You're watching...
NFIB California Executive Director John Kabateck on the impact of taxes on small business and job creation.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
All the talk about the debate Joseph Biden essentially Smart -- I think his way through it to the guys says wipe that smirk off your face -- there's nothing funny about.
What is going on with this recovery and there's deep in debt government.
John -- effect is the California executive director of the National Federation of Independent Businesses.
John I'm do you say there's some serious problems here and laughing about them smirking about them.
Doesn't help the matter anyway it's -- Now thanks for having me back by the way -- and absolutely this is not the time for anybody to be smiling.
Frankly if you look into the eyes of the average mom and pop here in California across the nation.
They are doing anything but smiling and frankly with good reason you know there -- they're uncertain they're frankly scared about what tomorrow will bring.
We get tax upon regulation upon mandate.
-- -- lawsuit they have good reason to be doing anything but smiling they'd like to but they're terrified -- You -- -- enemy John this dichotomy -- between.
For want of a better word average Americans and their bosses and -- average Americans depending on the survey.
Our feeling a tad more -- on a lot more but but more optimistic their boss is not so much.
I always worry about that type of -- because if I'm happy and my bosses and happy -- I hate.
I'm not -- -- Yet and that uncertainty continues to ripple out I mean we've done surveys on our recent survey in September showed.
That's optimism among small business owners continues to plummet.
And what we're finding the most -- is that they're just not ready to -- hiring decisions and they're actually looking at ways to frankly scaled back.
So that ripples out to the employee and frankly to the consumer and it's just not a happy situation so -- there may be some people feeling small areas of of hope with they want to have hope.
But but ours our records are showing anything but that they're just scared and they're frightened and -- certain.
So what would it take to a leader for years.
Well I think first of all we need to stop the madness one of the things I've said before on this show is our elected officials need to listen to the people they were elected to represent and they're just we're just not finding that in California.
Or across the nation.
We got to make sure that we.
Who make sure the tax rate and frankly taxes are lower.
Make sure that regulations are reduced and make sure that we're giving people some hope let's remember small businesses on average pay about 37% more.
In regulatory compliance about 18% more for health care insurance.
About everybody your very -- that address this once of -- what's right when the vice president says that the diluted.
But hiking taxes -- but the upper -- will affect only 3% of small businesses.
There's another number you rely on how that 3%.
Translates.
Its morning.
Well I think what we find also is that any increase like Danielle is actually going to hurt small businesses let's remember small businesses create about 99 point 7% of all jobs.
Frankly they are most of the businesses across the nation and those.
Hostile and that top percentage to 3%.
Aided by some that's it's a counselor minimum little corner of -- hires it's not up to half of -- hires so we forget that.
That's absolutely true.
And the other thing that I think both both in Washington DC and certainly here in California certainly Governor Brown in the legislature don't understand our tax rates and frankly how they affect small business is the governor is trying to push a fifty billion dollar tax increase on the November ballot.
I'm thinking that it's a millionaire's tax let's call it what it is and main street tax on mom and pops because that 250000 dollars most of our folks file as individuals not corporations.
How that's gonna be hitting the small business owner the mom and pop the baker.
The the auto shop owner.
And frankly ultimately the employee.
Great stuff and reminding -- good stuff to John thank you.
