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hardnox
Advisor

Hillary joins the entrepreneurship cult

http://www.qtweather.com/showImage.php?url=http%3A%2F%2Fwww.cpc.noaa.gov%2Fproducts%2FSoilmst_Monito...

 

The fruits of suspending all disbelief of the neoliberal viewpoint.

 

The Federal government, every state and local one, college and university, public and charter K-12 and probably high end pre-schools yammer on about entrepreneurship.

 

Certainly Koch et al funded think tanks and academic capture have driven a lot of that.

 

The Big Bambis of the cult are the tech heroes, nevermind that that all grew out of public investment in space and defense and the people who ran with it in the private sector were mostly college dropouts who came out of the anarcho-socialist culture and excellent public schools on the 1960-70s Pacific NW.

 

The Desert Tortoises of the cult are every single independent business of every stripe, many of whom probably don't qualify as such but enjoy being told that they are heroic entrepreneurs and that they are way underappreciated, if not with one foot in the death camps.

 

Not that there's a thing at all wrong with running a one or two man family farm or shop and if you want to think of yourself as John Galt, be my guest.

 

Let's skip $B VC funded tech unicorns, which is almost nobody (and probably past sell date) and talk about people who just want to start or grow a business.

 

Anyway, if I was going to start a business (and I might yet, who knows) I'd appreciate help in any basic skills- finance, accounting, marketing that I didn't have but not sure that a degree in entrepreneurship from Harvard matters much. I'd want a reasonable regulatory environment, reasonable taxes etc.

 

The #1 thing I'd want is customers with money. And even in manufacturing or something further up the chain than retail/service, aggregate demand- a high level of economic activity, is essential. I'd prefer a high general wage structure as long as it was universal.

 

There's money in the 20% or so of prosperous urban/suburban America (and also intense competition for it), the 80% that we're desperate to save through the magic of the market and entrepreneurship, not so much. If I started a $9/hr chicken plucking operation I guess it is better than nothing but probably falls a long ways short of the sales pitch.

 

I'd love Single Payer. You'd spend 0 time on that part of HR. If you can't afford to provide health care you're not going to keep your good employees, period. And it levels the playing field. Some existing businesses that have managed to work healthcare in and remain competitive would generally oppose that, and actually under the old system there was nothing better than a good employee with a family member with a disqualifying condition because you had them for life (until you got too many and your rates went up).

 

As far as taxation, I'd like a 0 tax bracket for C Corps maybe as high as $50-100K. A part of the shtick is that entrepreneurs are driven by passion for the business, not high current lifestyle. Well, you can pay yourself a modest salary and retain a big chunk of earning every year. If the business is successful, you will pay a lot of taxes if you sell it someday (half of $millions is a lot more than all of nothing) or if you sell it for stock you'll pay capital gains against a negligible cost basis.

 

I'd probably prefer an estate tax. First, good operators think ahead and seek to minimize exposure. That's a competitive advantage against those who don't. Secondly, if I'm a new business I'd prefer that the next generation of my established competitors only start on first base instead of third.

6 Replies
hardnox
Advisor

Re: Hillary joins the entrepreneurship cult

http://www.salon.com/2016/06/28/clintons_pledge_to_forgive_student_debt_of_entrepreneurs_not_average...

 

Oops, wrong link.

 

Good thing I already deleted the midget porn site from the clipboard.

 

Er, I mean Little People.

bruce MN
Advisor

Re: Hillary joins the entrepreneurship cult

That great public Ed system in the NW in that era also blessed us with Kurt Cobain and Eddie Vetter. Smiley Happy
hardnox
Advisor

Re: Hillary joins the entrepreneurship cult

RE: the comment about the estate tax and planning.

 

An Iowa Bambi family corporation that shall go unnamed (as they are supporters of the site) seems an excellent example.

 

If you expect to have sons/daughters in your business you'd better start transferring ownership to them early.

 

Because, who knows? You might hit the jackpot and it will be too late.

 

In the case of it being too late, they'll still be wealthy, but the gubmint is going to take a pound of flesh.

Milligan Hay - Iowa d:^)
Veteran Advisor

Re: Hillary joins the entrepreneurship cult

Estate taxes are the same thing as corn root worms are to corn plants, and with the same results. Smiley Mad

hardnox
Advisor

Re: Hillary joins the entrepreneurship cult

Yes, but you and the krew here are mighty $350/bag GMO corn plants.

 

I'm just a weed and would prefer not to be shaded out.

 

A whole lotta different ways to run with that metaphor. Is there a Great Farmer who plants these mighty corn plants or do they spring from the actions of an Invisible Hand? And who sprays the weed killer?

 

And of course in the running metaphor weeds are something to be eliminated, but have no defense other than extremely rapid growth and proliferation.

 

Seems to be consistent with your stated views.

Milligan Hay - Iowa d:^)
Veteran Advisor

Re: Liberal Barry Sez....

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