“If you have a business, you didn’t build that” ~ President Barack H. Obama
This show is dedicated to the small business owners who are what make this great nation of ours the greatest country on earth. Despite what many politicians would have us believe, local and federal governments have often become a hindrance. When we have come out of previous recessions, it has been the small businesses that have created jobs. This time around, we aren’t seeing this. Many left leaning politicians claim what we need is more regulation or more “stimulus” (government borrowing and spending) The government does not create jobs. The majority of jobs are created by small business owners.
Many in the federal government now claim that small business owners aren’t paying their fair share. Wait you say, they are talking about those “rich” people, not me! The facts are that the majority of small business owners fall into the “top wage earner” category. Read the IRS stats below and decide for yourself.
If you own a business and earn over:
-If you earn over $343,927 you are in the top 1% of all wage earners. This group of tax payers pay 36.7% of all federal taxes.
-If you earn over $154,643 you are in the top 5% of all wage earners. 58.7% of all taxes are paid by the top 5%.
-To be in the top 10% you make $112,124 or more. The top 10% of wage earners pay 70.5% of all federal taxes.
-If you make $66,193 you are in the top 25%. This group pays 87.3% of ALL federal taxes!
-If you earn over $32,396 you are in the top 50% of wage earners.
97.7% of all federal taxes are paid by the top 50%.
David talks about the challenges small businesses face in today’s regulatory environment. What are those challenges and what are the solutions to overcome them?
One solution is to make sure that you are being more efficient with the cash flow that you already have. Did you know there is a way to recapture the entire cost of running your business without any additional capital outlay? This one strategy alone can literally transform your entire business.
Tune in, Listen and Learn!