I just don't understand the sentiment of those people that believe someone who busts their ass to put themselves through school graduates with $60,000 in student debt, gets a job making $90,000 should spread the wealth (if you want to call it that) they busted their ass for to someone who's only aspiration in life is to graduate high school and flip a burger for their entire life. There's nothing wrong with doing either but why should the richer of the two be penalized for being a success? There's obviously in inverse to this and it's very simplified but all this socialist talk drives me up the wall. Bottom line is my money should stick with me, I've worked for it and earned it, and if I want to help someone I'll help them. Don't take my money to help someone out just because you think it's fair that we share the wealth.
Well spoken sir!! I agree...I have $86K in student debt and that's just dental school. My college was completely paid for by scholarships and The Hope scholarship. My parents didn't have the money to put me through school. I do give away money to charity every year. However, I do think that will have to stop. Especially if that tax calculator is correct. Brian Perdue, who is a friend of mine, that owns one of the biggest salon chains in Georgia was asked by the AJC who he was voting for. He says “Would you rather have a little bit of money that you are taking from me to give to somebody else, or would you rather I give them a job?” This is coming from one of the biggest philanthropists in Gwinnett County and was named the Pinnicle Business Person of the year last year. Everyone I know who owns a business is frightened about how much Obama is going to cost them, and whether they will have to cut jobs or not. It's sad but true.
Here is an excerpt from the article.
Slowdown means trimming excesses
Over the past two decades, Brian Perdue has expanded his wife’s hair stylist business into a small empire with five shops and more than 175 employees in Gwinnett County.
Monday, he’s opening a sixth shop in partnership with two former Deloitte & Touche consultants whom he has been mentoring for two years. The new shop, NiaNicole Salon, adds a new affiliate to complement Grayson-based 124 Group’s three brands, Salon 124, Genesis Salon and the Process Institute of Cosmetology.
But the 46-year-old president of 124 Group fears that tax increases for high-income individuals could crimp his plans for growth.
“What most people don’t understand is the profits from the company don’t go into the owner’s pocket. It’s reinvested back into the business,” Perdue said.
Such concerns have become a campaign staple for Sen. John McCain, the Republican candidate, since Barack Obama’s famous encounter with a reluctant taxpayer who has come to be known as “Joe the plumber.”
Perdue, who is no relation to Gov. Sonny Perdue, said a tax increase on income over $250,000, as proposed by the Democratic presidential hopeful, would slow the growth of his business.
“Would you rather have a little bit of money that you are taking from me to give to somebody else, or would you rather I give them a job?” said Perdue, arguing that tax increases are “not the way to success.”
He said he’s not familiar with the two candidates’ health care proposals, but added that the high cost of employees’ medical coverage is a challenge.
“There’s only so much you can pass on to the customers in higher prices, so that is a big problem,” he said.
Perdue said his biggest worry, however, is the economic downturn.
“The one thing I cannot control is the economy, and I think we have gotten ourselves into a mess,” he said. It looks like it’s going to be the worst recession he’s seen since he went into business in 1991, he said. He added that he wouldn’t have chosen to open another salon now if he had known how severe the credit crunch was going to be.
Still, he’s confident that he’ll do OK and could even gain some market share if he concentrates on making his company more efficient.
“I’m very positive about it,” he said. “I get to actually slow down and work on the business.”
124 GROUP
> Founded: 1991
> Employees: 175-200
> Revenue: $5 million-$10 million
> Service: Operates hair salons and cosmetology school.
