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Why Obamas Tax Increase is not the Only Problem to Small Business

By
Real Estate Agent with Morris Williams Realty

 

I have been reading many posts over the last few weeks about the impact of the "tax increases" on small business.  Its really so much more involved than that. Anyone who has started a business and seen the unbeliveable amount of red tape it takes just to get the doors open, and then to keep them  open, can readily understand. Its not easy to be in business, and to make the 250k net after all the roadblocks is not an easy task.

As someone who fought thru over 20 yrs of owning businesses with hundreds of employees over this time, I can honestly say that I would have been better off taking my skills into a corporate job that would have paid me salaries, benefits, and retirement funds.

Now, there is a thought that says my employees would have had to have gotten a job somewhere else, all my years of community involvement, charitable contributions, et all, would have gotten by somehow,,someone else would have done all that our companies provided.

Or would they not... Actually, since I sold or closed several businesses, only one has been maintained. As the governmental agencies made it more and more difficult to remain in business, I had less and less of an incentive to keep them all going. Taxes are just a small part of it.

So, as unemployment in the sectors of 50 or less employees continues to rise, try to think beyond taxes. My garbage rates were 5 times home rate, electric and other utilities were more than 3x..We had to pay for inspections, weird fees, business lic, state lic, fed lic, county permits, taxes on my furniture, computers, and even had to pay taxes on my uncollected accounts,  Yes, if someone owed me money I had to pay tax on that as well.

Employees, workmans comp, unemployment, non stop insurance premiums that would cancel you if you did anything other than pay the premiums, it went on and on and on.  Oh yeah, I had to pay accountants, lawyers, and CPAs just to keep the books straight, and a lot more than what I have taken the time to write here....We have way to many partners in business that do nothing but stand there with thier hand out and just charge more if you resist. 

In my humble opinion, these are the real reasons businesses are closing...its a conspiracy of non stop government squeezing the life out of old fashioned entrepreneurs. No, the small business won't make over 250k per year, because it gets raped all the way to the bank.

 

Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Mike -  I believe that your concerns are well founded.  That's just one of the reasons I was and am not in favor of the bail-out both candidates eventually supported.  In my opinion, the structure & health and very backbone of our economy starts with small business.  I'm all for Capitalism, but not under the guise of the not so thinly veiled Corporate Control it has brought to the masses.  My guess is that we will be fine and we will work things out, I just hope we learn not to ever take Greed lightly again.

Nov 09, 2008 06:23 PM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

hello Jason.......this bail out and the way the public has reacted to how the banks are just spending the money and not using it to make housing loans...reminds me of the scene from Pirates of the  Caribean, where the girl is amazed at how Jack Sparrow could have done such dastardly deed after they had just been so kind to them. He simpley turned to them and explained " PIRATE"  I got it  COngress did not

 

Nov 09, 2008 10:57 PM