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Small Business Preps for Cliff

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  • Description

    FBN's Jeff Flock reports from Mr. Transmission, which is bracing for fiscal cliff tax hikes. .

  • Duration 2:11
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Two weeks left and no deal in -- small business owners across the country here planning ahead of the clip.

And our Jeff Flock is live in an auto repair shop in bowling brook Illinois Jeff.

Mr.

transmission of one of the franchises around the country and these are small businesses they don't make a lot of money I wanna get their -- handle real quick as I look at the transmission being repaired as we speak.

From barb Moran good -- is the president CEO of -- -- family company issue franchise all sorts of auto repair you deal with these small business owners I ask you first which got a report today.

That speaker Boehner is willing to increase above a million dollars instead of -- 250000.

You like that but.

If I don't say -- I like it but it's certainly better that means that they're actually listening to small business or allowing small business to come to the table because.

Most of us that are small business are not making over a million dollars.

And we but to fifty and that is something that is possibly what we could make you know.

Tell me what you're doing right now we should prepare and first of -- what's your biggest fear you get a deal or you get a panty.

You don't get a dealer you don't get a Q how I would say don't get a deal and then get a bad deal.

Those -- -- -- fears that we would have and we would have to take can now make sure that where.

You know saving and putting taking less money into the technology and marketing -- and -- already done the math -- what the tax increase would be if you don't get a deal it's a huge hit for an what's the impact.

The impact well.

Basically you it was would be -- 9% increase.

And taxes and Newton small business says.

They are -- corpse or LLC's.

And they're taking during that profits and actually doing -- passed through to their to income and maybe not all of -- is actually.

Caches it and east to stay in their business sense as so that they can grow.

It should not be all taken out neither put in their pockets are -- in the government's pockets -- -- appreciate it very much small business by the way 65% of all the new jobs created small businesses.

This is where the rubber meets the road or perhaps the transmission.

Beats the crank case.

All right good car metaphor there Jeff Flock.

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