Perhaps you might address the post instead of offering up personal snark, eh?It doesn't sound to me like you've ever been in business. Or at least, if you've have, you've never seen beyond your front door.
What's wrong with what he said? I've started several businesses, & I see no errors.
Gov't is largely the enemy.
Examples:
1) Let's say you hire a radon mitigation company to put a fan in a basement slab.
There is about $250 worth of work & materials to do the job. But it costs about $500 in government permit & inspection fees here.
2) A friend was notified by his bank that he's eligible to refinance his house with no closing costs, thanx to the new Obama plan to
pay for closing costs to help the down on his luck homeowner. But it turned out that he didn't qualify...he had one late payment.
Obama has a history of creating programs which disqualify the very people he would ostensibly help.
3) Let's say you have a commercial property which is underwater & you can't make the payments. If you work a principal reduction
with the bank, the IRS will treat the amount as ordinary income. Of course, you have to come up with the taxes, but if you had
the money to do that, you'd be making the payments. Deals fall apart & foreclosures happen because the fed applies non-GAAP
accounting rules. A principal reduction should properly be a reduction in basis.
Gov isn't here to help ordinary non-crony-connected businesses....they're here to squeeze all that they can, regardless of the effect.
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