Posted on 06/15/2012 6:17:30 AM PDT by GlockThe Vote
Barack Obama has said the private sector is doing fine.
Tell that to small business owners; a new survey by Citigroup shows that 23% of small business owners have gone more than a year without pay. The study also says that 54% of them have gone without at least one paycheck; 38% of them said their employees had worked overtime without being compensated; and 18% of them had been unable to make a paycheck for their employees at least once.
During recent years, 78% of the owners have taken less profit, 70% have been working more hours, and 69% have used their own funds in order to keep their businesses afloat.
(Excerpt) Read more at breitbart.com ...
I was one.
Not a year, but my income is way down as well in my business.
Heck, some months my assistant makes more than I do lately!
Not a year, but my income is way down as well in my business.
Heck, some months my assistant makes more than I do lately!
I pay myself the bare minimum to get by. Most of my employees make more. Trying to build my business but taxes get in the way.
Wow ! that’s astonishing !
I know how it happens though. I put just enough to pay my bills, and very carefully at that - The rest goes to my assistants and back into the business.
Honestly, I would do the same if the money were rolling in. I drive a 1991 Honda to my client sites, and consider myself lucky to have such a great car. My computer is 8 years old now, and I.T. is my business !
I take some ownership share this year since I owe myself so much damn money, but even that has been paltry. Last year I paid in. It is what it is and I figure we will ride the tide til the economy recovers. I have many employees that have made much more than I have over the last two years. Last year I made a big fat zero in the business. If it weren’t for the housing ventures, rental income and my wife’s new adventure on the other side of things, I think we would have been in rough shape.
Taxes have been a bear. I underwent a business license audit on estimated taxes since moving to another locality several years ago. Wasn’t expected it and all I can say is it hurt.
Starting a new, side business. Lost money the first year. Broke even the next two. Small profit last year. Should have a good profit this year, which will produce tax income for a Republican regime, at least. Gross is good.
It’s a big party out here.
Same here....We almost had to close the store we have had for 42 years.
Not the tinest of cuts in BigAcademia and BigPublicServices though:
1) EASY, non-demanding work.
2) Ridiculously near fully-funded early retirement.
3) Work only 2/3 of the calendar year.
4) Ridiculously generous paid time off, health care and other benefits.
All paid for by the guy who couldn’t pay themselves for a year
Not the tinest of cuts in BigAcademia and BigPublicServices though:
1) EASY, non-demanding work.
2) Ridiculously near fully-funded early retirement.
3) Work only 2/3 of the calendar year.
4) Ridiculously generous paid time off, health care and other benefits.
All paid for by the guys who couldn’t pay themselves for a year
42 years is a long time. I retooled a couple years ago. The layoffs were the hardest. Strategy changes were easy. But we thought about it last year. Sometimes you go “what’s the point of it all” but then I walk in and all the folks looking at me that depend on me changes my mind.
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