Now over 20,000 Reasons to Repeal Obamacare

Reality GapMore broken promises from the Obama Administration.  Surprised?!

Now over 20,000  17,000 pages of regulations, forget the 2,000 plus pages that comprise the law that’s equivalent to the Lord of the Rings Trilogy!  Like fiction HHS just makes stuff up as they go along.

17,000 pages of regulations, Sebelius and the Dept. of Health and Human Services (HHS), making up the rules and regs. as they go along, the tsunami has only just begun…

Here’s a sample, a lawyers dream. ““The final rule does not address all of the insurance exchange provisions of the Patient Protection and Affordable Care Act and additional rules will address those, according to the rule.”

Be afraid!  Wake UP! people!!!

A House Committee on Small Business Republicans quote, “Sec. Sebelius claimed this morning that the health care law (Obamacare) has been “good news” and President Obama claimed that his health care law would decrease premiums by $2,500 in his first term. However, this tells a different story for small business.”

Excerpt from SHOP the Small Business Exchange Option

“Consistent with the scope of the Exchange establishment and eligibility proposed rules, this final rule does not address all of the Exchange provisions in the Affordable Care Act; rather, more details will be provided in forthcoming guidance and future rule making, where appropriate.”

From the 644 page document, Final Rule State Healthcare Exchanges, and how the final rules address small business, capitalism and the entrepreneurial spirit may die.

Keep in mind this is one paragraph of a 664 page document to mandate a final rule on SHOP!

Be afraid!  Be very afraid!!!

 

Romney Was Right! Small Business Owners Are Getting Screwed!

Help WantedI have been shouting from the roof tops about small business owners getting screwed by the Obama Administration’s “drum beating” campaign of class warfare to tax the rich.  Small businesses without a capital infusion from Venture Capitalists (VC) or angel investors, take many years to grow and become profitable.

Our investment capital comes from our own savings accounts, 2nd mortgages and personal loans.  We work immeasurable hours and spend our own money to build our businesses, while our famous “You Didn’t Build That” president, Obama, is trying to take all that away.

Small business owners are not “rich.”  They are getting screwed by Big Government and Big Business because they pay their taxes as individuals if they file as a Sub Chapter S or LLC corporations that pass all income down to the individual small business owner.

Now, as part of the fiscal cliff deal, higher taxes have become a reality for many small business owners.  Obama has done a great job of pitting the poor against the rich at the expense of the middle class, of which, include most small business owners.

The election’s over. Romney was right! Small Business Owners Are STILL Getting Screwed by Obama and his cronies!

Romney in the first 2012 presidential debate was absolutely right when he said,  “The gap between the rich and the poor has gotten larger. The rich will probably do fine if he (Obama) is reelected,” Romney said. “It is the middle class that is in real trouble. And the poor. I want the poor to get into the middle class. So many have fallen into poverty by virtue of his (Obama’s) policies. So this for me is all about the 100 percent.”

The Business Roundtable comprised of 150 of its corporate titans, in return for various forms of “pork”  threw small business under the bus.  As reported by the Wall Street Journal, Big Business Sells Out Small Business“One million small American business owners who pay individual income taxes shoulder a big rate hike (up to 39.6%, from 35%) while radically lightening the tax load for the Roundtable’s own corporate behemoths (to 28% from 35%).”

Additionally, when a separate bill is passed to lower corporate tax rates, by which any corporate tax reform will hinge upon on closing “loopholes” to pay for a lower corporate rate. Small business owners would lose tax perks along with everyone else—meaning they would pay even more—but they would not benefit from lower corporate rates.

As reported by the Blaze, Who’s Really Selling Out Small Business, “The $625 billion tax increase passed. Big business didn’t get their corporate tax cut…yet. But boy did they get goodies $40 billion in crony capitalism payoffs. The new tax bill gives away $78 million in tax breaks to benefit NASCAR; $62 million in tax credits for companies operating in American Samoa; $222 million of tax rebates to rum companies; $430 million in tax rebates for Hollywood film producers; $12 billion (with a “b”) in tax credits for wind power phonies like GE; $2.2 billion to renewable diesel companies; and $222 million in accelerated tax depreciation for businesses located on Indian reservations. Many of these companies will pay no taxes at all because of these rebates and credits.”

Much of the money small businesses earn, gets taxed as individual income, and would be reinvested in their businesses.  The naysayers would say, the money that is reinvested in the business is tax deductible because it can be expensed and therefore is not taxable.  The problem with that theory is a little thing called cash flow.  Cash flow is the Holy Grail of small business, money held in reserve, money not yet spent, which is essential for a small business, money that fuels business growth.  That money is is taxed as individual income for a small business owner.

Finally, there will be so called experts, that will say change your filing to a “C” Corp.  Without getting into all the details, every small business looks at the pluses and minuses of S Corp. vs. C Corp, vs. LLC etc… and a properly run small business will know best how to file their taxes.  Only they would know, based on their situation, what’s best when it comes to filing their taxes.  If you think you know better, start your own damned business and see how that goes.  I’ll still be shouting from the rooftops, that small business owners are getting screwed!

Here’s a small business owner’s take on how small businesses are being sold down the river by this administration and he voted for Obama.  Gia Pronto owner Marco Lentini on how government policies’ are impacting small business growth.  Is Government Getting in the Way of Small Business?

2012 – You’re Dead To Me… Part Three – You Didn’t Build That!

The Real One Percenters - Small Business People

The Real One Percenters – Small Business People

Pants on Fire! Where’s Politifact When You Need Them?

The Tampa Bay Times Thursday July 26th, 2012 issue, posted this front page headlines…

“Tampa businesses criticize Obama at Romney event, but live off government work.”

EntrepreNever

If it takes you 25 years of sweat equity running a ‪small business to make it into the 1% don’t you think there should be a waiver from the Obama administration on his tax on everyone who makes $250,000 or more?

Entreprenever Barack_Obama

The Endangered Species, Entrepreneurs, a.k.a. Small Business Owners

President Obama is disingenuous when he says he is championing small business and the middle class.  Most small business owners are Sole Proprietors, Limited Liability Corps (LLCs) or Sub S Corps.  I own a Sub S Corp.  President Obama knows the challenges I face.  He is counting on you, the voter, to lump small business owners like me into his campaign to denigrate the high income earners in this country.Hug

The Regulatory Tidal Wave – Vote Early and Vote Smart

The current path for our country includes tax increases and a tidal wave of more than 4,100 new federal regulations with a calculated cost of a half-billion dollars. This is a reality looming in Washington that has not been pushed to the forefront of discussion as “pending” under the current administration. It is impractical to think that businesses large or small can continue to hire employees without some semblance of predictability on taxes and regulations.Capture

Small Businesses – Over Regulated? Thousands of Community Banks a.k.a Small Businesses May Disappear!

Many community banks and credit unions are small businesses too and are subject to the same laws and regulations facing big banks.  The Feds have closed down 10 of our FI customers, costing them their jobs and costing us hundreds of thousands of dollars in lost revenues.  Speaking to many of our contacts at these FIs, most closing could have been avoided.

According to several of these sources, the Feds come in at the end of business day, Friday and take over the bank.  One source, described it similar to be treated as a criminal as she was forced to stand outside her cubicle while they accessed her PC.  She was kept there until after midnight.

Recently, an expert on financial services stated “there will be no de novo (startups) financial institutions due to the steep financial requirement and regulations.”

regulations.gov

As the number of community banks and credit unions shrink we are forced to seek new markets.  An added burden to  already burdensome economic conditions.  While the Obama administration panders  to big business, big union and advocates big government, small businesses continue to bear the brunt of over regulation.

This is the official government “fair warning” website regulations.gov.  Be afraid!  Be very afraid!

 

Obamacare – In “Exchange” for Your Freedom

obamacare exchangesObamacare is government run healthcare in “Exchange” for your freedom.

There’s likely a Big Government run Healthcare Exchange coming to a neighborhood near you.  Well…maybe not.  View the video State of Uncertainty (fast forward to about 55 seconds).  What a cluster and huge waste of taxpayers dollars!

From what I have read in the 644 page document, Final Rule State Healthcare Exchanges called SHOP, from the Department of Health and Human Services (HHS), the final rules that address small business are still up in the air.  Here’s why…

It takes a pack of lawyers to make comments like this…

“Consistent with the scope of the Exchange establishment and eligibility proposed rules, this final rule does not address all of the Exchange provisions in the Affordable Care Act; rather, more details will be provided in forthcoming guidance and future rule making, where appropriate.”

“The final rule does not address all of the insurance exchange provisions of the Patient Protection and Affordable Care Act and additional rules will address those, according to the rule.”  

Huh!!?? My interpretation of the final rule, “We’re all going to get screwed!”

Obamacare is a lawyer’s dream!  In a country  as litigious as the USA and a law this broad, full of waivers, waivers that award Obama fund raisers), exceptions and rules yet undefined; instituting this law is insanely apropos?!  Forever  and beyond, the justice system will be buried with lawsuits!  Small businesses will suffer, who can’t afford lawyers and who can’t afford the paperwork explosion.

In the meantime, Big Brother is just getting started!  Wait until you have to drag your ass into a government run gym!

the-biggest-loser-parody-by-gymjicom

“SHOP may want to fulfill additional functions outside the scope of the proposed rule in order to offer employers a streamlined experience when managing their employee benefits. These commenters’ proposed that the SHOP sell other types of insurance, administer COBRA on behalf of participating employers, administer flexible spending accounts, assist small employers in setting up Section 125 plans, and oversee wellness programs.”  “We will take these comments into account as we consider future guidance on the offering of other products on the Exchange.”

Let’s get a sense of how many people that might affect. Today, over 90 million Americans, or 75% of all working Americans, are employed by firms that have 50 or more employees.

Not to mention the cost to small businesses.  With the average annual cost of employer-provided health insurance premiums for Single coverage set at $5,615, employers will only avoid Obamacare’s employer penalty head tax of $3,000 for their employees who earn more than $59,105 per year.

As an owner of a small business with thirty-five (35) full-time employees (FTEs) and counting, to fifty (50) do I want to grow my business?!  I think…NOT!

Save Small Business from the Fiscal Cliff – Letter to US Legislators from the NFIB

capitolAs a small-business owner, I urge you to act now to prevent the tax increases that will impact small businesses if action isn’t taken to avoid going over the Fiscal Cliff.

Several tax rates that affect small business are set to expire at the end of this year. Some of the changes that will impact small business include:

● Individual income tax rates would rise; the 15 percent bracket would become the lowest tax rate. The 25, 28, 33 and 35 percent brackets would rise to 28, 31, 36 and 39.6 percent

● The estate tax rate would increase from 35 percent to 55 percent, and the exemption would decrease to $1 million from $5 million

● The capital gains rate would increase to 20 percent from 15 percent for top earners and rise to 10 percent from zero for those with lower incomes

● Dividends would be taxed as ordinary income rather than capital gains

● The Section 179 expensing limit will fall back to $25,000 and real property will no longer be included

● The start-up deduction for businesses will be reduced from $10,000 to $5,000

● An estimated 31 million additional taxpayers would be required to pay the AMT

This adds up to an almost $500 billion tax increase for 2013 alone. This is a major concern for small business owners like me, since I do not know what my tax liability will be next year. The uncertainty this creates is already having an impact on my ability to make plans to grow my business or add jobs.

Most small businesses are organized as pass-through entities, where the business owner reports their business’s income on their individual tax returns. Allowing the current tax rates to expire will increase the taxes that small businesses pay, directly impacting the ability of small-business owners to invest money back into their businesses.

Raising taxes on small businesses, especially in the current economic environment, hurts our ability to grow and create jobs. I encourage you to give small-business owners the certainty we desperately need by extending all the current tax rates across the board and fighting to avoid the Fiscal Cliff.

Message delivered to:
Senator Bill Nelson
U.S. Senate
716 Hart Senate Office Building
Washington DC 205100001
Fax: (202) 228-2183 via fax

Message delivered to:
Senator Marco Rubio
U.S. Senate
317 Hart Senate Office Building
Washington DC 205100001
Fax: (202) 228-0285 via fax

Message delivered to:
Representative Gus Michael Bilirakis
U.S. House of Representatives
407 Cannon House Office Building
Washington DC 205150001
Fax: (202) 225-4085 via fax

All Obama Can Do Is Ask Us to Look in the Rear View Mirror

Cadillac One -We Can’t Afford! to Go Forward!

Obama has been in the driver seat for four years with a majority in Congress for two years prior to his election and two years after his election, four more years than many presidents and the Democrats held the majority in the Senate for six years.  And yet his campaign is all about telling us to look in the rear view mirror, a.k.a. “it’s Bush’s fault.”  Since January 2007 and for four years, the Democrats were driving the bus.  We get Obamacare and 6 trillion in debt.

If you like this president and you believe in this president, just read Chapter Five of the book, Throw Them All Out.  If you still vote for this president, that’s on you.

Obama’s campaign slogan is “Forward.”  Frankly we can’t “afford to go forward, four more years with this president.  Obamacare alone will sink many small businesses and put us deeper and deeper into debt.  We have already spent more resources, more time, more energy, millions upon millions of dollars in personnel, administration and legal fees to shape this law.  If Sarah Palin had one amazing quality it was to tell it like it is, and Obamacare as it pertains to a solution to our healthcare’s rising costs, is like “putting lipstick on a pig.”

Highly regulated, healthcare is not free market capitalism and competition has been stifled.  Big insurance companies thrive on a highly regulated government subsidized system.  They want it.  They own the politicians.  The lawyers on both sides can pretend to fight for their constituent’s, then club it after work.

Obamacare is a politicians dream and a lawyer’s wet dream.

Now Obama’s campaign is about raising taxes on the high income earners.  That’s all well and good.  What he doesn’t understand is small business owners pay their taxes as ordinary income.  This is a legal structure setup to help small businesses to compete with large corporations.  Small businesses don’t need to pay more taxes.  The higher our personal tax rate becomes, the less we can invest in our small business. Raising taxes on ordinary income is raising taxes on small businesses. Lower the corporate tax rates for all businesses and more small businesses will follow.

High income earners are willing to pay more if big government spends less.  If big government didn’t pick favorites and simply lowered taxes on all businesses, we would have a chance to prosper.  Reign in regulation, stop subsidizing green energy companies and stop playing to the unions, a.k.a. Government Motors (GM), GE and Chrysler.  Stop subsidizing the oil business, but to be fair, stop subsidizing all big businesses.  Leave it to the states, counties and local governments to compete for and attract business.  Businesses will do better to choose a location and flourish where it is best for them, their employees and the community.

Bottom line, less big government, to the tune of $16 trillion in less than four years, less big union, like the takeover of GM, less big business influence, like the stimulus dollars paid to failed green energy companies, including Ted Turner and GE and less unemployment and welfare to us, as individuals, will follow.

Like Alan Kay says. “The best way to predict the future, is to invent it.”  Big government, get out of the way, let us reinvent ourselves.  We have the uncanny ability to prosper through free market competition.  That’s what’s best for our future.

Footnote:  Many conservatives may wonder why Governor Christie is pandering for Obama five days from the election.  Many say it is because he wants what’s best for the State of New Jersey.  I cry “Bullshit!” Obama came out and said he was going to do what’s best for all victims of this hurricane and I believe him, not because he cares, but for political expediency and his failed policies that left 4 American’s dead in Benghazi.  Christie is embracing Obama after this storm because he knows the door is wide open for him as the presidential candidate in 2016, if Romney is defeated and Obama is re-elected for another term.  Christie better hope the door is wide open, because what he had better understand. That at 69 years old, Romney will still be in better shape than Christie to win the next election.

The Regulatory Tidal Wave – Vote Early and Vote Smart

Many issues have been discussed during the Presidential debates including entitlements, healthcare, federal debt, education, housing etc., but no single issue should be more important to the electorate than job creation and economic growth being THE very staple of how we as a general public of a free nation thrive. During the last days of this election cycle the President of the United States of America should win because they succeeded in persuading the voting public that they are THE best job creating candidate.

A Gallup poll conducted in July 2012; named “Americans want next President to prioritize jobs, corruption” states nine out of ten Americans believe job creation should be the top priority for our next President. During these past few years we have all experienced a tremendous amount of economic struggle, whether one had to budget at home or at work, suffering job loss or minimal gain. Reality has to set-in with the voting community in order to ensure the economic pendulum stays on a track to recovery during this economic situation.

The current path for our country includes tax increases and a tidal wave of more than 4,100 new federal regulations with a calculated cost of a half-billion dollars. This is a reality looming in Washington that has not been pushed to the forefront of discussion as “pending” under the current administration. It is impractical to think that businesses large or small can continue to hire employees without some semblance of predictability on taxes and regulations.

The National Federation of Independent Business and the National Association of Manufacturers underscores the uncertainty of how small businesses and manufacturers are feeling about the economy. The study reflects 67 percent have too much uncertainty in the market today to expand, grow or hire new workers. Additionally, 69 percent of small business owners say President Obama’s Executive Branch and regulatory policies have hurt American small businesses.

More than 85 percent of Florida job creation is through small business. Willing job creators need to see regulatory reform. One of the easiest and least expensive, fastest ways to create jobs is through commonsense regulatory reform that provide needed health and environmental protections and remove barriers to growth so that entrepreneurs can invest, hire and expand. We need to give job creators certainty on federal regulatory policies. Since 2006, there has been a 60 percent increase in regulations with an overall nation cost of more than $100 million. In fact, a 2010 study completed by the U.S. Small Business Administration showed compliance with federal environmental regulations costs small businesses 364 percent more than large firms.

Small business owners, as survival of the fittest, can attest tremendous focus on ensuring the health and safety of their workplace and products – otherwise failure is the ultimate demise. The current administration is missing the fact that a health regulatory thrives on job creation. The significant increase and burdensome nature of regulations makes things more expensive, time consuming and often duplicative of the procedures small businesses already employ.

As a passionate small business owner, take aside my choice of active involvement in the community, I push for a high level contribution from elected officials. Through the next few days I must express shame on the voters who choose to ignore the right to vote during this election season as well as those who choose to ignore hard working Americans making an attempt to enhance our economy and way of life. As we come down to the last days of choosing the Leader of this great nation I would ask for Floridians to vote early and vote smart.

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