Posted on 12/13/2008 8:50:55 AM PST by SeekAndFind
Depends on whose eyes you're looking thru...The work I do means nothing to me 'cept it's compensated with money...
Good catch! I could have written this article .................. FRegards
This is a terrific post. It spells a lot of things out for us economic ignoramuses.
Thanks.
<<<<My sentiments exactly :)
Perhaps. But in the grander scheme of things, it was the goods or service you produced that has value to society, not the money you were paid. Another way of expressing this is if you had a billion dollars and did nothing with it but count it, the money has no value to society beyond it's appeal to entice someone to produce goods and services that you might exchange some of it for. The people that would do “work” to get your money might not value the work they do much either, but chances are, if you don't value it, you won't give them any of your money. Unless they're the government, in which case they are going to take your money, and give it to those who don't work.
While I can’t speak to Dan(9698)’s specific situation, I can tell you about some of the business incentives available in Oklahoma as I help businesses get qualified for some of the incentives offered. Most states have similar incentive programs to attract to new business as well as to help incumbent businesses to grow by hiring additional employees.
The primary “tax break” in OK is a percentage rebate (up to 5%) of new employee payroll for new/expanding businesses in certain categories (NAICS code specific) if they will add $2.5mil in new payroll within 12 quarters. Obviously, this is for large businesses (they can get rebates for 10 years as long as they continue to qualify) but small business also has a program (7 years) they can qualify for when hiring as few as 5-15 people, providing they qualify by location, wages paid, etc. Further details @ www.okcommerce.gov
Other possibilities that are explored include an Investment/New Jobs tax credit, possible property tax abatement, sales tax exemptions (primarily manufacturers), former Indian lands tax incentives (covers most of OK), etc.
While I agree that businesses of all sizes have a tough row to hoe in the current economic climate, various kinds of assistance and incentives have been available.
Many, many years ago, I was an employee of a business that was established solely for the purpose of losing money in order to gain a government benefit. The management, obviously, couldn't tell the employees what the story was. So we, noticing a dearth of customers, and reasoning that no customers meant no job, went nuts trying to find, keep, and grow the base of customers. Which, of course, drove the management crazy. They kept spending more money and hiring more employees, trying to drive the company into the red. We kept working harder and more productively trying to keep it in the black. After a year of pulling their hair out, they finally came up with a solution... firing everyone competent. Now, I realize that lots of American companies have done the same thing, but this was one of the few occasions when it was intentional.
Thank you Albion.
>>>Lots of businesses, especially small ones, get lots back in terms of tax breaks, credits, low interest loans, etc.
Yeah, I know. Businesses are lowly suppliants who should be more thankful for any reductions in pain offered by the masters above.
I am so sorry. I hope she finds her silver lining...
You should propose these to your legislator. One bright spot in an otherwise dismal election is that we sent a Club for Growth backed freshman to the Pennsylvania House in a district which has been represented by Democrats only ever since its creation in 1969.
You never told me you worked for GM ;-)
Cheers!
Thanks for the ping!
“Most states have similar incentive programs to attract to new business as well as to help incumbent businesses to grow by hiring additional employees.”
That’s well and good, but most of us small businesses are not large enough for any state to try to attract us. Most of us have maybe 3-8 employees, so there’s no incentive for a state to get us to move. Nor are we manufacturers. So the above incentives aren’t relevant to most of us. And the programs you cite later also have nothing to do with the typical small business. Add 2-5 million in payroll? You are kidding. Most small businesses would kill for that figure in total sales, much less payroll!
Walk down the street: the businesses on both sides are the typical “small” businesses that pay all the freight with no incentives or tax breaks involved.
“Would you be willing to hire contractors?”
Sure. In fact, when one employee moved to another state, we replaced him with a forklift and “casual” labor when needed for particular activities. It has been far less expensive and far less troublesome.
You’ll do OK as a self-employed person. This is because the government will be happy to have you off their payroll, and won’t expect to pay your medical expenses since you are self-employed, and “getting rich”.
But, if your business is in high enough demand that you need to hire someone, expect to pay them TWICE what you get paid...when you include SSA co-pay, health insurance, and any number of add-on taxes.
I speak from experience, when I had a software company until 2001. After 9/11, I lost all my business. Everyone got help, except me. because I was self-employed, everyone thought I had a nest egg stored away for rainy days.
If I had a nest egg, the buzzard destroyed it.
bookmark
....resulting in an extended depression.
You may be correct that in signing the 2006 Pension Relief Act, he signed the death certificate for the Republican Party.
for later
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