Sunday, November 02, 2008

The audacity of disincentive.

When Barack Obama pledges to give a tax cut to those earning less than $250,000 $200,000 $150,000 $120,000 $250,000, it's biggest victim looks to be small business owners. Obama's rationale for such a plan is to ensure that all the employees (especially those employed in a small business) have a "chance for success, too." Someone is going to have to explain to me how assistance from government is defined as "success".

But I digress.

Who better to explain the flaws of Obama's plan than Congresswoman Michele Bachmann, an owner of a small business with her husband. In an interview on The David Strom Show yesterday morning, Bachmann emphasized the incredible sacrifice that goes in to running a small business. First of all, there is no such thing as a "weekend". After the employees get paid first, there are the obligations of regulatory fees, operating expenses and taxes. After all that, the actual owners get whatever is left over. Basically, the owner of the business is the one who assumes all the risks and is paid last.

Under Obama's plan, already overburdened business owners will be forced by government to make additional sacrifices that could ultimately force them to reduce their expenses or, heaven forbid, cease operations. And the most exorbitant expense of any business? Employees. In essence, Obama's plan will ultimately harm those who he aims to have a "chance for success, too."

And if anyone dare object to Obama's plan, they're labeled as "selfish."

Given that small businesses are the lifeblood of the U.S. economy, it would be a travesty if ambitious Americans would cease attempts at starting a business due to their sacrifices being in vain.

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