Well, it's official. Obama is the president elect. It will be interesting to see how America's small businesses are affected. I received the following email forward:
The plans of one small business owner
Dear Fellow Business Owner:
As a Business owner who employs 30 people, I have resigned myself to the fact that Barack Obama will be our next President, and that my Taxes and Fees will go up in a BIG way.
To compensate for these increases, I figure that our customers will have to see an increase in my fees of about 8%. I will also have to lay off six of my employees. This really bothered me as I believe we are family here and didn't know how to choose who will have to go. So, this is what I did. I strolled through the parking lot and found eight Obama bumper stickers on my employees cars. I have decided these folks will be the first to be laid off.
I can't think of more fair way to approach this problem. If you have a better idea, let me know.
I am sending this letter to all business owners that I know.
Sincerely,
Ward
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4 comments:
Perfect.
I love the excuses: "Taxes won't be more than they were under Clinton!" and "It's only 5% if you make over $250K a year!"
Um, that's $12K. Where I come from, that's a lot of money. A lot of money that doesn't belong to the government.
Nobody draws the connection. Everyone just thinks "OOOh free lunch! He's gonna help the middle class!" What about the businesses that employ said middle class?
People are idiots.
To clarify, that's 5% of an increase from what you're paying now. I think it's going from like 35% to 40% or something (approximately)
Seriously.
So when the Bush tax cuts expire, it's likely that Obama will not renew them... but hey, he didn't raise taxes, the cuts just expired! Catch 22.
And being forced to provide mandatory health insurance really makes me want to hire people.
Do we as the "more fortunate" have a duty to provide some aid for the less fortunate? Sure. I don't have a problem with that. That's Karma. If I were in a tough spot, I'd hope someone would help me out too. What I have a problem with is people expecting the hand out, and having it become a permanent solution.
As for the tax hikes, let us also recognize that on the surface $250k is a lot of money. However, in California, specifically in the Bay Area, it is not uncommon for a married couple, both of whom are employed in a professional capacity (think Banker and Insurance Adjuster) to have to worry making this kind of money. (God help you if you and your spouse are both lawyers at larger firms!!!) What our good friends in the government don't recognize is that $250k in California doesn't go nearly as far is $250k goes in Podunk, Iowa. Hell, I have colleagues that with their spouses pull in close to $300k a year and can't afford to buy a house! Where's their bailout or assistance?
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