Costs from regulations pile up, hurt small business profits

WTOP.com/AP ^ | 07/22/2015 | JOYCE M. ROSENBERG

[E. Pluribus Unum]

NEW YORK (AP) — It’s getting more expensive to be an employer and small business owners say that’s making it harder for them to make money.

The health care law, minimum wage increases and paid sick leave laws in some states and cities are increasing costs. Small companies also face the prospect of higher overtime expenses under a proposed federal regulation.

“We’re going beyond the point where we can comfortably operate a functioning business and meet the requirements of these laws,” says Diana Lamon, who owns a Los Angeles restaurant, Poppy & Rose and a food truck, Peaches’ Smokehouse and Southern Kitchen, with her husband Ryan.

The growing costs the Lamons face include:

—The $9 hourly minimum wage in the city will rise to $10.50 next July, the first step toward a $15 minimum in 2020.

[econjack]

The health care law, minimum wage increases and paid sick leave laws in some states and cities are increasing costs.

What?? But the Dems promised that these things wouldn't affect costs or jobs. They promised we can have a free lunch.

[Maceman]

Well, in 2014 the great statesman Bill Clinton did promise us a future world without profits.

Of course, he thought that would be a good thing.

[SMARTY]

There’s that magic word again....’free’.

Adults know that NOTHING worth having is free

[Amagi]

I have a business.
In my years in practice I have seen an avalanche of new regulations from every level of government.
All of which comes at a cost, a fee, a tax, a mandate, and a potential for litigation if I am found not in compliance.
None of which makes my service better, and certainly not cheaper.
It is no surprise to know that more businesses are closing their doors than new businesses opening up in the current business climate.
The Constitution promises us limited government, but control-freak political elites, flunky bureaucrats, apparatchiks (read Marxists all) have rendered the Constitution a "living, breathing" document which means we have no Constitution at all if the underlying traditional principles are not absolutely immutable.

[EBH]

Owners faced with these accumulating financial demands might be saying, “it’s always something.” But dealing with continual challenges is part of running a small company, says Philip Kim, a professor of entrepreneurship at Babson College. “It’s the nature of doing business, and those who can be resourceful and be able to be nimble in the process will have a better chance of succeeding,” he says.

I wonder if this "professor of entrepreneurship" has ever run a small or start-up business?

[Buckeye McFrog]

"I can't be held responsible for every under-capitalized small business out there."

Hillary Clinton, in the midst of the Hillarycare debate, 1993

[G Larry]

Hillary has 2 memorable quotes that illustrate her contempt for businesses unable to fund her Fascist dreams.

1- (When pushing Hillary-care in 1993) “We can’t be responsible for every undercapitalized business out there.”

2- When she criticized Uber as being “economically unsustainable”, she meant the lack of government control threatened her lackey supporters in the Taxi union.

[11th Commandment]

Many economist say that regulatory relief is much more higher priority to fix the economy than tax reform.

[Olog-hai]

Can’t get more communistic than that.