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Small business owners say higher payroll taxes will hit employees hard - and there's nothing they can do
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Don't think I was the money -- if you make a lesson 400000 dollars a year President Obama and those who voted yes for the new fiscal bill -- -- to tax -- to go.
And might -- the honor of having works is not happy about that he joins us nice to see in my.
Nice to see you thanks for having me I'm so did you get any sort of special -- for your business in this this storm Nat.
We got a little bit we got an extension of the section once every nine which says.
The whole element of the tax code that allows us to accelerate the way we appreciate assets so we're hoping to open a new -- this year that'll benefit us.
So that helped get that help them.
Okay what about the F fact that the payroll tax.
Is now it's going to go back to two records earlier terms front that's a huge disappointment to me disappointment and it just makes it harder -- you work or is it all as a job killer is -- substance may very painful for expansion.
Well it it hits.
My employees in my customers.
My employees you know people making -- my managers making people making 4045000.
Dollars a year.
It immediately starts coming out of their paycheck right now.
And I think that's hard for them to take you know we've heard all we had an election we've heard all this partisan bickering.
But yet when a deal gets done it's done on the backs of the people that I think can least afford it.
So you don't like this deal.
-- -- I have one part of the helps in business right well you know.
I wanted to deal to be done desperately because I think all of just that hawking -- bickering right out of the election after after that don't belong.
Arduous -- slog there.
I think that affected.
People customers mentality is so people Warren doesn't -- guessing going to this this shopping season it was a tough for us so I really wanted to deal to be done and I honestly thought that they would get all this stuff done.
But so we got the payroll tax we threw that in there we got -- deal done but the important stuff it sounds to me like we've -- that down the road and another three to six months so for the next several months we're gonna have more of exactly the same kind of stuff like that people were hoping this behind us after the election.
Did in since I've been critical of the politics and the Democrats and the president the fact that they've known about this for eighteen months as far as the -- that just passed us.
And that they just -- on them we want this drama for the last ten days in its and then they certainly didn't make a definitive decision insolvent we've got this other thing coming up in two months sequestration.
To basically -- it.
I'm curious is it.
Had this been decided to work fellas seem a year ago would it have have made it better -- your business that level of serenaded the fact that we've been uncertain has that made it more difficult thing to do this is fine.
Absolutely.
First of all the section one of not knowing whether -- -- 17 I was going to be continued that alone if I'm going to a bank to say I wanna open a new store.
And -- here's how I'm gonna pay for this.
Not knowing how long -- -- deal with.
250000.
Dollars worth of asset purchases.
I think that's an important part of the decision making process when you're sitting in front bank and I think it affects consumer sentiment I mean I don't make decisions about things based on the tax code.
I make decisions on whether I think whether or not I think consumers are going to be spending money and I think if consumers aren't.
Are worried about what's going to happen and they're pulling back then.
You know by extension myself and businesses like mine are gonna pull.
Think that I -- sure that this professional politicians never run businesses themselves.
I'm not so sure they'd they'd I don't think they understand how much they -- really part of the problem.
The fact that they don't do their work that what -- they decided to side of the you know once less certain he's put in people can adjust but this sort of -- -- lack of certainty that they've had a since the last eighteen -- -- we continue to -- -- because they will not do their jobs they -- for whatever reason.
They're the ones who have put his big break on the economy then once was slowing down they're the ones are hurting Americans it.
It is shocking to me.
That this is what we had to do to get the deal done and I'm sitting out in the green room listening to these other breaks they were inserted -- this bill.
Anything.
Hollywood and yeah.
Goldman Sachs.
Goldman Sachs one of the most one of the wealthiest -- and the investment bank robber out of the money they get the break -- how we will let you know.
I don't know what the truth is but I can tell you honestly that might people.
Still to this they blame these big banks for getting us into this yet.
We're continuing to give them.
To give them breaks of some kind but a guy make it 41000 dollars a years of managing one of my stores.
He's gonna have to pay another 300000 dollars.
In taxes that he did have 22 years he's in decent -- It is indecent and by the -- the Social Security part of this does that really even affect the deficit I mean it does if if it here I -- actually allowed to become insolvent but I mean that's I think that's on the asset side of this so it doesn't affect the profit loss side at all.
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