Working with local Small Business owners for years, I have unique insight into the buying power of local Companies. Just like in the national view, we see Wall Street fluctuate, we see that in the local business around Texas, NC and Colorado and surely the rest of the country. Business Owners are reporting that people are worried about this election, more than ever, in their experience. People are talking in the auto repair shops and with the roofers and plumbers. They are holding on to their money, worried this election could create problems, Americans have not seen before. Getting extra things done, unless they are necessary, is not a part of the plan for their immediate future.
For months, husbands and wives and families have had to listen to both sides explain what they are going to do to help AMERICA. For Small Business Owners, you are hearing the Democrats say they will raise taxes on people who make over $250,000. People who already pay close to 40% of their taxes to the IRS. Which leaves them less than $120,000, before local taxes. After you complete the taxing process, many are left with less than they planned on and less than they deserve for working hard and building their businesses. I know for people who are struggling paycheck to paycheck see that as petty or not important.
However, as a Small Business Owner myself, I know how hard I struggled to build my business. I know the weeks of wondering if I could keep the bills paid to continue operating. I am still not to that seemingly $250,000 Magic number as a business, but I still pay many taxes that seem to be way out of bounds for a Small Business to pay.
This entire election is coming down to our money and where its going. For years we have been told about Hope and Change. We were told to retrain for new careers, which meant taking a cut in pay for our years of experience. We have been forced to comply with the Government taking more and more of our money, saying it was to HELP us and others. It would seem, after so many foreign revelations of OUR money being sent to Iran and other parts unknown across the World, that the HELP Story was yet another example of Government snowballing Americans into letting them do what they want.
As Election Day approaches quickly, Americans are scared of the outcome. With so much up in the air, with unknown Candidates and unknown honesty and integrity issues surrounding voting, people are not letting go of their money for anything. I think many are squirreling money away just in case, the worst case scenario, should occur. I am not sure anyone can predict the outcome of this thing. Either way, America is going to be stirred up and people are thought to be ready for a revolution. Economic revolution is surely to occur.
Many vocal companies such as Carnival and many vocal Stars such as Robert DeNiro and others will more than likely feel the impact of their decision to be nasty and vial, as it would seem, the entire Democratic Party has been this year. I never remember an Election with so much violence, coming from those who promote peace, supposedly.
We all stand with baited breath as Business Owners, hoping for the best and bracing for the worst. Many Business Owners may not survive a huge tax increase, more regulations and less control over their futures. We have to hope and pray that it turns out good. And that after thing crazy thing is over with, people will support their local Businesses again and get those things done to continue to grow their Businesses.