I manufacture 100% of my products in the United States. That already makes my business expenses higher. I am interested in hiring, and I have job postings out there.
My business is growing. I wish I could hire three or four people, but I'm nervous. In one year from now, I don't know what President Obama will do about small business taxes.
One very important point that gets lost in the political debate over taxes is that small business owners, like myself, pay taxes on our business income at the personal income tax rate. So when politicians talk about increasing taxes on the "rich" making $250,000, they're including thousands of small businesses that employ millions of workers.
[Editor's note: Matto declined to reveal her tax rate.]
This has unintended consequences: The government's intention is to make the "rich" individual pay a higher share of taxes. But the reality is that it also directly reduces the capital available for me to hire more workers.
I understand Obama would like to extend the temporary reduction in employee-paid Social Security tax. That's a nice gesture for employees but it does absolutely nothing for me as an employer. In order to hire, I need permanent reductions in employer payroll taxes and other business taxes.
Another idea: Give more aid to unemployed workers. Unemployment taxes are paid by employers. So, again, an increased burden on employer-paid taxes is obviously bad for job growth. When you add up all these taxes, I need to sell a heck of a lot of "Made in USA" t-shirts to continue making products in the USA!!! -- P.K.
Be polite and professional when giving an employee the boot. And if the person getting fired starts to lose it, duck.
