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Boss School by Jay Goltz
Jay Goltz, who has never held a full-time job but now employs more than a 100 people as CEO and founder of the Goltz Group, writes about the tough calls that bosses have to make, the conundrums no one has ever warned them about. Until now.
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August 21, 2008
Anyone Else Feeling Conflicted About this Election?
Posted at 10:28 AM
This election has me tortured. I belong to a business group that consists of seven business owners. Because I'm the lone Democrat, I take a lot of grief. But at our latest meeting I had to confess, "I think I'm becoming a Republican."
Why? Well, McCain's social policies still make me sick, scared, and disgusted. And I still can't believe that STUPID Paris Hilton ad that he approved. But I also can't believe how naïve O'Bama is. His "tax the rich" routine is going to cost me big money -- money I don't have because I heavily re-invest in my company. He clearly doesn't understand how small businesses work.
Like many other business owners, I have a Subchapter S corporation. That means I pay taxes on my income regardless of whether I take it out of the company or reinvest it in the company. If he raises taxes as promised, it will mean I'll have to pay even higher taxes on money that I'm not seeing. That will force me -- and a lot of other business owners -- to take out more and reinvest less. That's how you strangle a business -- and ultimately the economy.
I really don't know what I'm going to do on Election Day. I think I'm having an identity crisis.
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what identity crisis....?......sounds to me like you were always a republican hiding behind a little white guilt maybe.....?......
either you are dedicated to finding a way to a better society as a whole or youre not......either you are concerned about the social health of your country or you are more concerned with your individual bank account...no judgment here....i myself dont think that a better society will overwhelmingly come through either the democrats nor the republicans......some choose to play the lessor of two evils game but even that is shortsighted.........so if all of this time and energy spent is not about creating a better society holistically......then what is it about.....?...if wanting to--needing to live in a better society is not at the forefront of ones thoughts each and every single day....then what is....?.......the answer to those questions will resolve your feelings about your so-called "identity crisis." roll with it....its that simple.
McCain is - whether the GOP wants to admit it nowadays - a conservative democrat. A "feed our poor and bomb the enemy" sort of democrat.
Such a democrat doesn't have a place in the Marxist-infested Democratic party of today.
Don't feel too bad voting for McCain. Most of the life-long Dems that I know have told me that they're "secretly going to vote for McCain".
Identity crisis? Why identify so strongly with any party (they can and do change their platforms)? Instead, identify with ideas and sensibility, and vote for the person who most closely represents your thinking.
Your implementation of logic and reasoning will lead you to a conclusion. If you act against this conclusion, then you may have just betrayed your own conscience.
Keep it simple. Follow the truth wherever you find it.
Jay,
I too have a problem with the upcoming election. Four more years or is Obama really a good change? McCain is a different leader than Bush so four more years is a bit misleading to me; however that is what is being said at the moment.
I'm an artist (I enjoy your business advice in PFM), and my own framer - I hate spending too much money on materials and taxes. I get angry that I am not able to keep more profits from my talent and I really feel the art industry in general is in trouble. My concern is that Obama does not support business as much as McCain. However, McCain is a weak speaker and I fear does not have the leader persona that we all need in order to believe in our president.
As an artist, I am outnumbered because I choose to be a republican. So I can understand your position in the group as being the only 'dem' around to express your views. My problem with Obama (and what may ultimately drive my vote) is that I fear a socialist economy. Hard work should be rewarded - people need to go to work - taxpayers should not fit the bill for every program designed to empower, support, and maintain economic status quo. I fear Obama supports too many 'empowerment' and 'marxist' viewpoints and I NEVER believe a politician when they share their plan on raising or maintaining taxes. Programs cost money (ie TAXES). McCain is not a 'program' leader and I tend to believe in the policies of the party. Congress is the problem - not Bush alone!
In so many ways this election has become exactly what it was promised to be, a choice between two very capable candidates. The thing is that they are proving now that they are equally capable of discrediting each other. This has become one of the most convoluted election cycles I have witnessed.
In many ways McCain vs. Obama has become a battle of ideologies. If we raise taxes we continue to slow the economy and our ability to do business. If the Federal Government continues to spend the way it is; our international credit will worsen and the dollar will be weaker, effectively doing the same thing. But despite who you think is going to be more pro-business, there are major obstacles in the way for both candidates. When taking a look at the make up of congress right now, the Democrats and Republicans are stuck in a stalemate of sorts.
This is likely to change in November, but there will still be enough Republicans elected to cause problems and further philabuster our government unless one of these guys can work with both sides to accomplish something worthwhile. And at this point I feel like the roulette wheel is spinning and the country is either going to stay home or close their eyes and just pick one. And we won’t know if we made the right choice until 2012.
Welcome to the dark side. Now you know our dirty secret: we've discovered that Marxism strangles businesses.
We as a country have become like sheep,not lions. We depends on the shepard to provide us with food and shelter from the storm and protection from the wolves. We grow our coat and are happy.Once we get fat and happy we're taken to slaughter.The lion provides the food and protects. We have become like sheep, not lions. Unless we wake up and do something about what's happening around us locally and nationally, we're headed for the slaughter. The answer is in our senate, congress and local officials. I don't feel either canidate is the one to lead this country, McCain is just the lesser of two evils
One problem is that it has been a very long time since the country was ruled by Democrat leftist social ideology in Washington. Tolerance sounds nice, but the left is anything but tolerant. Their carelessness about human life extends into other areas beyond abortion.
I remember when US citizens were being slaughtered in the streets and all Democrat leaders would do is blame it on US citizens for not "investing" in welfare programs more. They would release criminals on the streets to victimize more in the name of rehabilitation that never worked but cost unending bundles of taxpayer cash. We paid for our own slaughter. The streets flowed with blood and crime rates always went up year to year.
Race hate and scapegoating whitey, male hate and baiting; along with race riots was a social tool of power the Democrats used when they had power to advance socialism's economic policies (wealth transfer from you to the government). Discrimination and hatred of white males became institutionalized and extreme; so bad the Democrats lost white females!
Remember sexual harassment laws that gave feminists the power to sue and harass targeted males at will, more often than not, unjustly? That business dried up when Clinton sexually harassed female employees.
Elephants never forget.
This election is simple.
1. The next president will choose Supreme Court justices. If you're pro-choice, that rules out John McCain, who is strongly pro-life.
2. Jokes about war are not funny. Even less funny is the idea of more war. If you're against the war, that's strike 2 against McCain.
3. As a small business owner who provides health insurance and competes against many businesses who do not, I'd like to see a health insurance mandate.
If you don't like paying taxes on your income year over year, switch to a subchapter C, which lets you retain earnings in the corporation. That doesn't seem like a Democratic or Republican issue to me. That's an issue of your corporate structure not meeting your needs.
It is a tough one. I'm an independent. I tend toward fiscally conservative (low taxes, pro-business), yet am socially liberal (pro-choice, pro-environment, keeping religious views out of government policy). I'm strongly in the Obama camp because, for me, the issues with Iraq and alternative energy trump everything else.
One major factor for me, too, is that I think Obama will help our reputation with the rest of the world. I think they've had enough of "Cowboy George" type politics, and Obama will show a different face (in more ways than one) to the rest of the world. I don't like that other countries see us all as selfish and self-righteous bullies and I believe they will view McCain as more of the same. Obama has already proven to be popular and he has a terrific presence that can only help in smoothing out our international relationships.
I'm not keen on the tax increase ideas and I shudder at the thought of a bloated government (mis)managing healthcare. I also support offshore drilling for oil, provided it's done safely, as I believe can be done with today's technology. As much as I'd like to see us not use any oil, it's going to be a while before that can happen, so anything we can do to minimize how much oil we're forced to buy from people who hate us is a good thing in my book.
I think Obama will be more proactive in supporting alternative energy initiatives. I think of all the money that's been wasted in Iraq and think about how much more good it would have done when applied to energy research (a lot of which is done by small businesses).
So, that's my long-winded reasoning :-)
To me, Obama just seems to be the obvious choice.
I think the last reason for selecting one candidate over another is our reputation in the rest of the world.
The leaders of these countries make concerted efforts to demonize the USA in order to divert attention from their own failed socialist economies, token military defense, and rampant corruption. In addition, it's become fashionable in elite circles, both in the USA and abroad, to denigrate the USA.
If the USA is doing the right thing, I really don't care what other countries think. The alternative is to do the wrong thing in order to make other countries like us. That's silly.
Reputations can change with a good PR campaign; right and wrong don't.
Mr./Mrs./Ms. Follow D. Truth:
When was the last time you saw truth in politics...especially at the national level?
Can't follow something that I don't see...
I don't think it's fair to say that they're ALL corrupt, greedy, or untruthful. I recognize that there are some who legitimately have an opposing opinion, but that doesn't necessarily make them liars. Too much cynicism is destructive.
Even if a politician is lying to us about a certain issue, we are not without recourse. The truth may indeed be that said politician is a liar and is not to be trusted. Get involved. Vote accordingly.
The point is that if you come to the a well informed conclusion that something is true, don't just vote party line just because you always have done so, you parents did it, or a union newsletter told you to do it.
I travel often. The U.S. has lost the respect of a good part of the world because we have taken a short-term, knee-jerk response to the events of 9/11. Our social policy, economic investment, and military strategy is lacking.
The question in my mind is: Which candidate will develop an intelligent long-term strategy in key areas, and which will follow the destructive policies of the current administration?
The biggest problem I see is either ignorance, apathy and job security. Certainly corruption and megalomania are enormous problems but these are usually tiny and often obvious. The real danger lies with all the elected officials who vote on things they don't read, don't understand, was written by lobbyists and they don't care. Their main concern is not being against a bill with a name like "America Must Energize Really Important Care Act," even if the purpose was to create bigger brother, lest they be painted as anti-A.M.E.R.I.C.A., anti-caring and just plain mean and evil in the next election. Unfortunately, too many of the populous is just as ignorant and will likely punish such disconnected politician.
I travel often too, whenever I hear the Europeans and others offer political and legislative advice for the US, it's usually not in the US' best interest. We must not be too bad of a country or people, the world is buying up US businesses as fast as they can and thousands cross our borders annually, one way or another.
I'm curious how Obama who believes we should not drill here for oil, because "it will take 10 to 15 or 20 years before any oil is pumped", can actually expect us to believe that alternative energy research will benefit us any better in the short-run. Both actions are long overdue and need to occur now.
Julian is right, McCain is essentially a conservative Democrat. But he is the lesser of two evils.
Neither candidate will likely accomplish much of anything. Congress is the real problem and will likely maintain its status quo stalemate for itself and the country.
I doubt that you bring in 5mil a year in income, so you aren't even rich per McCain. Obama has never said he would, quote "tax the rich". What sort of "business" do you have? Your only book on Amazon is ranked 629,000th. I would guess that your income is not at the level that would cause a tax increase under Obama's plan, but there's no way for me to guess what your actual income is. I would urge you to read Obama's plan a little more carefully before you make wild accusations on a website.
This is from Obama's website:
Support Small Business
* Provide Tax Relief for Small Businesses and Start Up Companies: Barack Obama will eliminate all capital gains taxes on start-up and small businesses to encourage innovation and job creation. Obama will also support small business owners by providing a $500 “Making Work Pay” tax credit to almost every worker in America. Self-employed small business owners pay both the employee and the employer side of the payroll tax, and this measure will reduce the burdens of this double taxation.
* Create a National Network of Public-Private Business Incubators: Barack Obama will support entrepreneurship and spur job growth by creating a national network of public-private business incubators. Business incubators facilitate the critical work of entrepreneurs in creating start-up companies. Obama will invest $250 million per year to increase the number and size of incubators in disadvantaged communities throughout the country.
You cant reward the crowd who gave us this past 8 years and a vote for McCain is unfortunatly a vote for them. I voted for Mc Cain in 2000 this time Obama. Rewarding the cedit card republicans (our children and grand childrens credit cards / lowering our net worth etc.) The pigs at the trough wont get my vote
Fact: Planned Parenthood supports Obama.
Fact: Planned Parenthood is a front for increasing abortion clinic's business.
Fact: Abortion is REALY BIG business.
Fact: The world is made up of producers and looters.
Fact: Obama caters to the looters by offering them 'free'' stuff.
Fact: The government gets 'free' stuff to give away, by taxing people.
Fact: It would be unethical, costly, and faithless to vote for Obama.
Let's see - should we vote for a man who showed by actions that he would give his life for the protection of our country and both he and his running mate have stood up against their own party for what they believe is in the best interests of our people & country? Or - should we vote for a man who has belonged to a "Hate America church" for 20 years and sought the politial assistance of an unrepentant killer(to this day) who bombed the pentagon & wanted to do the same to the White House?
It's hard to believe that common sense and morality is absent in so many people of the democrat party! Do not be naive & ignore that evil lives and there are enemies of liberty, freedom, and morality that have found a home in the democrat party and are deceiving so many people with lies & distortions!
Truth in advertising -- I am a liberal.
Ok, I will take on the "tax & spend" liberal cliche, but only if my conservative friends will own up to the "spend & borrow" label. Take a look at the last 8-years. If you are in the upper tax brackets, like I am, it has been a good 8 years from the tax perspective. However -- what about the unmeasured tax -- the cost of the war in Iraq (increased oil, veteran medical benefits, deficit spending eroding the $, etc., etc. (see the Steiglitz (sp?) book. In short, you will get McCain's social policy and the continuation of a failed foreign policy (and I mean globally, not just in Iraq. I have no Idea if Obama can make significant change that will have a positive impact on the
future of this country, but I am sure that Mc Cain cannot.
To add to your conflict -- think about this for awhile -- President Palin!!!!
McCain doesn't get the economy. I don't have any confidence in him or his team. But I do have confidence in Obama and the team he'll bring with him.
This is my fourth business--I'm pretty good at starting companies and creating value, so I at least have an informed opinion. The Republican leadership has led us into record deficits, a huge national debt, a liquidity crisis, higher state and local fees, and a growing poverty class.
As far as taxes, if you are reinvesting in your business, you don't have to be taxed. That's a financial management issue, not a taxation issue. And frankly, I don't mind paying more for a more civil society, if that's what it takes. Part of personal responsibility is civic responsibility, and as the Republican Oliver Wendell Holmes said, taxes are the price we pay for a civil society.
We've had 8 years of recklessness. I really don't want to see another four years of that, and McCain himself has said he doesn't get the economy. Let's give Obama a chance.
disclosure: I'm a lifelong Democrat, love lower taxes, but hate to see what the Republicans have done to America. Give me a single-payer Republican candidate with an actual understanding of the economy, community, and some basic compassion, who will pledge not to take us to stupid wars with no relevancy to national affairs, and I'm there, I'm happy to cross over. But it'll never happen.
We've perverted our system to where we don't really have a choice. One of two will win and either way, most of what they say is just to get elected anyway.
The Democrat and Republican parties are a business in and of themselves and neither wants to fail.
Stop with the ideological rants, "white guilt" comments (yes that means you Mary Ellen), and other ridiculous notions.
My vote will most likely go to a third party and no I'm not wasting my vote. Get rid of the parties, and really rethink what it means to be American, what it means to be human, and what really matters in this life.
Get real people. Adults are acting like irrational children. Drop the ideology and look at what really works.
And by the way, don't count on any long-term plans or real solutions because a four year term limit pretty much means you have to think about your self interest in the short term versus human interest in the long term.
Jay Goltz wrote:
"That means I pay taxes on my income regardless of whether I take it out of the company or reinvest it in the company"
I'm confused about how you are paying yourself. Why would the money you reinvest be exposed to Obama's taxes? That makes no sense to me.
We have an LLC. The money comes into the company account. We reinvest a high percentage. The money is not exposed to taxes. We also pay ourselves, but this is our personal income, taxed at the normal level. We do not need to reinvest in the company out of our private funds, because we reinvest before the money ever gets to us.
Could you explain how you've structured your company?
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