This Just Isn't The Right Time....

You asked me to point out whenever your Marxism acts up.

 

Cuts costs, reduces overhead, increases income opportunities, incremental price increases.

 

Correct! Now drill down another inch. How does the business owner implement any of your suggestions?

You're basically saying..."use cheaper materials/ingredients, reduce staff, make capital investment (oh, wait...they have less capital to invest), and/or increase prices (assuming they have pricing power)".

Who do these increased prices help? ...the employee this guy just laid off? The Devil is in the details.

We haven't even begun discussing the Wealth/Asset tax..."Inflation". If you seriously think all this government printing is "free" and doesn't impact a business's bottom line, well...I guess you simply wish to ignore basic economic science. There's a word for that...what is it?

 

Oh.

 

On the plus side, who does the additional tax revenue help? The answer, the entire community that the business is located in. It is the system we live in. If a small business is teetering on the edge of financial solvency, and let's face it, not every small business owner has the chops to run a small business, perhaps the 80% of small businesses that fail within the first year need to fail.

I think the misconception that you and others live under is that anyone who starts a small business has a guarantee of success. They don't and many small businesses fail because they are poorly conceived and implemented. It isn't government hold them back but their own inability to successfully manage a business interest. I've known quite few of these types in my life and they all failed miserably and of course blamed the government. My uncle built a multimillion dollar business in his garage. He had little sympathy for fellow business owners that didn't have the acumen to make it in their chosen line of work. He told me that he succeeded because he remained focused and didn't become distracted by silly side ventures. He was a good business owner. He succeeded because he knew what he was doing. My nephew on the other hand, is a moron. He constantly brags about all the people that work for him and truthfully, he is full of hot air. He has never turned a profit in all the years he has owned his business and I am sure that he never will and it will undoubtedly be the governments fault.

 

Progressive Democratic lawmakers urge Biden to replace Powell as Fed chair

Reps. Alexandria Ocasio-Cortez (D-N.Y.), Rashida Tlaib (D-Mich.) and Ayanna Pressley (D-Mass.) are urging President Biden to replace Federal Reserve Chair Jerome Powell as his term's end date nears.

The trio of progressive Democrats, along with Reps. Mondaire Jones (D-N.Y.) and Jesús García (D-Ill.), issued a statement on Monday calling on Biden to “re-imagine” a central bank that is “focused on eliminating climate risk and advancing racial and economic justice.”

https://thehill.com/homenews/house/...ers-urge-biden-to-replace-powell-as-fed-chair

 

...and how do failed businesses pay taxes? That's the part I don't understand. If government agencies had to make a profit and pay taxes, they wouldn't survive.

The beauty of Free Market economics is that no one is forced to buy a product. Each buyer makes a value judgement. When they surrender a portion of their capital for a product, there's an expectation of value (for that person) in excess of the money tendered. It's a Win-Win transaction. When government confiscates capital to produce a result, it's always a Win-Loss transaction.

 

Dump the existing tax code, and apply a flat tax to everyone across the board . . . retired, actively working, passively investing, chairing a board, working on Capitol Hill, collecting welfare . . . everyone pays the same percentage.

 

That would certainly be an improvement, but no match for the Fair Tax. The Fair Tax also levels the economic playing field with our Global trading partners and rewards productivity over consumption.

 

On the surface that looks good, but I can't feel good about some schmuck paying no taxes while pulling down and bankrolling $100K annually as he lives for free in Momma's basement.

 

My opinion is, that is a silly exaggeration.

 

...and why do you feel that way? (serious question)

Under the Fair Tax, when money is spent, it's taxed. If money is saved, it's invested to keep up with inflation...providing the capital needed for economic expansion and better economic opportunity for the young and poor. The difference with the Fair Tax is...all the people who work, but don't report income are taxed fairly. That includes illegal immigrants and other law breakers and n'er-do-wells. @JoeNation said it best with his "smart uncle, stupid nephew" story. Money flows towards whomever treats it the best.

 

You might be surprised at the number of times I've heard a parent brag about just such a situation . . .

 

right wingers always say "it's not the right time" right after a mass shooting to talk about gun laws as well

 

I'm willing to consider it further . . . the basement dweller was just the first example that came to mind of someone being able to delay tax liability on substantial income. Can you point me to JN's "smart uncle, stupid nephew" story?

 

Post #25 above...or here...

"I think the misconception that you and others live under is that anyone who starts a small business has a guarantee of success. They don't and many small businesses fail because they are poorly conceived and implemented. It isn't government hold them back but their own inability to successfully manage a business interest. I've known quite few of these types in my life and they all failed miserably and of course blamed the government. My uncle built a multimillion dollar business in his garage. He had little sympathy for fellow business owners that didn't have the acumen to make it in their chosen line of work. He told me that he succeeded because he remained focused and didn't become distracted by silly side ventures. He was a good business owner. He succeeded because he knew what he was doing. My nephew on the other hand, is a moron. He constantly brags about all the people that work for him and truthfully, he is full of hot air. He has never turned a profit in all the years he has owned his business and I am sure that he never will and it will undoubtedly be the governments fault." ... @JoeNation

 

Thanks YP.

@JoeNation . . . Generally, I tend to think that the founders of businesses are more ambitious, and are more inclined to succeed than those who inherit, or buy into established businesses, not fully comprehending all of the groundwork that was necessary to establish a healthy foundation and business culture.

While there are indeed many businesses that are / were poorly run and deserve(d) never to get off the ground, and fewer standout businesses which become leaders in their respective industries, there are also plenty which are not monumentally successful but grow sustainably.

. . . And it is those many middling businesses which could end up being hobbled by unreasonable increases in their tax burden.

 

On this, I think we see eye to eye. I recall reading somewhere that only 1 in 10 businesses survive their first five (5) years. Some people fail 3-4 times and lose everything before getting it right. It's not easy. That's why it's so sad to watch so many small businesses being driven out of business over political nonsense. The Free Market is a self regulating system...only the strong survive. Government involvement only weakens the system.

 

What does that have to do with your statement being a silly exaggeration?

Why would I be surprised that someone opines a silly exaggeration to support a position of ignorance?

You have employed hyperbole to emphasize your position (and your position is not really clear) and justify your position because other people have the same silly exaggeration, and therefore you can't feel good about it?

That is no different than the silliness that Nation and FD employ and would have the reader believe is serious constructive conversation.

 

You almost can’t define it as it has a different definition based upon the industry. As it pertains to my industry, less than 100 employees and less than 30 million in receipts or revenue constitutes a small business. But those figures vary dramatically based upon the industry. I believe in manufacturing a small business can have as many as 1000 employees. I could be wrong but it demonstrates how wildly varying the numbers are per defined industry and why it is near impossible to define.