For 15 straight quarters, small firms have contributed to employment growth — accounting for as much as 80% of job gains in any given quarter.” - Obamas head of the Small Business Administration. Small businesses are what make America great and they spend their money in your local community. You arent going to see Joes Autobody holding trillions of dollars in off shore accounts using complex tax navigation. Sadly lots of small businesses are still struggling from the after effects of the Great Recession. Yet government mandates continue to force small businesses to absorb costs they have never experienced, and in some instances even forcing them into the red. The Politicians always seem to talk about income inequality and how they are tackling it with regulation. My question is at what point in time do these regulations force large percentages of small businesses to collapse under the financial burden? Of course it will start with those employing 3-10. Then it would be 11-49. And so it would go. The larger businesses have a higher ability to absorb these extraneous expenses. At some point the politicians may realize they went too far, but by then we may have lost something we can never get back. I would have to imagine that would lead to further inequality as the concentration of wealth would be further consolidated. So when your hear a politician say something is free, think about small business America. It is the true backbone of our economy and free to Corporate America may mean one less employee for a small business. Just a thought.
Posted on: Wed, 21 Jan 2015 04:18:20 +0000
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