Everyone loves to bitch about big business and in support of small business. I for one am glad for big business.

Large retailers - Costco, Amazon, Home Depot, lowes. Wal mart are A+ quality corporate and public citizens. Not one fleeced any consumers in the face of hurricane irma.

All the small business I deal with - my fence guy, my landscape guy are out there hosing me on hurricane damage.

I am glad I don't have to deal with any mom and pop retailers - their pricing, return policy and customer care would be crap. I am glad us retail at least has consolidated.

Mike

Thats a 2 edge sword Mike.I like to support small business,hell I am one as well + I don't fxxk my customers.I don't steriotype but when I first went to business I got a piece of advice from an older Jewish man of my aquantance,(+ I listen to Jewish business men when it concerns money).He told me that competition is good for business.After hanging my own shingle for 40 years,he was right.

What I do not like about big business is the fact they have employed a whole bunch of lawyers to evade paying taxes.

They pay very little, in comparison to a self employed individual.

Not long ago, I was reading about a self employed man in England, who somehow messed up his tax returns, and was sentenced to 6 months in jail.

In teh same paper, discussion is being made about why Amazon, with a turn over of several billions, is paying hardly any tax!!

The funny thing is, those who are working hard to avoid needlessly paying Federal taxes are FOLLOWING the F'ed up tax law that Washington created. Over taxation, globalization, and an anti-corporate, anti-wealth attitude in Washington hasn't helped either as many big corporations left the country either through inversion or simply closed their doors.

IF we can get sensible tax code revision/replacement, address repatriation of offshore cash, and stop attacking wealth and job creators through moronic regulations, we MIGHT have a chance at more evenly distributed federal revenue generation (fair taxation) while creating massive economic growth and job creation. One thing is for certain, we can't carry on like this forever...

Opus1, you nailed it,

100% Opus!


.

Big bizness has the edge over local mom and pops because of their money and purchasing power plus ads. OTOH, call a "team" of Lowe's or HDs installation experts and tell them you have a problem with your leaking AC or some similar emergency. Locals will often drop everything and do all they can to help.
You may not know them by name, but local businesses are your friends. I try to support them as much as I can.

I totally agree Opus.In my own case,this year I changed to a LLC because I was tired of paying more taxes than I should due to details than any CPA could figure out.We DON'T need 2 sets of rules;but since that seems to be the order of the day,I want the same break the big boys get.I have for years been pissed on the inequality of the status quo. Althoug I don't like it,I accept its reality. Gato,I traded for years at the Western Auto on the square in Georgetown when their prices were higher than others. But when Home Depot moved into town (along with the other transplants) there it went. I look at the bottom line as well but we need to remember that that in not the only consideration.

So when Big Bo stores move in and the local, Mom and Pop stores go out of business, that is a GOOD THING?????????

Back in the 80s I tried to hang with the mom & pops until there were no more mom & pops. Now the "mom & pops" are companies like Best Buy, Home Depot, Lowe's, Cabela's, Macy's, JCPenney, Sears, etc. The 1,000 lb. Gorilla is Amazon. I've resisted Amazon until this year. It just stops making sense at some point to spend more money and time to support a "mom & pop". I can drive from McKinney to Mesquite to support Dickson Bros., I did for four years, but what's the point? I burn gas, and an hour on the road, AND pay 20% more for a similar or identical product. OR, I can wait a few days and get it delivered to my front door for way less. That is the definition of a no-brainer.

Retail and Restaurants are disasters waiting to happen. I want none of them, in any form.

Opus1, that pretty well sums it up.

Evolve or die.

Pretty much covers every aspect of life on this planet.

True that. I have a sheet metal company + it is a dying trade. There is so much automation in the industry now that we few are being replaced by someone that only knows how to push a button on a coil line machine but has no concepts of the math involved in laying out physically a geometric equation.My kids don't care about my profession;they are successful in their own.It does seem a shame to me though that a skilled job dies because of automazation. When we take intelligence out of the work force,who truly benefits?

Big business has its place. That said, I go to local hardware stores to get stuff that Lowes and Home Depot won't stock (and stay to buy stuff that they do). If they go down, there isn't anywhere to get the odd nut or bolt that didn't come from China.

And the chain stores in the sporting goods arena don't bother with Eley or Lapua, not enough volume. Hence the mom-and-pop rifle shops are the place to go.

quote:

Originally posted by Opus1:
The funny thing is, those who are working hard to avoid needlessly paying Federal taxes are FOLLOWING the F'ed up tax law that Washington created. Over taxation, globalization, and an anti-corporate, anti-wealth attitude in Washington hasn't helped either as many big corporations left the country either through inversion or simply closed their doors.

Tax law doesn't come from a vacuum, it's promoted by guys who need a little extra something done to pass costs to someone else and paid for in campaign contributions.

quote:

IF we can get sensible tax code revision/replacement, address repatriation of offshore cash, and stop attacking wealth and job creators through moronic regulations, we MIGHT have a chance at more evenly distributed federal revenue generation (fair taxation) while creating massive economic growth and job creation. One thing is for certain, we can't carry on like this forever...

There was a moratorium for taxes on repatriated cash in 2004; it didn't exactly unleash massive domestic investment as there wasn't a lot of that repatriated cash left after dividends and stock buybacks. What would make things any different in 2018?

quote:

Originally posted by Crazyhorseconsulting:
So when Big Bo stores move in and the local, Mom and Pop stores go out of business, that is a GOOD THING?????????

Every time a big box store opens around here, 20 other businesses open in the immediate area.

You don't live in rural north Texas either.

Unlike some places, small towns over a good sized chunk of Texas are dying because the local businesses can not compete.

The sad part is, and it is the most TRUTHFUL part, Texans and Lora and I can be and are just as guilty, is people that live where we do shop locally as best we can but the number of stores is limited due to the lack of business because people simply find it easier to drive 50 miles one way to a town where there are big box stores and better choices of places to eat.

Some folks around here will even make the 110 mile trip into Fort Worth for a Night On The Town, spend the night and drive home the next day.

As one put it, it is a double edge sword. The reality is that one must progress his business or it will die. Eventually, the majority finds the best bang for the buck.

quote:

Originally posted by Jason P:
As one put it, it is a double edge sword. The reality is that one must progress his business or it will die. Eventually, the majority finds the best bang for the buck.

Correct, and all those big businesses, were once a small business, that became highly successful.

And don't forget the internet. When I lived in the wilds of WVA, I did a lot of my shopping via the internet. Order it one day and a couple of days later, a little brown truck would come chugging up the dirt road I lived on.
Walmart is trying to become the mail order house that Sears was 50+ years ago.

quote:

There was a moratorium for taxes on repatriated cash in 2004; it didn't exactly unleash massive domestic investment as there wasn't a lot of that repatriated cash left after dividends and stock buybacks. What would make things any different in 2018?

Well, it really wasn't a "moratorium for taxes", the rate on returned cash was 5.25%. Even so, it brought in over $300 Billion to the US economy. Better than letting it sit in a Swiss Bank.

Currently estimates are that well over $2.5 TRILLION are held overseas, a bunch of it by the computer giants, especially Apple. They are simply doing what is best for their shareholders and saving paying taxes. As mentioned above, the US tax system desperately needs real reform. Maybe, just maybe, Trump will get something done. Let's hope so.

I have always been that fair is fair.but by the same token unfair is unfair.We all have to pay some taxes,we just want to limit the folks that are stealing the funds.

I finally found a good plumber. So I will give small business a positive rating for a change.

Mike

This year I went to an LLC corp. Last year 3/4 of my tax bill was 'self employment tax'. That is a fine for working.

I do business with both. Who ever can give me the best bargain for my money.

NormanConquest, be careful on how you choose to do your taxes. You pick whether to file as a partnership or an S-corp. If you choose partnership, you still have the "self employment tax" although it is called something else. With an S-corp, if you have the company pay for your health insurance, it is a valid expense from the company, BUT as an owner, you have to declare it as income on your personal return for Federal and State (not FICA). Something Obama decided was a good thing a few years ago. It just creates a higher level of withheld taxes.

They both have their plusses and minuses. I prefer the S-Corp since I can be an employee with a W-2 and don't have to pay quarterly, AND I can change my rate of pay at will depending on the amount of revenue for the period.