Published: Wednesday, Oct. 10 2012 2:00 p.m. MDT
I would love to say hello to this CEO.When will he be in Park City
to meet with customers?
Wow, so if I were thinking of buying a Westgate time share I think I would wait
until after the election. Statements like this are not brilliant.
As part of the budget deal cut last year there is an automatic cut in defense
spending. As part of that law the Democrats included a provision that all
employee reductions required the firms in question to submit 'red
slips' 60-days prior. This was done as its own election threat. They
thought it would cause these voters about to be fired to vote for Obama. Now
they realize that over 100,000 'red slips' will go out days before the
election, and the Dems are bragging about cutting defense. Now Obama and crew
have begged these defense firms to NOT submit the slip as required by law, the
law they put into place. The most recent, they will pay the fines for violating
this law.Now we have a large private employer who insists that he is
going to pass along all tax increases to his company, which will result in
people losing their job. Lots of statements going around about the harm of
Obama's re-election.Clearly, the Obama team is bad for America,
and their own actions even show this.
Quick note about Obamacare. Are you aware there is a 3% tax on all income
property? While this sounds fun think about the margins, certainly in todays
realestate market.You put a home on the market, pay a realtor 6%,
possibly even cover some of closing costs on top of that in order to incentivize
someone to buy it in todays market. Now, you pay another 3%. Most people are
struggling to break even, let alone make a profit. Adding a 3% tax on income
properties will hammer investment properties. For a business like his, almost
entirely reliant on investment buyers, it will destroy it. I know,
we like to villify the very people that pay roughly 75% of all taxes in America
as the evil people who don't pay enough. So we jack another 3% on their
investment properties because dang them, they need to pay more! At some points
margins just disappear and people stop buying and selling. This is what is faced
here.And on top of the 3% targeted at businesses just like his, we
have the Democrats wanting to raise income and corporate franchise taxes on
people like him. It destroys him? Shocker!
No Romney Ryan sign......but I do have my empty chair with a video cassette on
the seat on the front lawn!I too am firing my staff if Obama is
I have never heard of him and hope to never hear from him again. His employees
should join together and file a class action lawsuit against him. In a
democracy people should be free to vote their conscience without fear of
retaliation. Comes across as nothing but an egotistical bully.
So he wants to retire in the Caribbean? I think he is doing well off for
himself. Most seniors struggle to make ends meet. I sure hope I can become
wealthy enough to tell my LAZY good for nothing employees that I'm going to
retire to a tropical island.
That businessman is only being honest and giving his employees a heads up so
they know what to expect if Obama's policies keep going in the next 4
years. If you think this is an isolated case, you are mistaken. I work for one
of the largest private finance companies in the country, my sales staff calls
hundreds of large corporations daily offering our lending/equipment finance
services and dozens of CFO's each month tell my staff that they are barely
hanging on to see if Romney gets elected or if Obama gets re-elected. If Obama
is re-elected, they will promptly close their doors. Under Obama, we now have
the highest corporate tax rate in the world and Obama wants to raise taxes and
costly regulations further and further. (plus Obamacare will just skyrocket
small business insurance costs!) We are on the same path as Greece and Spain
(bankrupt governments with 50% and 25% unemployment and Obama does not
understand even basic economics to change paths and won't stop his
unprecedented budget deficits until he spends us to that same path!
JMT,If margins are so tight, and this three percent is such a
problem, then why are corporations making record profits? Unemployment is still
high, but business owners are raking in the profits... What is wrong with that
Telling employees the reality of possible layoffs is a very good thing to do.
Some of the liberals out there may think this is trying to influence the
election but these employees need to make plans for Christmas and beyond. Will
they have a job or not. Not sure where all his properties are located but he is
not influencing anything in Utah. Also layoffs are not the same as getting
fired. If they get laid off they will just be added to Obama group of getting
unemployment and food stamps.
Terry, large businesses are going to shut their doors if Obama is
re-elcted..seriously, I mean seriously. Report after report shows record
profits for large businesses from banks, to cars, to many retail companies. Of
course the profits are being made on the backs of employees and consumers..but
they have money. Closing really? If large corporations were on the verge of
closing, the stock market would not be at 13K+ it would be in the tank. Secondly, this whole Obamacare is going to crush small business is a
pure lie. Businesses with under 50 employees are exempt..which includes almost
90+ % of small businesses, and it includes 100% of the businesses portrayed by
the right as going to be crushed (the corner bakery, the auto repair shop, the
landscaper etc.). What you can count on is if Romney is elected 30 years of
wage inequality, 30 years, of opportunity decline, and 30 years of educational
decline will continue. Plus oh by the way women..you will lose your right to
equal pay, and your right to make decisions about your own health.
Instead of going after his staff I'd like to see him hold his breath until
he gets his way. That's more like the behaviour of a six year old that this
guy seems to want to emulate.
If only this response to a black president was an unusual thing. But the facts
are that millions of businessmen have exhibited the same attitude over the last
4 years. They have withheld investing and hiring in a deliberate campaign to
defeat President Obama. Further, it seems that the campaign was
not the work of an organized effort by a group or party, it was just the left
over hate from the days of segregation.
What is truly frightening is that so many people posting here are gullible
enough to agree with this guy.
pragmatist,businesses with 50 FULL TIME employees may be exepmt from
Obamacare, but their owners will still ahve to pay the taxes to support it. It
just means, like Red Lobster and Olive garden, they will cut their full time
workers' hours so they are part time.I M LDS 2why are
prifits high? cutting costs.a 3% return on sales is high for many
businesses. taking 3% more from them would make many insolvent, there is not
much else to cut - except personnel expense.UtlraBob,hahahahaha!!! the tired old race card? that's the best card you have in
Lost..what taxes? The only taxes that are proposed..again proposed, is an
increase in the marginal rate to 39% from 35%the rate businesses were
paying ten years ago when you couldn't get in their doors they were so
busy. There are new fees on various medical field businesses (and their profit
margin is not 3%, it's multiples of that), not on the corner bakery..in
fact..there are specific tax breaks if they decide to provide health care for
their employees. So truth no new health care taxes only tax breaks for small
businesses.By the way the increase is not taking 3% more from the
business it's a three percent increase in the marginal rate..go look it up.
This kind of threat is the same kind that McKinley supporters used against
William Jennings Bryant. When are we going to come into the 21st Century?
Pragmatist,I guess you missed it, but the SCOTUS decided last June that
Obamacare was a tax. sorry for the typosahve? ouchprifit? oh my!exepmt? geez louise!did a quick google search
for average corporate profit margins. Best I could find was 3/13/11 from
Bloomberg that said average corporate profit margins for 2011 were forecast to
be 8.9%, whack that down by 300 bp to 5.9%, and you see that the 3% tax increase
reduces the corporate profit margin by 33.7%. so yeah, it's significant,
especially to the small business owner who has to leave most of the income in
lost in DC A person has to play the cards he has been dealt. In my
case that means that my being has been effected by the racism of people in the
United States. But only for the last 70 years or so. I do not
believe racism toward black people stopped being a major consideration in the
personal feelings of people. For most of us there was nothing we could do about
the laws that sought to equalize the opportunities and we settled into an
acceptance. But for the rich and powerful the laws were just regarded as
challenges to be bypassed. The bad economy is blamed on President
Obama. Yet from my point of view he seems to have done much to satisfy the
republican wants. He even abandoned his supporters and allowed his name to go
on a health care bill that is more like what business wanted rather than the
reform desired by the American people. I cannot find any logical
reason for the businessmen to hold back their investments and jobs. So I am
left with the suspicion that the reason is hidden and not to be spoken.
The problem with Opinion Polls and this sort of comment board is that few if any
of the respondents are business owners.
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