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Karen Kerrigan Small Business & Entrepreneurship Council breaks down how proposed tax cuts and Obama Care impact small business owners.
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-- -- -- -- Well ask yourself this question is President Obama doing enough for small business.
My next guest says that President Obama is sending a lot of mixed messages when it comes to his treatment.
Of the entire sector joining me now with her thoughts -- small business big ideas Karen -- president and CEO of the small business an -- -- Counsel let's start with what the administration has been doing with regards to tax breaks they just came out Karen -- propose giving.
A large corporations tax breaks doesn't that trickle down -- the small business owner.
Yeah well it does mean you have large corporations.
I mean the average multinational.
Corporation does business just 3000 small business suppliers is certainly it.
Corporations are more healthy.
If they're doing -- business small businesses benefit from that but still.
You know if you're going to be cutting taxes for big corporations you really need also be cutting taxes.
For the job creators and the innovators.
In this country which -- small businesses which.
Most of them are not are not incorporate and so.
We like to see you know parity when it comes to tax cuts and also lowering tax rates are individuals as well for small business on.
If you're sold prior -- -- if your tape partnership if -- S corporation.
Any of those types of ways to file for small business.
They don't get the advantage to see corporations do that's your.
Here absolutely absolutely so.
You know really going to be talking about tax reform in making our taxes and more competitive you can't -- about the small business and entrepreneurial sector you have to cut taxes for small businesses as well.
But -- what about health care we've had a lot of small business owners a lot of experts come -- and say.
That the health Carlyle has proposed in place as it is now policy with the Supreme Court -- to say.
Would actually be a drain on small businesses.
What is your take on that do you think -- small businesses are maybe not gonna hire because the proposed health care changes do you think it's a wait and see thing what -- are we right now.
You know I think this law is having an impact right now on business owners it is a latency is causing a lot of uncertainty in terms of what it means in terms of cost.
But I do have to say that as the health care law is being implemented it is driving up costs -- is driving up health insurance coverage for small business -- -- Business owners were promised when the law was passed that there.
Costs we get down and not go up but there's still seeing increases in costs going up and this law hasn't been fully implemented I.
Think the net effect -- -- that promise what four million businesses would have direct impact because of this right well they promised that four million.
Small business owners would be.
Able to take advantage of the health care tax credit right and an IG report from the department of treasury just came out.
And found that only 300000.
Small business owners actually could take advantage.
Of that tax credit because.
It -- to restrict it is very complex.
You know really it was.
It really wasn't a robust enough tax credit it also is temporary it wasn't permanent.
So it didn't have the impact that the administration's that it would for small business owners what is the number one concern right now for the small business -- -- Well gosh I have to tell you that's -- that's a pretty a loaded question you obviously the economy.
Is is a huge concern.
Being able to.
You know increase -- revenues and stay competitive.
You know right now with gas prices on the rise this is a major major concern for most small business owners.
We did a survey last year in June.
And -- 38%.
Of their small business owners we saw that first run up in price.
Said that -- gas prices remain high -- tick higher that this would impact of survivability of their firm.
So small business owners are being squeezed right now the economy is still very fragile right remains weak.
Revenues aren't where they should be in terms of recovery.
And now you have these higher gas prices higher health care costs a lot -- -- and policy concerns and they have economic concerns as well.
Karen Kerrigan president CEO the small business and entrepreneurship council.
Very interesting Karen thank you very much for joining us.
