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Wednesday, May 24, 2017

American Small Business Owner Rages At Politicians: "Quit Your Job And Try The Real World"

This morning I read a stinging open letter written by a small business owner in the Land of the Free named Don Chernoff. Chernoff imports and sells luggage, and he pulled no punches in voicing his disgust for the phony support and failed policies that constantly make his life more difficult.

I’ve edited his letter for length below; the full version is available here.

You all love to talk about how much you support small business; the reality is the opposite. The economy is changing rapidly and is vastly different than just a few years ago. Many of the factory jobs in this country have gone and will not return.

Computer technology and automation will soon eliminate thousands more jobs (think truck drivers, taxi drivers, office workers, etc…).

Because there will be fewer middle-class jobs, many people who never considered working for themselves will be forced to become sole proprietors or open a small business. It is therefore critically important that you make it easier for these people to do so.

Right now instead of creating incentives for people to start their own small business, you create nothing but hurdles,allow me to give some examples.

Excessive health care costs

I work for myself and have to pay my own medical expenses. Before the “affordable care act” I was paying about $200 per month for a high deductible policy. It was far from perfect but it got so much worse under the “Affordable” care act.

I now pay over $400 a month, my deductible went from $5,000 to over $6,000 and my out of pocket costs for care have skyrocketed.

At this rate, I will go broke soon, and I am healthier than average. I don’t know how any normal working family or small businessman can possibly afford these rates without going bankrupt.
Income Tax Filing

I have to spend dozens of hours and thousands of dollars for a tax accountant each spring to prepare my taxes because I cannot possibly understand how to do it myself, and I have a master’s degree in engineering.

I also have to remember to pay quarterly estimates, even if my income in not predictable or fluctuates (which it does for most small businesses) or else I get dinged with penalties.

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2 comments:

Anonymous said...

True , with Company I work for I had no deductible. Now I have a $2,000 Deduct.

Anonymous said...

It is true
Where I work they keep saying they haven't raised the cost to us.
Every year the co pays increase more and more so in essence it has increased.
The medication part of insurance is getting worse also. We are trapped into using incompetent companies that are milking us daily. They over fill and now decide how you can take your medicine and what dose you can take. Who set them up as God almighty?
I think the insurance companies and Pharmaceutical companies are draining us and causing prices to rise