pretty obviously, they aren t going to create new jobs for quite some time.they ll have to wait for prices to go up enough to increase their profits enough to overcome the added taxes and costs before they ll consider hiring.
Actually, it is going to kill jobs by the millions. I told my employees last November that if any new taxes resulted from the election, that it was not worth it for me to keep the company open. I have enough to retire and the business is more of a hobby than anything. As long as it s fun I don t mind keeping things going. But if it costs me anything or if it is no longer interesting, it closes. Health care reform, if passed in the Senate and signed into law by the President, will make the business more trouble than it s worth and I ll shut it down and do some traveling.I offered to sell the business to the employees, but they can t afford it, I won t carry the paper, and they don t have the credit to finance it. Selling the assets is the easiest and safest alternative. Based on the House vote last night, I predict that I ll close by May 2010. At least I had the opportunity to get to critical mass before now. People just starting out or thinking of opening a new business are in a world of hurt.
They won t. Jobs will be eliminated. I ve already decided that I will never hire anyone. Also, I m planning on moving outside the U.S. to benefit from the foreign earned income exclusion by moving my company to an offshore jurisdiction and paying myself through the offshore company. (Yeah, I know I will still have to pay self-employment taxes, but at least the first $91,400 of income will exempt from taxes.)Best wishes to the rest of you suckers.
