“First they ignore you, then they ridicule you, then they fight you, then you win.” – Mahatma Gandhi

Wednesday, October 15, 2008

Obama's Tax Plan

Aside from Obama's statement, umm I mean promise, to give everyone a tax cut (which means 40% of the people get a check since they don't pay taxes), there is this issue of taking away the Bush tax cuts. (One hand gives while the other takes)

I'll have to admit I haven't really payed that much attention to the details as it isn't going to affect my vote. However, I have friends who it will impact heavily and they are very, very concerned.

I was talking to a friend Monday who's husband has a partnership. The company, on the books, makes over Obama's $250,000 line. However, they invest a large chunk back in the business AND it's split between two families. They've looked at the plan and they figure it will put them out of business. With the economy being like it is at the moment, the two owners have already substantially cut back their own salaries in order to keep all of their employees. There is light on the horizon for this successful business... as long as Obama doesn't enact his business stopping plans.

I have a small business but not one that should be directly affected by the Obama's tax plans. Indirectly it stands to kill our business. We depend on advertisers to pay the bills. We're doing fine right now, even with the economic crisis. However, as businesses cut back funding for things like advertising will be heavily decreased.

I was listening to a financial program this morning. They were discussing McCain and Obama's plans. One thing I found very interesting is that Obama's advisers are from think tanks, colleges, and they're academics. McCain's advisers are CEO's and business types.

Guess who I want advising our President? It sure isn't someone who's never run a business, dealt with a payroll or had to make decisions that affect their bottom line.

I used to work for a large company, quasi-government. It was a cush job. Being a work-aholic with drive and a need to please, I worked my butt off and rose fairly fast in the ranks. However, while I had to hire and fire, deal with budgets and the bottom line of my area of responsibility, I really didn't see the big picture. I had a nice salary, a 401K plan, retirement, medical (cheap, too), a free physical every year, parking, a nice corner office, a cafeteria that sold at a discount to employees, and we even had a gym! Nice job.

If you'd asked about my political leanings I probably would have said I was Independent, maybe Democrat. Until I left and started my own business.

My eyes were opened quickly to the meaning of self reliance, self responsibility and how some of those policies I had supported in the past affected every-day life. Within the first year I sought out the local Republican Party and have never looked back. The more I stood for myself and wasn't coddled the stronger I felt about our country, free market values and the need for people to stand up for what is right.

It's easy to be sucked into lib-land if you work for big companies. It's me-me-me. Give me more pay, give me more benefits, give me a bigger office, give me more supplies, workers, etc., etc. It's hard to articulate the difference between a job where you're not providing for others and one where you are responsible for everything.

I heard a survey earlier today that said something like 80 plus percent of business owners feared a win by Obama.

If you think it's bad now, wait until the Democrats control Congress and the White House. I think we're already on the road to socialism, especially with all that is going on in regards to nationalizing banks, etc. President Bush says it's short term, but does anyone believe it will be short term if Obama takes over? They will blame Bush, then extend things until it's too late for us to turn back. I have a hard time believing that President Bush could be so naive. If Obama wins on November 4th they better back off before January 1 or it'll never change.

No comments: