I just heard on talk radio (which hardly happens, cause I don't listen to the radio next to never). They reported that T Gietner said that taxes on small bisiness NEEDS to be raised to keep up with the current spending by the Gov't. Here's a novel idea, how about cutting the rate of spending by the Gov't. We currently have more money flowing into the Gov't by tax payers than ever before, the problem as I see it is THEY are spending more than ever before.
Please tell me what the incentive the small "Mom & Pop" businesses are going to have to keep plugging away? I know we focus on BIG business, but where I went to school, we little guy's provide more jobs and pay more taxes than they do. And WE don't get bailout's, just more heaped on us. Speaking just for myself (and EVERY other small business owner I have talked to in the last couple of years), all we are doing (at best) is just staying afloat. We handle money, but none of it sticks anymore. It costs the majority just to meet the expense load. Has anyone else noticed how everything from fuel, shipping, parts, utility's, insurance, uniforms,labor and yes taxes in ALL forms have been going up. Look, I have a small but loyal market here where I live. I have worked extremely hard to keep those customers satisfied, not just in the quality of work (I am in 100% control of that), but I have kept my billable rate at a level they can afford. To do differently would to sqarely shoot myself in the foot. If you're not careful, you can price yourself out of any business.
What is going on cannot float for long. Once many of these (what used to be profitable businesses) go out of business, they simply will not have the capital to start back up again. Try going to the bank and getting "start-up" money now. Unless you have a crap load of colateral (most of which will be gone with the business) you're out of luck. I know people that have that type of colateral and the banks still won't talk with them about a new venture. We will NEVER EVER get back on our feet, if THEY don't quit kicking them out from under us. Call this a rant if you like, but I see this as nothing more than plain old common sense. Frank


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