How To Jumpstart The Economy – Tax Free Small Bizs
What has impacted my decision on whether or not to start a business is the amount of paperwork involved and the local, state and employer taxes involved.
Its complicated and expensive to start even the smallest business in the real world. The real world of course is different than the Internet world.
The state of business, and in particular, entrepreneurship in the US has devolved into two worlds, the Internet and the real world.
In the Internet world, all you have to do is setup an account with an ad network, put it on your website, generate some traffic and they send you a check.
No licenses, no tax id, no announcements in the newspaper. It took me minutes. Its exactly what millions of people do as well and its created an entire Internet economy that lives off of Google, Yahoo, MicroSoft, AOL, eBay and others. Its the entrepreneurs path of least resistance, which is exactly why most take this route.
If we really want to stimulate job creation in this country, take the same approach to small business with 25 or fewer employees that we take to Internet taxes. Outlaw them.
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cassy on August 6th, 2008 6:22 pm
Whew! Thinking about all the taxes you have to pay for a business is doubful. You just want to start a business but there are lots of things to be paid before you can start a business.
Who ever want to start their business, should think first. Its really not easy.
Matt Bandyk on August 8th, 2008 11:40 am
One problem, though, is that getting rid of those taxes for business of that size might be a huge disincentive for business owners to add employees beyond 25. Over at USnews.com, I have some explanation on my blog:
http://www.usnews.com/blogs/risky-business/2008/8/8/why-getting-rid-of-small-business-taxes-might-not-be-such-a-
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