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FullContact CEO Bart Lorang on the tax implications for small businesses of a potential fiscal cliff deal.
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Rang as another business owner CEO full contact in Denver.
Art.
Invited to the White House.
And you do not know mushrooms.
Get let you know I mean and neither there's look with a lot that just went by there.
And that last interview about was kind of new information to me are you sad that you're not in the much for business I mean he is he's a profitable.
He got an idea White House I had -- -- and yet you couldn't you know grow mushrooms in dirty wet coffee grinds but hey.
You know it's a pretty fascinating business than the -- business and I won't.
Well being from Colorado won't comment on mushrooms -- yes it's too easy that are grown -- -- -- joke.
I'm what I -- What everything he just said you know he's said that there was a very positive and exciting -- in the room they're exchanging ideas the president's -- -- it's all very actionable.
One thing that I heard was something everyone is saying which is here's the thing that I'm getting from the government right now that I like.
You know this incentive program this money he's getting back for hiring people and he doesn't want it to go away.
We're kind of all that -- right now right.
Yeah I mean I think I think what I heard was.
Was -- and I'd like to know to make up of the fifteen small businesses because.
My guess is a lot of more benefiting from certain.
Government programs.
And you know it's really interesting because I'm I'm benefiting from very few government programs -- any.
And I certainly was invited.
Why do you think you were not invited I mean.
You'll probably get a lot of taking advantage of the need any special go to programs I -- that's quite yet.
And what -- -- all seriousness is that you know he doesn't want his special interest program taken away -- you know people don't want their taxes to go up we're looking at this huge.
Divide between our bills and what we have to pay.
And sort of no one wants to put something -- what everybody wants someone else to put money into that hole and fill it up but they want to keep.
You know -- -- -- off to decide if you were at the White House today what would you have told the president to do about the fiscal -- crisis.
You know look.
Look listen and the -- -- sort of incentive programs.
Like Mikhail took advantage of -- never heard of that particular.
Credit right but.
In my mind all these credits and sort of incentives you create frontrunners to to do -- -- -- do is is really pretty meaningless it's like.
-- on the deck -- deck chairs on the Titanic.
The real fundamental thing here is the tax rates going up.
OK and and that's that the real huge issue.
It's it's gonna -- disposable income.
Four.
It's gonna really hit small business owners very hard because most small business owners have passed through entities like escorts analyses.
And we get hit with sort of increase taxes so we literally make choices and decisions have been hiring new people.
And putting they're giving -- the government will now have a choice.
We we simply just don't hire.
So it's it's we're getting hit on both sides by this increase taxes and these incentives -- -- figure really material in the long term.
Yeah your taxes are gonna go up so that's gonna mean that you have less money to invest in your business to buy equipment or hire people that's the bottom line.
Are -- big as some customers have less money yes that's right that's also important thank you so much coming on the show we always like to -- All right let's -- and I --
