In Defense Of Small Business

I am sick and tired of hearing the Obama campaign talk about how if you do not make more than $250,ooo you will not see 1 penny of tax increase. This includes small businesses. Joe Biden during the vice-presidential debate said, "95% of small businesses make less than $250,000 per year." Hogwash!!!

Think about that. That means a business that is open 5 days a week, 50 weeks out of the year (let's say they are closed on holidays) can make no more than $1000/day. Can a business survive on that? Ain't no way! If they have any payroll, any overhead, and still pay their normal taxes, they would have to make much more than that to exist.
I own a very small business (I have been in business for 12 years now) with 3 paid employees and I make over that $250,000 benchmark and am still squeaking by. Lets raise my taxes from 34% (which is what they are now) to 62% as proposed by Obama and I am out of business. I would have to double all my prices and fees and still maintain the same amount of clients just to exist at the level I am today. Everyone knows when you raise prices you lose at least some customers who cannot afford it. Doubling prices would lose more than "some". This year alone I have already paid over $70,000 in taxes alone (and I still have 1 more quarter to pay). If that is increased to over $127,000, I am out of business.

And it is not just me, it every small business everywhere. Look at where you shop and eat and think about them if their taxes go up. Are they still going to be there next year at this time? What happens to their employees when they lose their jobs? Sure the huge corporations will survive, but they will have to downsize their workforce as well as increase prices. That's more unemployment with higher cost of living. Combine that with the current economic situation and you do have the makings for another Great Depression or government takeover of all aspects of the economy--socialism at best, communism at worst. Will we all be better off then?

For me, if nothing else, I will vote against Obama to keep my business going and to help keep other small businesses as well as this country alive.