I am not an economist, but I have noted that there is a cautious buzz suggesting that we might be at the bottom of this economic slowdown.

As a business owner and a consumer, I’m thrilled! Of course, there are many long, tough months ahead as we hopefully dig ourselves back out of this hole, but at least there is some hope.

Now is the time to focus on how you can take advantage of the slow economy for both yourself and your business. Even if you only have a tiny financial cushion left after the last 12 tight months, now is the time to use it! Here are some options to consider:

1. Services are cheaper – although it’s not universal, most service providers are more flexible with their rates – and may have even dropped their rates. Just like all businesses, service providers are anxious to do some great work for you to help boost their bottom line, and you can probably get lower rates and shorter terms

2. Labor is available and cheaper – the labor market is hungry for work, and many stellar employees have been laid off. Now is a great time to fill critical positions in your own company in preparation for increased business.

3. Rents are totally negotiable – if you have ever thought about expanding your physical space, now is a great time to do it. Many retail, office and warehouse locations have been vacant for 10+ months. Assume that the rate and terms offered are much higher than you should actually pay, and bring in a seasoned negotiator to help you if necessary.

4. Your competitors are still scared – the single greatest opportunity for you right now is to take advantage of your competitors’ lowered spending. They have likely pulled back on everything from advertising to customer service, and their customers know it! Now is the time to swoop in and impress everyone with your strength and moxie: show them that your business is still around and doing great!

Reprinted with permission from Israelnewsletter.com

So we now have the much anticipated Barack Obama economic plan with the centerpiece being wealth redistribution. Taking from the rich and giving to the poor, or maybe we could say it’s not allowing one to become rich and making people stay poor. Haven’t we tried this before and seen disastrous results. Throw in a little capital gains tax and we have a recipe for a continued economic slowdown.

My last post about how investors are spooked about the prospect of an Obama victory sure seems even more plausible after hearing about his proposal. Taxing capital gains, increasing taxes for the so-called rich, and giving tax credits to those who don’t even pay taxes to begin with sounds like a rehash of European economic policy for the last few decades and look at their situation.

While the tax raise is troublesome enough, the most scandalous part of his plan is to raise death taxes across the board to 45%. What a scam. We are about to enter into the biggest generational wealth transfer in the history of the world and Obama wants to take 45% of it? Where is the outcry? Why should the government see a penny of inheritance money? Hasn’t it already been taxed multiple times? Everyone speaks about how Obama is all about justice; well where is the justice in taxing already taxed money?

If he gets elected this plan will come back and bite the very same people he is trying to help. Inheritance as well as letting workers keep more money of what the earn is the way to increase individual prosperity. If you were to confiscate all the joint net worth of both Bill Gates and Warren Buffett, and you would distribute it evenly among all Americans how much would they end up getting? A couple of bucks at best. What kind of difference will that make to anyone.

This plan is outrageous, and will do nothing to help grow the economy. But heck, Barack, if you are in the giving mood, how about sharing some of the millions you made on your book?

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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.