Are you going to layoff employees or go out of business?
I manage a small business with 5 employees (I am one of them). Each employee (including me) earns about $50,000 a year. Unfortunately, under the new Obama tax plan, we will be hit hard because our salaries alone total $250,000. This doesn't include the operating expenses associated with running a business (rent, electricity, services, medical benefits, etc.). Our business turns a net profit, but it is not sizeable (maybe $3,000 a year). The main reason the business exists is to provide jobs for the employees. I **** to fire employees that have been doing a great job, but I cannot see any alternative. After being hit by Obama's tax we will be in the red each year. I would consider a single person who has $250,000 at their disposal to be somewhat wealthy. A business with a mere $250,000 can barely survive in today's world of inflation. It's a shame that so many American's have voted to destroy small business. Firing employees that have done a great job just isn't right. Unfortunately, I think we will have to just cut our losses and go out of business before we go into debt.
It's a real sham that small businesses that give it their all to succeed will be destroyed, while wall street, auto, and banking industries all enjoy fat bonuses at no expense to them. These are the people making MORE than $250,000 a year for a single person.
What are you all doing about this?
Pool of blood: Yes, I know outsourcing is a choice, but it harms America's economy. It's just what Obama would want. I want AMERICANS to benefit from my business.
Kebert Xela: We actually experienced record profits for 2008. Our company's goal is to better the life of its employees. One year we only make $50 profit, but we were still in the black. $3000 is great and we are happy with that so long as we can continue doing business with all our employees having a job with us.
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Comments on Are you going to layoff employees or go out of business?
Liar. You obviously don't have an ounce of business sense or you wouldn't be posting this trash.
If you're displeased with the choices made by the majority in this democratic system, you can always move to some other country more in tune with your personal beliefs.
Overall, though, the good of the many outweighs the good of the few. And you are the few.
Good luck.
You need to learn to lie better.
Obama's tax plan also gives more money to the Middle Class. In other words, your customers will have more money to spend on you.
The reason you aren't making that big a profit is because your customers have no money right now. That is because Bush spent like crazy on the Iraq War, but did not raise the funds to pay for it.
He borrowed from other countries, and when the war went longer than expected (its been 6 years when he expected only 6 months), he had to borrow more and more. The other countries were still willing to chance lending to us, but hit us with even higher interest rates to account for the risk.
So we may be spending billions on just war operations, but it has gone to the trillions when you add on interest. To illustrate, when Bush got to office we had a $4 trillion National Debt. It is just about to reach $11 trillion.
That means that in 8 years, Bush was able to spend $3 trillion MORE THAN DOUBLE the debt all previous 42 Presidents managed to amass, and they needed 224 years to do it.
That massive increase scared investors into backing away from the dollar and pulling out their investment capital; which in turn dropped the value of the dollar. And since in a Capitalist economy the currency is the foundation, when it collapsed so did the economy right behind it.
And with it, the savings and many of the jobs of your customers. Which means they cannot afford to buy your products and you lose money.
But Obama's plan is giving them money again, providing them with jobs so that they have increased confidence in their ability to buy in our economy, and establishing an infrastructure that will save you immense amounts of money on repair, shipping, and communication costs.
So not only do you save more money, you also make more money. So you won't have to lay off anybody, and in fact you should be doing a lot better.
Just like the last time you posted this, and the time before that, and the time before that.
Add-on:
Of course, $3000 is great. Wouldn't more be better?
Obama's plan is well designed to get you more. So what is the problem?
I don't own a small business, nor do I manage one, but I know enough to know I'd be looking into who I would let go if I had to because, after all, if the money is not there, it's not there. Another option could be to decrease wages across the board, but it might be best to let one person go than work with four others that are really pissed off. Their level of production will almost certainly drop as their morale drops with the income.
I'm not sure the question you ask at the end is the right one to ask. What is there for us to do about it? First, Obama has been elected, Democrats have taken more seats than they have, and they nearly have control of both the House and Senate. Furthermore, courts are tending to make liberal decisions on the federal level in some places, hurting businesses in some cases.
Lastly, the attitude of expecting someone to do something for you is what got us Obama to begin with. Too many people didn't want to take responsibility for their own lives, or they thought they were owed something for nothing, and Obama promised something for nothing. Actually, he promised a lot of somethings for nothing. As economics work, the people will have to give something in tax increases. But my point is they wanted someone else to do something about their problems. They asked, Obama answered.
There is the future, and people can contact their legislators, but it doesn't seem like it would do all that much right now. It certainly will not stop tax issues coming from the new administration soon.
"What are you all doing about this?" you ask? Do you really want to ask that? Someone might offer help, but expect more than you can give in help. Beware of what you wish for.
er… I think the 250K number is for individual income taxpayers only… and since you only make 50K… you will not be hit…
and business taxes will be a completely separate issue… with different totals… since business taxes are completely different than income taxes…
you're mixing apples and oranges and making assumptions here…
and I find it hard to believe that you own a business and pay taxes… and you don't know the difference or would assume that there isn't going to be one…
I don't believe you!!
HAVE I STUMBLED IN TO A RACISTS TRAP AGAIN…OH WILL I EVER LEARN!
Yeah, you dont understand the term marginal tax rate. Seriously, you clearly do not own a business.
Obama will hurt business badly, but real business, not made up business.
Kerbert, you really dont know what youre talking about. You know just enough to talk about these issues while not understanding them. Maybe brush up on economics?
Yes I plan on laying off everyone who supported Obama.