Jobs Summit

A jobs summit at the White House? Obama wants to assemble ceo’s, small business owners and of course labor and non profit officials to the White House for a job summit. How laughable. The small business owner who provides 70% of the jobs in the u.s are facing the following:

-expiration of Bush’s tax cuts (5%)
-another 5.4% surtax recommended by Pelosi
-Harry Reids recommendation to increase Medicare taxes
-a recommendation to pay social security taxes on every penny earned
-the health care bill
-State and local taxes going up in many areas

Sounds like a good time to add employees to me.

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2 Responses to “Jobs Summit”

  1. Yeah, it’s never good to assemble all those types of people together. Something constructive may come of it.

    By the way, not one of those things you mentioned has actually happened.

  2. urstupidnourstupid Says:

    Yeah, I’m sure the non profits, academics and head of SEIU are really going to have some great ideas. I can’t wait to hear the results from this.

    Oh and don’t worry, if Reid, Pelosi and Obama get their wishes, you can stack up the rest of those taxes on the evil rich people. They will pay their fair share!!!

    So if you built a business from scratch by working your butt off 12 + hours a day you and you are making say 500k a year, hear is what is being proposed or already passed:

    Bush tax cuts: approx: 4.5%
    Pelosi surtax: 5.4%
    Reids increase in Medicare: 1.5%
    SS on every penny: 8+%
    Healthcare if you dont insure your staff: 8.25%
    State and local taxes: what do they pay in CA? 10%
    On top of the 39.5% we have now

    As a small business owner you are looking at these initiatives on the table and then you have to consider taking the risk to expand in this type of environment? Why bother.

    Here’s a few ideas: stop raising taxes. stop forcing heavy regulation on the small business, eliminate corporate tax and capital gains, stop wasteful spending and get out of the way.

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