Showing posts with label small business. Show all posts
Showing posts with label small business. Show all posts

AMERICAN FORUM

By John Shepley

As a small business owner, I support legislation to increase Maryland’s inadequate minimum wage because it makes good business sense. It’s an important part of our economic recovery and economic progress. I know businesses can pay a better minimum wage and still make a profit -- it helps the business prosper.

Opponents of this legislation like the Maryland Chamber of Commerce, the Maryland Retailers Association, and the Restaurant Association tell you the time is not right to increase the minimum wage because the economy is weak. What they don’t want you to remember is that for them the time is never right. In 2005, they opposed legislation to raise Maryland’s minimum wage from $5.15 an hour to $6.15. They opposed federal legislation to raise the minimum wage in 1996, in the middle of the longest economic expansion in our nation’s history. Then president of the Maryland Retailers Association, Tom Saquella, cut to the chase when he said about their opposition in 1996, “A lot of it’s philosophical.”

So let me cut to the chase: If my business, a small nursery in rural Harford County, can profit and grow when paying a wage that people can thrive on, then there’s no reason any viable business cannot do that too. Unless, that is, their philosophy is getting in the way of good business sense.


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Monday, October 18, 2010

Let My Tax Cuts Go

WASHINGTON FORUM

By Bryan Kirschner

When Congress debates whether to extend the Bush-era tax cuts for the wealthy or let them expire at the end of the year, I hope our elected officials have the courage to let my tax cuts expire. Sure, I would pay less in taxes if Congress extended my tax cuts, but as a citizen and business executive, I think that would be shortsighted and irresponsible.

My family was not affluent. Growing up, I never worried about middle-class basics like a new pair of shoes every year for school or whether we'd have a roof over our heads next month. But luxuries I take for granted today — like taking vacations in Europe— were outlandish things people like us didn't do.

But my parents, neither of whom went to college, did make one thing clear from as early as I can remember. They were committed to giving their kids the chance to pursue as much education as they wanted at the best possible schools to which they aspired.


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AMERICAN FORUM

By Rick Poore

A good friend and fellow businessman once told me, “Give me more customers and I’ll be forced to buy equipment and hire people to meet demand. Give me a tax break without more customers and I’ll just go to Aruba.”

Ending the Bush tax cuts for the wealthiest taxpayers is the right thing to do for small businesses. I’ll say that again: it’s the right move for small business. Let me explain.
I consider myself an example of an average small business owner in Nebraska. I have 30 employees. My business does $2 million plus in annual sales. My personal income as the owner is less than $85,000 a year.

It’s a comfortable living, but ending the Bush-era cuts on the top two brackets won’t come close to impacting me. And it won’t impact the other small business owners I know, either. The top brackets won’t kick in until your taxable income is over $200,000/year for individuals and $250,000/year for couples, and they’ll only apply to the portion of your income above those amounts, not below them. Less than 3 percent of taxpayers reporting any business income (not limited to small business income) earn enough to break into the top two brackets.


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LOUISIANA FORUM

By Camille Moran

Wall Street’s collapsing house of cards brought us a time of economic turmoil that most of us have not seen in our lifetimes. Patching the house of cards back together, though, will not bring us lasting recovery.

When will Washington realize that Main Street needs true financial reform and not just piecemeal crumbs dubbed as reform by Big Business and Wall Street? When will Washington realize it is small business that drives our nation’s economy – that without that entrepreneurial spirit, the wheels of our country’s economic system would no longer turn?

Had there been adequate rules in the past, there is a good chance the Great Recession would not have occurred, or at the least, have been less severe. This would have meant less pain for small business owners, with far fewer business failures, home foreclosures and job losses.


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AMERICAN FORUM

By Lew Prince


I’ve owned a small business in St. Louis for 31 years. Like most of my customers and my 26 employees, I watched as greedy hedge funds, irresponsible investment banks and unscrupulous mortgage companies decimated our savings, investments and pension funds, and nearly drove our country into another Great Depression. Now those same hedge funds, investment banks and mortgage companies are spending more than $1.4 million dollars a day (that’s right -- a day) to scuttle financial reform legislation in the U.S. Senate.

What’s the financial industry so afraid of?

Well, there’s the Consumer Financial Protection Agency (CFPA), which passed the U.S. House of Representatives but is under siege in the Senate. The CFPA would make sure banks, mortgage companies, payday lenders and car dealers lay out loan terms in plain language so individuals, families and businesses will know what they’re getting into when they borrow money. It would set clear ground rules for loans, protecting Americans from the kinds of sleazy deals that cost so many people their homes and livelihoods in the wake of the recent Wall Street collapse. And it would actually reduce government bureaucracy by streamlining and combining all federal consumer loan regulations under one roof.


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SOUTH CAROLINA FORUM


By Frank Knapp Jr.

Small businesses are paying the price for an economic crisis they didn't create. To find solutions to this crisis, our government needs to listen to small-business owners, not the financial behemoths that caused the meltdown and then passed the buck.

When Tom Ledbetter became facilitator of training programs for entrepreneurs and small-business owners in Columbia, S.C., graduates typically would be able to take action to achieve their goals. Not anymore. Now, classes are smaller and graduates routinely are frozen out of financing necessary for them to pursue their dreams.

More and more small businesses are being rejected for loans. It doesn’t matter what the business is; whether it be a glass company in Charleston with 80 employees, an auto parts company with orders in hand from Honda, a Greenville cabinet-making business with large orders pending, a multi-generation Columbia business looking to diversify by putting up $2 million and prime property, or a Hilton Head construction supply company that had never missed a loan payment—all have been rejected by lenders.