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Bottom Line Growth Strategies CEO Carol Coughlin on business concerns about the health-care law and the fiscal cliff’s potential tax implications.
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-- President Obama is meeting with small business leaders today to garner support for his plan to deal with the debt.
This following a meeting yesterday with the White House officials and small business owners.
What -- or in -- -- was care Chicago she is founder and CEO bottom line growth strategies and he joins us now.
Carol thanks for coming in appreciate what is your company do.
Well we are aggressive advisors who we America's growing companies in the mid Atlantic area to provide -- -- -- growth.
Profitably and sustainably -- And and the fact is is that because you got a lot of offices around -- -- there has been growth there.
Even though the general economy is is growing and anemic levels but how -- the White House find you -- -- they're they're folks find you.
I -- believed they were looking for businesses in the area that we're growing anger that we're in the news sends.
That's how they -- okay did did you meet with the president Hurd.
We did not we met with a number of advisors at the White House that for example.
And then and business on the outreach group immigration and HHS -- Did you get the sense I mean when you talk to business group you don't have to go through a lot of opening jargon and so forth you can you're speaking the same language.
Did you get the sense that they understood the business the way you do.
Content.
They're clearly -- some areas that vein.
Didn't understand like lust for exam.
If for example on the impact of capital gains increasing capital gains taxes.
On an Angel investors to fund these innovative companies Biotech companies by -- scientist.
I'm asking India concern of the business community -- side of his tax cuts and tax increases go into effect.
They didn't seem to get that what about obamacare the effects particularly on small businesses of all the rules and -- and taxes of Obama care.
But the one thing we spoke about there we had a few medical device companies that were represented.
They're concerned about the excise tax on the medical device companies because those excise tax is pretty much eat up the profits that they would otherwise.
-- but there are a lot of small businesses that that are just above that that limit under which you don't have to to worry too much about new taxes like that fifteen.
Employee limit who are concerned about it did did was that raised with the -- with a presence people.
That lesson that I didn't get a lot of talk yesterday the biggest.
Issue that got the most -- -- -- fiscal -- All right and and what about taxes I mean obviously the president wants to increase the marginal tax rate.
Lot of subchapter S corporations as many as a billion that could be hit.
-- tax increases because this is that a great concern among your peers.
The biggest concern is that they resolve this Asia.
Quickly and decisively and yes there are issues about where the taxes start kicking in as -- 250000.
Shares at -- that there are some concerns.
But the biggest concern was that it got passed again addressed.
And quickly.
But what is the one thing and again you -- lot of different businesses you get input from a lot of other small businesses what's the one thing at.
That you would like to see them address positively that they haven't so far.
Need it fiscal cliff is an example of the one thing we need to see contrasts on and quickly but really.
There longer attend issues -- it businesses have padded to do a lot of things have the last few years in difficult economy to cut costs and increased their own revenue is.
And we're looking to the government who hasn't changed so we're looking for the government to come.
Fourth with a plan that -- Get us over the fiscal cliff but also a Jesse's longer term issues.
By the way did very quickly do you think -- small businesses are gonna be hurt in the coming year more than big businesses.
Yes I didn't why.
Because.
For example.
A lot of small businesses are funded by Angel investors.
And Angel investors are gonna be hurt by any increasing capital gains and passions their interest in Carol Clark cargo and thank you very much for coming in appreciate it.
Thank you for having me capsule.
