Small business optimism surges the most since the 80's

[WVPATX]

Small businesses are the engines of job growth in the U.S. An optimistic business operator is more willing to take risks to grow the company and jobs. That is what lower taxes, lower regulations, easier capital formation will do.


https://www.bloomberg.com/news/arti...ness-optimism-index-surges-by-most-since-1980

 

[JMichael]

I am a small business man. Lower taxes put more money in my pocket they don't generate jobs, what regulations are you talking about. Using the word regulations without specifics is of zero value.

 

[WVPATX]

I am a small business man. Lower taxes put more money in my pocket they don't generate jobs, what regulations are you talking about. Using the word regulations without specifics is of zero value.

I too am a small business man and lower taxes will enable us to reinvest in our company to grow it. Maybe you don't have growth opportunities in your business. Even more money in your pocket either means you invest it (to aid capital formation) or you spend it, both of which is stimulative. I think the individual knows best and is more efficient about their own money than giving it to the government run by bureaucrats. Perhaps, your extra money will go to charity. After all, why did Gates and Buffet set up their charitable trust that they run? They could have given their massive wealth to the government for it to redistribute. They must have felt they were better suited to decide how to use that money.

Lower regulations such as in energy to grow that giant segment. Lower regulations to improve small bank lending. Redesigning Dodd Frank to get rid of onerous regulations that stifle banks ability to grow and lend. Lower regulations to remove paperwork headaches and lower business costs. Opening up huge segments of federal land to energy exploration a giant stimulus. Getting rid of Obamacare will greatly benefit patients and jobs.

The biggest regulatory changes will be in banking, energy and healthcare.

 

[JMichael]

You're not being specific. What tax break and dollar amount are you going to reinvest in how are you going to do it. You don't mention any specific regulations tell me what specific regulations needs to be done away with more for you to increase employment. Getting rid of the affordable care act will destroy patient care as physicians will not be able to get reimbursed fully for their services as we will go back to welfare program and or new treatment which cost more money in the long run.

 

[WVPATX]

You're not being specific. What tax break and dollar amount are you going to reinvest in how are you going to do it. You don't mention any specific regulations tell me what specific regulations needs to be done away with more for you to increase employment. Getting rid of the affordable care act will destroy patient care as physicians will not be able to get reimbursed fully for their services as we will go back to welfare program and or new treatment which cost more money in the long run.

I own a manufacturing company in energy. We pay a 35% marginal tax rate on our earnings. If that goes to 15%, my brother and I have already decided to reinvest those saving in growing our company since the future of energy under Trump is very bright. So lower taxes will help us create jobs.

Trump plans to fast track gas pipelines. He plans to stop fighting for the EPA in court. The EPA has destroyed energy jobs. He will stop the fracking regulations about to be imposed by the EPA. This will create more drilling and more of a need for manufactured parts and equipment.

And you have very little knowledge of Obamacare. So many doctors today don't accept Obamacare patients. Many people have lost their doctors. Many counties in this country only have one insurer. Premiums and deductibles are skyrocketing. Obamacare will be replaced with a more market based solution with much more competition which will lower costs and improve service as competition always does.

Why are you going to keep your tax windfall? Is your business not strong enough to grow? Do you have no prospects for new business opportunities where you can deploy that money? Do you plan to save, invest or spend your tax windfall? All are very, very stimulative to our economy.

 

[JMichael]

Lets go with 15% for a second. How much is that in $ per year. What will you do?

The regulations are still too general. what specific regulation do you want repealed. For example if you install roofs you may want the fall protection requirement repealed to save the cost of fall protection equipment and slow down in work time but do we want workers to fall off of buildings?

Why wouldn't a Dr. take insurance? How would they even know that the ACA required the insurance?

My business is based on the amount of work. If you increase the work then you need more employees generally. If the work stays the same and taxes are cut then that is just more money for the owner. The question is what additional tax then covers the "tax" break?

 

[WVPATX]

Lets go with 15% for a second. How much is that in $ per year. What will you do?

The regulations are still too general. what specific regulation do you want repealed. For example if you install roofs you may want the fall protection requirement repealed to save the cost of fall protection equipment and slow down in work time but do we want workers to fall off of buildings?

Why wouldn't a Dr. take insurance? How would they even know that the ACA required the insurance?

My business is based on the amount of work. If you increase the work then you need more employees generally. If the work stays the same and taxes are cut then that is just more money for the owner. The question is what additional tax then covers the "tax" break?

 

[WVPATX]

Wow. I don't think you know very much about the healthcare system and how reimbursements work. There are many doctors I know that will not take Obama care patients. You may actually want to do some reading on this topic to inform yourself.

Secondly, the amount of money we save on taxes is none of your business. But if our marginal tax rate is at 39.6% then you should be easily able to look up the tax tables to determine at a minimum what our income is.

Thirdly, I'm not sure how good of a businessman you are, but there are significant things you can do to grow your business, advertising, for example. Adding new salesmen in new territories is another example. beefing up your social media presence. All intended to increase business, create demand and as a result create more employment.

And I said, if your business is not good enough to grow, then the savings from your taxes can either be invested or spent. Both are still stimulative.

Under any scenario, these tax cuts are stimulative for our economy. if you can find an economist anywhere that says tax cuts are not stimulative, I would love to read about them. Because they are either incompetent or they simply don't exist.

 

[Mntneer]

Lets go with 15% for a second. How much is that in $ per year. What will you do?

The regulations are still too general. what specific regulation do you want repealed. For example if you install roofs you may want the fall protection requirement repealed to save the cost of fall protection equipment and slow down in work time but do we want workers to fall off of buildings?

Why wouldn't a Dr. take insurance? How would they even know that the ACA required the insurance?

My business is based on the amount of work. If you increase the work then you need more employees generally. If the work stays the same and taxes are cut then that is just more money for the owner. The question is what additional tax then covers the "tax" break?

Well in our business... in good years, it doesn't just become "more money for the owner", it becomes "What piece of equipment are we in need of, what tools do we need...."

Putting money in the hands of people that spend it is never a bad idea.

 

[JMichael]

Even if it goes in someone's pocket it will be spent. The question becomes how it is spent. I wish that taxes were zero and teachers, firemen, police, etc could be paid from a magic fund but it does not work that way. What kind of equipment would you buy that that you do not have now and how would that create more jobs or higher wages for your employees. Interesting to know these things as opposed to being general.

 

[DvlDog4WVU]

Even if it goes in someone's pocket it will be spent. The question becomes how it is spent. I wish that taxes were zero and teachers, firemen, police, etc could be paid from a magic fund but it does not work that way. What kind of equipment would you buy that that you do not have now and how would that create more jobs or higher wages for your employees. Interesting to know these things as opposed to being general.

Sounds like he's in construction.

Let's say he buys a new dozer that he didn't have. That enables him to bid on additional work he might not otherwise be able to do. Or buys the new tool which gains efficiency in the current work he is doing so that he can then take on more work.

Most small business owners are constantly looking for ways to grow and make more money which requires more employees. As a business owner, you typically take a percentage of what you take in. Call it 10%. If you get more business, your salary goes up proportionally. I don't know a lot of people that just take whatever excess money they make and don't put it in the business somehow. Well, if they don't, they aren't around for very long.

 

[wvu2007]

I am a small business man. Lower taxes put more money in my pocket they don't generate jobs, what regulations are you talking about. Using the word regulations without specifics is of zero value.

You are greedy.

 

[atlkvb]

I've never understood how those who argue for an improved economy don't think it's possible unless we're giving more of our hard earned money over to the Government instead of keeping it and spending it for ourselves?

Why is there such Faith in worthless bureaucrats over the people who actually create the jobs and do the work that earns the incomes the politicos then demand to redistribute?

Seems to me if we could just cut them out of that equation, we'd all have a lot more money to create a lot more jobs to pay us even a lot more money that we'd then get to keep.

What am I missing?

 

[JMichael]

Atlkvb, always like your comments and appreciate the discussion. We have gotten a little off topic but that is OK. We can all agree that 99% of us (nothing is ever 100%) would prefer paying zero taxes. I agree that we should not waste tax dollars and to the extent that waste is occurring which increases taxes that should be eliminated. However the fox is guarding the Hen house. The waste is never cut. Instead you get smoke and mirror changes that do not achieve anything except to get the publics attention away from the real problems.

 

[atlkvb]

Atlkvb, always like your comments and appreciate the discussion. We have gotten a little off topic but that is OK. We can all agree that 99% of us (nothing is ever 100%) would prefer paying zero taxes. I agree that we should not waste tax dollars and to the extent that waste is occurring which increases taxes that should be eliminated. However the fox is guarding the Hen house. The waste is never cut. Instead you get smoke and mirror changes that do not achieve anything except to get the publics attention away from the real problems.

I agree. It's sad we don't demand more accountability from the folks who demand what we earn. Agree with you 100%. No one's against paying taxes , we're arguing the amounts they demand and more importantly what they're doing with what we give them. They get over 3 trillion dollars a year form us and then complain we didn't give enough....so they run up debt on top that in their so called efforts to "help" us?

Wanna help me.....give me my money back and then leave me the Hell alone!

 

[WVPATX]

I agree. It's sad we don't demand more accountability from the folks who demand what we earn. Agree with you 100%. No one's against paying taxes , we're arguing the amounts they demand and more importantly what they're doing with what we give them. They get over 3 trillion dollars a year form us and then complain we didn't give enough....so they run up debt on top that in their so called efforts to "help" us?

Wanna help me.....give me my money back and then leave me the Hell alone!

Two very strong Libs, Buffet and Gates. They have set up a huge charity from which they will decide the beneficiaries. I think they trust their own judgment more than the Feds otherwise just give the money to the Feds.

Same with individuals and businesses. They will make better, more informed decisions than the government. Much more efficient.