Tilted Forum Project Discussion Community - View Single Post - What disagreements do you have with Obama?

aceventura3 · 11-03-2008, 08:31 AM

My advice to an aspiring entrepreneur under an Obama Presidency with a Democrat controlled Congress is to not start a small business unless you have a sure thing or you are using to someone else's money with deep pockets. Keep your corporate job, government job, or invest in real estate.

As a small business owner you will work harder than you ever worked, risk your life savings, pay what you owe first while getting paid what is owed to you last. You will support your employees, including mandated health care insurance, raising minimum wages to people with no skills, workers compensation insurance, unemployment insurance, your part of FICA, and other benefits and for that you will be at a continual risk of being sued even if you meticulously follow the law. Your taxes will be so complicated you won't be able to do them or have the time, so you will pay high fees to get them done. Depending on your industry government regulations will be so onerous and so complicated you will never be 100% in compliance, so you will always be at risk for fines and penalties. You will continually re-invest profits into your business to try to stay competitive and/or grow, but big business will always have an advantage and will be able to lobby in ways that will make it harder and harder for you to succeed.

You will have no guarantee, like a minimum wage. You will pay for your healthcare insurance, your retirement, your FICA taxes and other taxes. Then if you get lucky and finally have a few good years of income, government will take about half of what you make in those years. If you sell the business government will take a large portion of any profits on the sale.

So, the disagreement I have with Obama is based on the economic impact of his philosophy on small business. He believes that when a small business finally makes it, that they did not do enough - and the wealth needs to be spread around. My advise to aspiring entrepreneurs is simply don't do it unless you have a sure thing. Innovating, creating jobs, adding value to the economy is not going to be worth the risk.

11-03-2008, 08:31 AM	#28 (permalink)
aceventura3 Junkie Location: Ventura County	My advice to an aspiring entrepreneur under an Obama Presidency with a Democrat controlled Congress is to not start a small business unless you have a sure thing or you are using to someone else's money with deep pockets. Keep your corporate job, government job, or invest in real estate. As a small business owner you will work harder than you ever worked, risk your life savings, pay what you owe first while getting paid what is owed to you last. You will support your employees, including mandated health care insurance, raising minimum wages to people with no skills, workers compensation insurance, unemployment insurance, your part of FICA, and other benefits and for that you will be at a continual risk of being sued even if you meticulously follow the law. Your taxes will be so complicated you won't be able to do them or have the time, so you will pay high fees to get them done. Depending on your industry government regulations will be so onerous and so complicated you will never be 100% in compliance, so you will always be at risk for fines and penalties. You will continually re-invest profits into your business to try to stay competitive and/or grow, but big business will always have an advantage and will be able to lobby in ways that will make it harder and harder for you to succeed. You will have no guarantee, like a minimum wage. You will pay for your healthcare insurance, your retirement, your FICA taxes and other taxes. Then if you get lucky and finally have a few good years of income, government will take about half of what you make in those years. If you sell the business government will take a large portion of any profits on the sale. So, the disagreement I have with Obama is based on the economic impact of his philosophy on small business. He believes that when a small business finally makes it, that they did not do enough - and the wealth needs to be spread around. My advise to aspiring entrepreneurs is simply don't do it unless you have a sure thing. Innovating, creating jobs, adding value to the economy is not going to be worth the risk. __________________ "Democracy is two wolves and a sheep voting on lunch." "It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion." "If you live among wolves you have to act like one." "A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers." Last edited by aceventura3; 11-03-2008 at 08:34 AM..