Geithner has it backwards.
Government and taxes must ‘Shrink’ so ‘Small Business’ can rise.
Our family has owned a business for almost 40 years. I started paying the bills for the business about 7 years ago and I was alarmed to learn the cost to run a business.
Our small business pays.......
FEDERAL INCOME TAX
STATE INCOME TAX
FEDERAL UNEMPLOYMENT TAX
STATE UNEMPLOYMENT TAX
7% SOCIAL SECURITY TAX FOR EMPLOYEES
(this is in addition to the 7% the employee gives the government)
PROPERTY TAX
PERSONAL PROPERTY TAX
UTILITY TAXES ON GAS, ELECTRIC, AND PHONE
GASOLINE TAX
SALES TAX TO THE STATE FOR EVERYTHING WE SELL
APROXIMATELY 7% SALES TAX ON EVERYTHING WE BUY
PLUS WE PAY.......
MEDICAL INSURANCE
AUTO INSURANCE
PROPERTY INSURANCE
LIABILITY INSURANCE
WORKMAN’S COMP
VARIOUS LICENSES AND PERMITS
I’m sure I’ve forgotten a few things.
THE GOVERNMENT GETS MORE OF OUR MONEY THAN WE DO!
It’s easy to see why some businesses hire undocumented workers to avoid the tax burden. Or worse yet they just pull up stakes and move out of the country.
And now obamacare will tax us more? Our government’s over taxation and interference has caused small businesses to be reluctant to hire more employees.
Under the Obama regime we’ll see businesses leaving the country droves. It is no wonder that our country’s economy is on a downward spiral.
Plus 15.2% social security on your selves as you are self employed.