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

December 6, 2012

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

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How Do You Spend a Trillion Dollars a Year and Not Cure Cancer?

November 28, 2012

How do you spend a trillion dollars a year, over 4 trillion dollars in less than 4 years, and not cure cancer?  For that matter, the common cold.  Why are we not a nation disease free?  Where are our priorities?  What were we thinking?

This is getting personal.  I have three sisters.  My youngest sister was diagnosed with breast cancer and she is a breast cancer survivor   Now my oldest sister has been diagnosed with breast cancer.  It’s no longer about Obama simply reaching into my wallet. It’s not so much about the money anymore.   It’s about the waste.  It’s about wasted time, wasted money and wasted resources.  Tic-toc, cancer is rampant and destroying more and more lives.  Government waste is a cancer, too.  Here is a case in point: Millions Spent on Storytelling Science.

Do you want to see real gains in life saving procedures and reduced medical expenses?  News flash!!!  Put your money and energy behind curing  the disease.  One of the most appealing aspects of Obamacare is providing for coverage to people who have  preëxisting conditions.  I’m all for that.  Make the insurance companies toe the line.  My contention is, what if preëxisting conditions didn’t exist? Cure cancer. There would be a lot fewer preëxisting conditions if we attacked the real problem, cancer.

What if Obama had the cojones to take back the $16 Billion he gave to his mega-rich campaign donors, including blowhards like Ted Turner, recipient of around 1 billion in green energy money from Obama, for failed green energy initiatives  and put that money it towards cancer research?  No.  Now that he’s been reelected at all cost, we’re $16 Trillion in debt.  Now it’s everybody’s  problem that our healthcare is going to be too expensive for many small businesses because we are going to be taxed.  If you want to blame Bush or the Republicans, argue your case with John Roberts, Chief Justice, Supreme Court.

All politicians have it wrong when it comes to priorities on health issues, but the Mainstream media and Hollywood have placed the focus on our savior and savant, Barack Obama.  All this President was about was keeping his job by dividing America, the have’s and the have-nots’.  He succeeded.  All President Obama has done is grow a new cancer.  A cancer that is equally daunting and will grow as our economy shrinks under his leadership.  Get to the source of the problem.  Why waste time and money on Obamacare?  Why not cure cancer?  That’s what a real leader would be all about.

Murder by guns vs. cancer, a look at our current death toll in this country (based on trends – not actual numbers).   —> 2012 Mortality statistics for USA

Obama Christened "Lord and Savior" Great Response on Twitter, Some of My Favorite Tweets

November 27, 2012

You can watch the video of Jamie Foxx at the SoulTrain 2012 Awards calling Obama his “Lord and Savior.” Twitter went crazy with the hashtag, #IfObamaWasJesus.  Here are some of my favorite tweets:

I’m No Fan of Obama and I Never Will Be, but… Reboot!

November 20, 2012

I’m no fan of Obama and I never will be,  but by coincidence or by design, I am in Washington D.C. today for a business conference.  I have to say, regardless of the disappointing outcome of this election for Republicans and Conservatives like me, I am proud to be an American.

Like so many others, there is talk of cessation, there’s talk of moving business to foreign shores.  I am not going to be the one to tell you what to do, but I can tell you, a walk around the Mall in D.C. was the best medicine for anyone who wants to think twice about giving up on America.

I walked miles today visiting the Lincoln and Washington Memorial, the World War II Memorial, the Korean War Memorial, the new M.L. King site and other sites, how could I possibly turn my back on all those who believed in, fought for and gave their lives for my country, the United States of America?

Read The Democrats’ Big Problem.  There’s a lot of work to do.  Let’s take the Senate and our Country back in 2014!

Obama Christmas Songs – Twitter feed

November 10, 2012

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

November 10, 2012

In 2012, 6,037 new regulations posted in the last 90 days

Our small business, with under 50 employees, does business with community financial institutions (FIs).  We are subjected to many of the regulations FIs are subjected to including:

Sarbanes–Oxley Act

Gramm–Leach–Bliley Act

Dodd–Frank Wall Street Reform and Consumer Protection Act

Credit CARD Act of 2009

…to name a few.  This equates to many thousands of dollars in added security measures and personnel costs.

We now face another huge challenge, none more onerous than the PPACA (a.k.a. Obamacare) as it ramps up.

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.”

A quote recent article from CNN Money’s Fortune Magazine, Thousands of banks may disappear, “Now that President Obama has been re-elected, analysts, consultants and deal makers have turned from whether Dodd-Frank will be repealed to what it means for banks now that it’s likely here to stay. The overwhelming conclusion: Thousands of small banks will soon disappear.”

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!

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

November 1, 2012

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.

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