Small business doesn't have access to many of the tax breaks available to larger corporations. It's really quite unfortunate given that 80% of all business is classified as small business in the US.
Over time, I think it will be more detrimental. All of the news over shrinking budgets among states and the fact that over 43 states are facing huge budget shortfalls, at some point taxes are going to rise. One of the most difficult taxes to swallow is the 15+% self employment tax. That one drives me crazy the most and when tacked on to a 35% tax bracket equals over 50%. Not much incentive to be in business on your own.
Unfortunately with the current governments and independent financial controls it is only getting worse...for all of us.
The next kick in the teeth for businesses, particularly in the western world is the "Carbon Tax" trade, scheme that the powers to be, are attempting to foist onto us all.
This is going to send many businesses in these Western countries to the wall. While China, India, and all the third world countries are allowed to further flourish and prosper with their loose governments, slave camp labor, and corrupt officials.
Have you ever tried reading the tax codes....? All 60,000 of them? It's ridiculous and the longer we allow the current system to go along, the deeper the pain is going to be.
As most governments print more money, who do you think is going to pay for that?
The people .... us.
What do YOU think? Feel free to share your view by leaving a comment.