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Author Mark Stevens discusses why the current government climate lead him to sell his company.
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With the prospect of another four years of this economy on May be worse make -- sell you'll company.
Joining us his marketing strategist mark Stephens is the -- -- of -- you'll marketing is -- hall.
It's wrong now what a second you've got a marketing company and -- sold it yes OK why did you sell it.
I sold -- about two weeks ago tomorrow B two weeks can retain an equity position but.
I sold it because.
Obama said I didn't build it.
Will let -- -- when -- failed to sell it really yes when I came to sell it.
They could he gets reelected next year to say -- marked by the way that company you built.
We want half of the profit you got for selling it so suddenly you remember that I built it.
And so one of the points in my decision to sell the company.
Was the fact that I wanted to -- the capital gains inevitable capital gains rise a -- If he gets reelected and interview doesn't get real and I think to probably rise anyway but I have to play chess and business and it.
I just wanna get the timing right you deliberately soldier absolutely and you sold it in this calendar -- yeah.
Because you've made a capital gain on your company yes and if -- -- sold it next -- that capital gain would have been taxed much more heavily.
Then if you made to put the capital gain into this calendar year 2012.
So it was a tax question in pot Barack heart attacks question you have I'm look I'm staying on.
With the comes only -- got into an equity division.
I'm still gonna leave the company for awhile.
But that -- called on the second -- you also saying that when the president made that remark you didn't build that.
That was part of a cap on you really saying that it did you Europe high level business -- you really responded to a presidential statement like that is that right that's it -- so.
We're disgusting thing I've probably ever heard the United States of America you -- -- strongly up yet so how to -- Obama.
In my way.
And one of the ways is that I think other small business owners and business owners in general should look at this and say we have an advance opportunity.
There's a window open now sell part or all of your company now while you still can do so.
And they come after you for all kinds of stuff who knows is to me it's a lawless administration but I'm able to I was able to do what I want to do -- now.
I also want to say one other point there's there are two classes we know this is talk about a lot but I -- to Washington for three days if you months ago.
And to speak to some very important leaders because of a speech he gave that -- -- -- Is that there is the money creators like myself and many others and as the money grabs.
And a money grabber is want to take from the money creators and it really annoys me.
So that absolutely did play a role that there -- other major positive things that led me to sell the company.
And I look forward to the next adventure and a company.
But boy that was a big decision when -- money crossed the wire in the lawyer's office a week ago tomorrow.
To -- -- tomorrow.
Some big difference to pay the taxes immediately gigantic difference and if you pay these.
These these these these these these these unbelievable taxes that they gonna raise capital gains have been completely this -- and the business community which they hate.
They hate us so -- yes you play against -- hatred.
Well at the lose jobs and some two bit people's jobs like we're some of the at a time pass -- annual company -- don't know visited job matching -- people.
And I'm -- meaning in in charge the company war.
A couple of years.
So those who love the company so I think is another chapter here.
I still love American free enterprise.
I still think we fall victim to things -- is you know even these discuss you have a -- addressed before.
Actually bothered me because -- -- to adopt that kind of thinking.
I thought -- 30000.
Dollar -- it's nobody -- doesn't -- right.
And what that you're not gonna dribble and -- and stay but I don't do it anyway yeah I'll go lawyers sent to name other civilian -- money as a nothing.
Provided at -- -- nothing I don't I know you wanted to ask did you make it all of this kid productive are more people thank you you know -- the company can.
That's it I'm sorry we're out of time but we really appreciate the passion that you bring to the subject we like it might even -- give -- an argument much.
