I am writing in response to the guest commentary by Ron Laughery on Tuesday October 26, 2010. He asserts that anticipated tax burdens will discourage entrepreneurs from starting new businesses. I am also an entrepreneur with a small company and I just don”t see it that way.
Mr. Laughery tells us that he started a successful company, sold it and now has more money than he and his wife will spend in their lifetimes. I’m guessing that any entrepreneur would jump at the chance to be in the 49% tax bracket and end up, at age 56, with enough money for the rest of their life – that is a wildly successful outcome. In fact, most young entrepreneurs starting out are actually just glad to make a reasonable living from their enterprise.
As for being discouraged from starting a business in America, I wonder if Mr. Laughery considered how the government helped his business succeed. Let’s start with the obvious. He had 100 highly educated employees. Did any of them attend public schools? How did he and his employees get to work? Did they drive on highways? Did Mr. Laughery take business trips? Did he fly on planes controlled by the FAA and made safe by the TSA? Was he able to protect his intellectual property by registering patents and trademarks? Did he ever have to seek redress of grievances in a court of law? Was he able to transport goods using ships, trains, trucks? And then the less obvious. Did he ever loose employees to a cholera outbreak? Thank you to the CDC. Did he ever call on law enforcement for assistance? Did he have to hire a private security detail to protect his family or employee’s from being kidnapped for ransom? Where his employees able to get good food that didn’t make them sick? Are his employees able to retire even though they don’t have a company to sell? Will Mr. Laughery be collecting Social Security and Medicare? I could go on and on. I ask you to consider this: if you don’t want to start a business in the USA then where?
While nobody relishes paying taxes and our system is certainly not perfect, I believe we are getting a pretty good deal for our money. I’m not mad at the government. I am grateful for the opportunity to live and work in this great country and that is what I am going to take to the polls on Tuesday.