FROM: June Klein, CEO and Ira Klein, General Tax Counsel of Technology & Marketing Ventures Inc.
jklein@tmv.com T: 212.628.2178 fax:212.744.2089 C: 917.601.2444
______________via FAX TO: 202/225-9679 Date: June 9, 2011___________________________
JOB GROWTH SOLUTION FOR HOUSE WAYS & MEANS COMMITTEE USING PRIVATE CAPITAL
The single biggest problem facing our country today is the lack of job growth by small businesses.
Economists almost uniformly agree how to create new US jobs.
1. New jobs must come from the private sector; 67% of all new jobs come from small businesses.
2. Banks must increase the flow of capital to small businesses. Banks have decreased their lending to
small businesses.
3. Tax incentives add more revenue to the US treasury than they cost.
4. Tax incentives and tax “rebates” to small businesses are needed to allow small businesses to start
up new businesses and expand existing small businesses.
Above is what is needed to create US jobs and below outlines the solution to making it happen.
TMVi Tax Benefit Exchange™ creates incentives set forth by economists to create new small business jobs.
1. The sale of new depreciation deductions by small businesses to private third parties act as a cash
rebate for new and existing small businesses. However, the cash rebate comes from private capital
not the government.
2. The cash rebate through the sale of new depreciation deductions can be assigned to the bank
financing the acquisition of new equipment thereby reducing the outstanding indebtedness to the
bank. This structure would increase the free flow of capital to small businesses by assigning a
“cash” asset to the lending bank.
3. TMVi Tax Benefit Exchange™ does not require a new tax incentive; it only requires a change in the
tax law to allow small businesses the ability to sell an existing tax incentive. The existing tax
incentive to be sold is the depreciation deduction currently allowed to small businesses for newly
purchased equipment. The sale of tax depreciation for new equipment would be sold at FMV on a
bid and asked basis. This sale of depreciation deductions would enable small businesses to monetize
new tax depreciation deductions it cannot currently use. This private capital can be used to reduce
debt, expand the business, maintain or hire new employees. Since current tax depreciation is an
existing tax incentive already scored by the CBO, there is no increase in the deficit. Quite to the
contrary, increasing small business opportunities, employment and growth will increase GDP and
US treasury revenue.
4. The genesis of this idea that tax incentives can be sold has its roots in the Reagan administration
tax proposals in 1982-1983. During this period, unemployment approached 10% similar to the
unemployment rate that exists today. Anecdotal evidence in 1984 supports the notion that the sale
of tax benefits will increase employment and increase tax revenue for the US treasury.
5. TMVi Tax Benefit Exchange™ proposal was the feature article in Crain’s New York Business dated
May 9, 2011. Please click on this link for online version or Google “Crains June Klein”
http://crainsnewyork.com/article/20110508/SMALLBIZ/305089992
6. A more detailed explanation of TMVi Tax Benefit Exchange™ proposal is available upon request
from you or your staff. What is needed in order for you to propose this to your committee?
10

11. FREQUENTLY ASKED QUESTIONS
Q1. What is the Tax Benefit Exchange (TBE)?
A. The TBE is an online exchange which matches sellers and buyers of new depreciation deductions.
The sellers are small businesses and start-ups that buy new equipment but cannot currently use
the new depreciation deduction. The buyers are US business taxpayers who use private capital to
buy the seller’s new depreciation deductions. Such buyers reduce their US income tax liability by
buying the new depreciation deductions from the small business/start-up sellers. The price for the
new depreciation deductions is FMV determined on a bid and asked basis.
Q2. Will the TBE increase the US government’s deficit?
A. No. The TBE uses existing depreciation deductions already scored (calculated) by the
Congressional Budget Office. In fact, the TBE is expected to reduce the deficit by stimulating small
business growth, employment and revenue by the 1.6 economic multiplier effect.
Q3. Will the TBE require the use of government money?
A. No. Private capital alone is used to buy the new depreciation deductions from small
businesses/start-ups. Existing tax laws allowing depreciation for new equipment are used; no
new tax incentives are required from the US government. Only a small change in the tax law
allowing the sale of new depreciation deductions under current tax law is required.
Q4. Will the TBE increase US gross domestic product (GDP)?
A. Yes. The TBE allows small businesses/start-ups to monetize (receive cash for) its new
depreciation deductions they currently cannot use. These funds are used to i) reduce debt of
equipment purchased, ii) provide working capital, iii) expand or maintain existing business and/or
iv) hire new employees. The use of the funds in these activities increases GDP.
Q5. Will the TBE increase US employment?
A. Yes. As small businesses grow and start-ups appear, US employment increases. Since
approximately 70% of all new private sector employment comes from small businesses and start-
ups, the TBE will directly and favorably increase US employment.
Q6. How will the TBE be administered by the Internal Revenue Service (IRS)?
A The TBE will send a 1099 form for every transaction to the IRS, seller and buyer. Further, the
IRS will create a one page form to be signed by the seller and buyer. The form contains i)
description of the property whose depreciation is being sold, ii) a copy of the purchase order for
the equipment iii) addresses of the seller and buyer, and iv) the tax ID numbers for the seller and
buyer. Both seller and the buyer must attach a copy of this new one page form to their respective
tax returns for the year of the sale of new depreciation deductions.
11

12. Q7. Will the seller have to report gain or loss on the sale of new depreciation deductions?
A. No. Since the seller is not selling the property, it will not report gain or loss on the transaction.
However, the seller will make a basis adjustment to zero as if the asset is fully depreciated for
tax purposes. Gain, loss, recapture would then follow existing tax rules. There is no change of
cost basis for book purposes.
Q8. Why isn’t the use of the proceeds strictly tied to job creation?
A. There are already a small amount of credits linked directly to increases in employment which have
not worked. A few years ago, Congress passed a one-time repatriation of foreign earnings at 8%
if the money was used to increase jobs and this legislation was a failure for various reasons.
On the other hand, the reason the 1982-1983 tax benefit sale legislation was so successful was
that it did not limit the use of the funds received on the sale.
Jobs come from small businesses and businesses supplying equipment to small businesses.
Small businesses should decide where to use the money instead of government micro
managing the small business. If business expands, they will employ more people.
Q9. Why not tie small businesses’ ability to sell their tax depreciation deductions based on the
salaries of employees hired with funds gained from the auction?
A. Limiting the sale of depreciation deductions to reinvestment in jobs is difficult for the IRS to
administer. Tracing the funds received on the sale of depreciation deductions to see if jobs are
created would require a significant increase in the IRS’s budget to avoid the prospect of fraud.
In addition, the tying of salaries to deductions would result in an auction process that would
create uncertainty in the mind of the buyer. Thus, the buyer either would (i) not buy or (ii)
require an indemnity from a small business which is not practical or (iii) require a substantial
discount from the seller thereby making the sale uneconomical for the seller.
Q10. What is the next step to implement the TBE? When will it happen?
A. Congress must change the tax law to permit the sale of new depreciation deductions.
Currently, Rep. Dave Camp of Michigan, Sen. Kirsten Gillibrand of New York, Reps. John
Larson and Jim Himes of Connecticut have reviewed the proposal and are working on getting
the proposal on the table. In fact Rep. Jim Himes has written on June 27, 2011, “I believe that
in these difficult economic times, all ideas must be on the table. Your proposal to allow
businesses to sell unused tax credits [deductions] to other businesses to fund capital
investments is quite interesting…” Favorable press includes Crains New York Business and
other publications.
We are creating an internet movement to push the House Ways and Means Committee and the
Senate Finance Committee to implement this novel approach to jump start the small business
economy and increase US employment. Also driving this tax law change is the 2012 election
campaign which is demanding real job solutions. We expect passed legislation by November
2012. The TMVi Tax Benefit Exchange is ready to go right now.
12

13. Electronic Venture Game Changers Series:
Formulas to Capitalize on The 5th Estate Megatrend
June Klein
June Klein, Chair of The 5th Estate Innovators…
10 Leaders that expand upon Oxford
Internet Research to Solve Global Problems
This research report by the Director of the Oxford Internet Institute outlines 8
strategies to enable citizen experts to solve public policy problems.
Expanding upon the Oxford Internet recommendations above, this ebook describes an
application launched on the-5th-estate.com social change platform. The CEO &
General Counsel of Technology & Marketing Ventures Inc presented this solution at
Oxford Said and to the UK Minister of Finance. US Senator Gillebrand (NY) is reviewing
it. Crains Business NY is writing an article describing how small businesses will be
empowered by monetizing their unused depreciation deductions. This will enable
entrepreneurs to hire staff and jumpstart the economy without affecting the deficit.
The 5th Estate Innovators are 10 firms that will build upon Oxford Internet Institute 5th
estate Research. They will receive a trailer of the upcoming 5th estate book to be
published by Oxford University Press in 2012 and they will be included in a 5th estate
groundbreaking event. With this grounding, the 5th Estate Innovators can start creating
Next Practices. This is in contrast to emulating Best Practices that are a step behind a
rapidly evolving world.
Contact June Klein jklein@tmv.com
13