I see that the President has decided to change the overtime laws to get another 3.5 million salaried employees paid overtime on top of their current salaries. So lets see if I can keep track of the growing list of policies that will BANKRUPT AMERICA!!!!!!!! 1) Obamacare which based on the packet of information from my CPA and insurance provider will cost me approximately $110,000 if I have 50 employees. I will be honest with everyone here, I paid myself $22,000 in 2012, and now our government would like $110,000 of that huge pile of cash to provide health insurance to the people who work for me THAT ALREADY MAKE MORE THAN I DO!!! Thats not how you stimulate the economy, thats how you destroy small business. 2) A $3 per hour minimum wage increase, and although I dont have any minimum wage employees, the employees that I do have will expect to receive that same $3 per hour raise. Total annual expense $187,200 based on my most recent payroll. You do the math, I GO OUT OF BUSINESS. Its very simple; Obamas desire to redistribute the wealth to people is going to choke out an entire section of the economy. There will be NO small business left. It will become impossible to make enough to pay the bills. If you are on the opposite side of this argument, I would love to try and understand how you think this is sustainable. Here is the simple math done for an imaginary restaurant, a business that after 25 years, I know very well. Sales: 1,500,000 a year Payroll and food: 975,000 Other expenses: 412,500 Profit: 112,500 or a total of 7% Now with the new math Sales 1,500,000 a year Payroll and food 1,162,200 (this now includes the $187,200 from above) Other expenses: 522,500 (this now includes $3667 a year for 30 of my 50 employees) Profit: THAT’S A NEGATIVE NUMBER Now what do you think happens to my 38 employees, their families, their car payments, tuition, books, daycare, electric, rent, mortgage etc??? I will tell you, they are all unemployed and so am I. Help me understand how this works for anyone EXCEPT the people trying to get reelected?
Posted on: Thu, 13 Mar 2014 19:31:48 +0000
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