Tax the rich. I don’t agree with it, I voted against it, and I consistently argued that it would not fix our economy or lower the deficit; however, if the recent election showed us anything it is that the majority of the people in this country want just that.
As a citizen and small business owner, I am watching with great interest the current political wrangling and possible impasse regarding a solution to avoid the so-called “fiscal cliff”. As much as I had argued against raising anyone’s taxes, I have to concede the point that the re-election of President Obama clearly indicates that the majority of Americans want to impose a tax increase on those families with incomes over $250,000. As a person who believes in the democratic process, I also must accept that this tax increase should be implemented as part of the sought after resolution of our fiscal crisis provided that any such resolution also includes significant and appropriate spending cuts.
I do not believe that such a tax increase will help the economy or have any meaningful impact on reducing the national deficit; however, I also believe that the people’s will must be fulfilled such that we have to take that plunge and hope that it has the desired effect. If they are wrong, time can only tell and in that case there is always another election four years from now.
I am also unsure of the long term effects of “Obamacare”; however, with the Supreme Court affirming its constitutionality and a political reversal no longer a possibility, we must accept it as part of our permanent reality. Even if there may be some business owners who are unable or unwilling to absorb the additional costs with the inevitable layoffs or reduced hiring, we should still try to make it work. If the outcome proves to be detrimental to our economy and the business community then we can, at least, say that we gave it a fair chance. For my part, the insurance coverage mandates of “Obamacare” are a non-issue since USFSB has always considered it an important part of its business practices to provide all of our employees with full health, dental and vision coverage and I would not want to conduct my business in any other way.
The policies and political solutions now being devised are not what I wanted, voted for, or believe are, necessarily, what is best for our country but I also understand that nothing is gained by becoming entrenched in a stalemate. Life is full of compromises and now is the time to put our differences aside and work towards a solution that recognizes the will of the people.
By the way, I recently stated my intention to refrain from writing and posting any more blogs during my self-imposed hiatus so please do not consider this a blog in contravention of that stated intention but more of a business commentary. Just as in politics I have learned that we can deny the existence of anything by simply giving it another name, for example, an insurance mandate penalty is not really a penalty if we simply call it a tax.