...BUDGET MESSAGE OF THE PRESIDENT When President Obama took office in the White House, the country was in financial turmoil. The housing market was unstable, Wall Street was crumbling beneath our feet, the automobile industry was near collapse and although I hate to mention it, the massive amount of job lost was a major issue as well. The progress that the county has made from the previous year are that of a stabilized housing market by allowing lenders to work with homeowners to keep them in their homes and the government extended financial assistance to banks, financial institutions and the automotive industry. President Obama has also, created the American Recovery and Reinvestment Act (ARRA) that invested in the infrastructure of the country. The ARRA provided tax cuts to small businesses, invested in health care, education and infrastructure. The issues that the country faces as we move forward include the revamping of the education, the rising cost of the health care system and figuring out how to support and protect democracy around the world while trying to reduce the overall budget. The national debt is major concern for the President moving forward. The educational system is not preparing our students for future jobs and we rank lower than our counterparts with similar resources. The health care system prices are continuing to rise, therefore millions of Americans will not be able to afford healthcare. The President must chose how to cut the military spending but...
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...The Affordable Care Act also known as Obama Care takes affect in 2014. I am an employer with 15 full time employees, paying an average wage of 30,000 a year. Everyone is running around worrying if Obama Care will hurt his or her business. I feel as if Obama Care will not affect me. Employers with 50 or more workers will have to offer full time workers with health care. Smaller employers are not required to offer healthcare but are encouraged to do so through government insurance marketplaces. These insurance marketplaces will be good for small businesses because these firms offer different type of insurances for different for your employees. This helps your company because you can be offered temporary tax breaks. Also these websites will make your company look good because even though you are not offering health care you can at least provide a website for your employees to use. As a small business I can receive a tax credit if you have 24 or less full time employees whose average cost of compensation is less than 50,000. So essentially Obama Care will help you save money if you are a small business. Small businesses should look into Obama Care more deeply. Obama Care may cause small businesses to cut back hours. Reason being is because employers will want to make sure they are staying under the limit of so called full time employees. Some full time employees may have to be turned into regular employees. Even if the business does not make any cut backs they will have to make...
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... Scource: http://www.washingtonpost.com/business/on-small-business/obama-administration-again-delays-health-plan-flexibility-option-for-small-businesses/2014/03/05/238721f2-a48a-11e3-84d4-e59b1709222c_story.html Section 1: This article is about how the Obama administration is pushed back the option of choosing different coverage plans till 2015 for businesses. This delay has major impacts on small businesses. With the administration saying that this option of choosing different coverage plans for the employees of small businesses would be ready by the end of this year it hurts the small companies. Because this option of choosing different types of health plans have only been available to large corporations and small businesses have one health insurance plan with several administration difficulties. Section 2a: This is a moral issue because they are going back on their word. They have stated over and over again how this option of choosing health care plans for small business employees would be available at the end of this year and it isn’t. They keep pushing back the date and it is affecting businesses. Section 2b: The correlation of the moral problem to business is that legislators are manipulating this process. They are the ones that keep pushing back the dates that this feature will be open to small businesses. The legislation keeps telling them one date and pushing them back. It is making it hard for people that have small businesses and support the new plan for...
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...The Business Environment Week 4: Assignment 1 Jeffrey P. Moore Introduction To Business BUS 100 Dr.Matt Keogh July 29, 2012 The American President stated in his speech on May 13, 2010, “So, America’s small business owners -- people like Dave Sullivan -- have always been the backbone of America’s economy” (Obama, 2010). In today’s economy that is seeing all time lows, this statement has never been truer. As we move forward, the impact that small businesses are going to have will become more important in maintaining the economy of the United States and, eventually, in the world. From the many small shops on Main Street to the dot com startups, America’s small businesses have become America’s economic engine and one of the country’s greatest assets. Small businesses have been responsible for creating 2 out of every 3 new jobs. When American small businesses are strong and thriving, the surrounding communities are strong and growing. From the time President Obama stepped into office, he has invested and encouraged the small business owners so they can do what they do best and that is create jobs and economy. Small business is responsible for a huge percent of the businesses that are available to provide needed services to customers and are there for profit; however, they are not the only available resource for certain services. In today’s economy, there are many nonprofit organizations that can provide needed services to the public for much less or at no charge...
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...created to bring a better understanding on how the Patient Protection and Affordable Care Act affect business, government, and average American. Small business owners have historically had a much harder time providing themselves and their employees with insurance due to rising health insurance costs; meanwhile bigger businesses remain largely unaffected due to the leverage buying large group health plans gives them. This problem has only gotten more severe in the past decade. Today, almost half of America's uninsured are small business owners, employees or their dependents. There are around 44 million Americans who currently are unable to get health insurance. The Patient Protection and Affordable Care Act (PPACA,) signed into law by President Barack Obama on March 23, 2010. Several rationales were offered in support of this legislation, including that it would lead to the creation of jobs and the reduction of the federal budget deficit. Everyone is affected by this health care in one way or another. The Patient Protection and Affordable Care Act Consistent with respected economists‟ forecasts, the health care law contains a number of provisions that will eliminate jobs, reduce hours and wages, and limit future job creation. Specifically, the law: * Penalizes employers for failing to offer coverage deemed acceptable by the government; * Imposes burdensome mandates on small businesses, including new paperwork requirements; and * Compounds the uncertainty employers...
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...February 26, 2014 USA Today 7950 Jones Branch Mc Lean, VA, 22108 Re: The minimum wage debate Dear Editor: I was very pleased to read your article about the minimum wage battle. This is an issue that affects so many Americans. I agree with you that President Obama faces a difficult path in his efforts to raise the federal minimum wage. I also agree that the minimum wage increase is well overdue. I understand when you stated that many Americans are living almost in poverty. I once was example of one of those minimum wage workers. In 2009 I lost a well paying job due to layoffs, and I was forced to take a job making $10.50 an hour which was above the minimum wage. Thank God I didn't have any children at that point, Because I barely made it off of that $10.50. I had to adjust my lifestyle, I also had to call my mortgage company to request an adjustment to my monthly mortgage. The mortgage company worked with me, and lowered my payments, until I was back on my feet. So I definitely think that the minimum wage should be increased. I applaud the families that are making it work, and pray that they get the raise that they deserve. It was also great to read a testimony from a minimum wage worker. Alberta Loder, and her struggle to raise her daughter. She simply needed more money hourly to provide simple things like more food, and milk for her daughter. I think that it is a good thing that you provided a break down in Alberta's monthly expenses, so that other people especially the...
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...get their healthcare insurance from their employer may actually be hurt by PPACA. All one needs to do is make the connection that minimum standards for health insurance and broader access to subsidized healthcare will drive taxes up.4 But for those who have a hard time making the connection, the literature supports costs 3 times higher than initially stated by President Obama, and an additional $118 billion through 2023.3 In order to drive home the point of higher costs, look at an example used by Supreme Court Justice Samuel Alito. Justice Alito spoke on the hypothetical typical healthy 27 year old worker who on average consumes less than $900 annually on healthcare services. Under the PPACA that same healthy 27 year old worker will be required to spend more than 5 times that amount for a healthcare policy that gives a low deductable and pediatric services. Two services that a healthy 27 year old normally wouldn’t choose.4 Regulations prevent small businesses to grandfather their health insurance plans, further driving up healthcare spending as small businesses search for new plans.1 When those same small businesses purchase new health insurance plans they are going to find a soggy sandwich in their lap. Effective 9/22/10,...
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...Andrew espinoza ENGL December 5, 2013 Government Welfare Should Be a Priority More people are losing their jobs due to government cut backs or getting injured on the job. If not at fault you should automatically be qualified for government welfare. Should there be drug testing for anyone applying for government welfare? Should families who suffer from government or small business cut backs be able to apply for government welfare? Should families with economic hardship or loss of a loved one be given government welfare? With government cut backs and more families losing their jobs, government welfare should be given to families who cannot afford to support the household during recovery. There needs to be a deadline on how long you can have government welfare if approved by the state government. All government welfare should not be abolished to people who lose their jobs due to government cut backs because the government decides to push Obama care to all small businesses. The small businesses that have to provide proof of medical insurance for their employees means the businesses have to pay more money to the insurance companies. In turn the companies have to make some cut backs to compensate for the money loss. This causes layoffs and families have to rely on government welfare. Government welfare should automatically be given to the families who have got laid off or injured in the work place. The only way to receive government welfare is by passing drug tests and providing...
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...to disagreeing with what president Obama has already proposed. Again so we can grow those industries in a positive way for better income growth for education and substantial for combined contrast for the other side of the isle. Compromise I look forward at taking a look at overall captions and overall outcomes for a commitment so that more jobs will not be cut off and I believe that spending on the revenue side that if congress would include and suggest the total military percentage the i.e. coal increasing the size making it very hard to eat. I think that it is necessary that 18 to 22 year old stop dragging their feet on the ground and take enough topsoil off the top and make more sense about what drives America’s politics because the charts are up and as you know Ronald Reagan signed off on something gas prices where back in the day .5 cents a gallon. I think there’ s traditionally a lot of room an a lot of information missing uncertainty having to face a lot of damage and we as doctors and pastors see a 33% change and that employs about 33 million people in America half of those small businesses however, what happens is the second half of the night is tax and It is insanity in fact, if we increase or raise revenue over time, but the fact of matter is, increasing tax 1.9 trillion dollars the spending cuts what you have. Economics challenges long lines 50 to 70 years cultural projectiles that small business owners represent that this small percentage will be irreverent I think...
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...the founder of Twitter, a guy who knows something about new ideas that catch on with people carrying cell phones. Prior to this, really only business owners could accept credit card payments. A standard credit card machine costs several hundred dollars, and credit card processing companies charge set-up fees and monthly fees (whether you make any charges or not), as well as high per-transaction fees to boot. That’s why ordinary folks don’t own a credit card machine. According to its Web site, the small Square device is free and plugs into the earphone jack, the downloadable app for it is free, there are no set-up or monthly fees, and the per-transaction costs are much lower. It’s secure, it E-mails the receipts, and it keeps track of all your cash and credit card transactions for you. The New York Times calls the idea “beautiful, simple, and a joy to use.” Add to that “disruptive, brilliant, and irresistible.” Disruptive? You bet. Not only is every kid with a lemonade stand--and every Tupperware lady and every cab driver and plumber--now going to be able to take credit and debit cards, big companies like department stores and chain restaurants would be crazy not to switch for the lower fees and free equipment. The credit card companies are not going to like this one bit. What it does is make it easier for customers to pay small business owners such as women with home trunk shows, day care workers, even dog walkers. Many charities who couldn’t afford a credit card machine for...
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...would like to raise exports by small business, however the unreliability of the global market is frightening the enterprise. President Obama would like to help out small businesses by asking Export-Import Bank to rise export funding by more than a third, to 6 billion dollars. With these increases he hopes to double American exports and encourages small businesses to go abroad. It is extremely hard for small businesses to go abroad though when the larger businesses dominate exports accounting for close to 60 percent of the 1.2 trillion dollars in exports. Small businesses are just not as experienced and aren’t able to compete with these large organizations that have already established a presence overseas. (Tozzi) Establishing of Stakeholder’s Problems The main problem with going overseas is the unpredictability of the global market, for example Old Wood, a flooring company owner of only 15 employees out of Las Vegas N.M. attempted to do business abroad and found that it is not as simple as it looks. “In 2008 a theater in Seoul ordered 18,300 square feet of Douglas fir flooring, a job worth $130,000, roughly 10% of the company's revenues. Owner David Old says the buyer passed a credit check, paid a deposit, and made two payments on time. Old delivered the wood, but the final payment of $40,000 never arrived. "I don't think the guy was a crook," Old says. "I think the global economic collapse probably bankrupted him.”” (Tozzi) The problem with small businesses expanding abroad isn’t...
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...Business in the Small Community Paula Vaughan Texas A&M University – Commerce Operating a small business in a small community has many challenges. There are no large marketing firms, boards of directors, or legions of employees to make the operation run efficiently and productively. It is simply the owner, one or two other employees (usually family members), and the products being sold. In the case of some small businesses, there are a myriad of products to increase sales opportunities, and profits. I will be focusing on those businesses within the Choctaw Nation located in southern Oklahoma, and how they serve the citizens within their community. Small towns and small businesses with a large impact. Southeastern Oklahoma is home to 31 towns, or communities, within Choctaw County alone. Most of these have a store that serves as gas station, grocery, hardware, and over-the-counter drug store. In addition they have a mechanic, a small diner, and two or three churches. Most mail is delivered on rural routes with post offices being located in the larger of the towns, or smaller ones several miles apart. In this area small business is a big deal. The people of southeastern Oklahoma are in one of the five Promise Zones identified by President Obama in January 2015. The Promise Zone is “an anti-poverty initiative that provides resources such as grants and tax incentives to help improve conditions in persistently high poverty communities” (Cosgrove, 2015). As one...
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...Introduction There are many pros and cons that have to do with the Affordable Care Act (ACA) and Healthcare Reform (HR). There are many reason why the ACA and HR effects the pocketbooks of hard working Americans. Many people think that all businesses large and small have to provide health insurances for all employees, which is not a hundred percent accurate. Large business are considered to have over hundred employees and small business are to have under a hundred employees. How the reforms effect the big businesses and small businesses can be different in how much the employer pays and how much the employee pays. There is actual penalties that business will be held accountable if they don’t abide by the strict rules set forth. The effects are felt at all levels of income based, the effects are felt more by middle and upper class income with many of these family’s having to pay more for premiums to the lower class income families can’t afford insurance. Large Businesses Most employers have had some sort of the ACA and HR that has effected them financially, many have felt this financially through first of all the penalties they have acquired by not following the health care laws by not either providing the health care at all or not providing the correct level of health care for their employees. The penalties can range from $2000-$3000 just depending on the reason for the company being penalized. The Mandate Penalty ($2,000) applies if an employer does not offer group...
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...Disparate Impact of SOX on Large and Small Firms Andrew Rubin St. John’s University I. Introduction During the early 2000’s there was a series of scandals involving many large, multinational firms. Among these firms were Enron, Tyco and WorldCom, all of whom had been costing investors and stakeholders millions, if not billions, of dollars through fraud. Following the scandal, the downturn in investor confidence was enormous. Looking back, there appeared to be a culture of fraud and deceit inside corporate America that had been hurting the average investor. After uncovering these scandals Congress wanted to take immediate action. It passed the Sarbanes – Oxley Act (SOX) shortly after in an attempt restore faith in the country’s capital markets. Between 2000 and 2002 there appeared to be a new, large fraud every few months being covered in the news. Investors were drawing their money out of the markets and some of the largest corporations in America were going bankrupt. Congress quickly looked for answers as to how this could happen and discovered a myriad of factors. Many factors combined to create a culture where small changes to the financials were overlooked and over time those small changes accumulated into larger changes, and bigger issues. Eventually the once small changes became too large to ignore any longer and resulted in collapse. One major factor uncovered by Congress was the effect of auditor conflicts of interest might be having...
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...Conducting a Business Research RES/351 February 10, 2014 Examination of Problem and Purpose T&W Operations is an information technology and logistics company searching for the most cost effective way to providing insurance coverage to 75 new and current fulltime employees as mandated by the Affordable Care Act. This act requires businesses to provide all fulltime employees health insurance meaning an increase in company costs to organizations like T&W Operations Inc. To concur with a large number of new customer proposals, T&W is now hiring 100 new employees, 50 of them being fulltime associates, equaling a total of 150 individuals, 75 fulltime and 75 part time employees. The company must find the most cost effective insurance plan to provide too all 75 new and current fulltime employees health insurance to abide by the Affordable Care Act requirements. . T&W’s Insurance Costs Increase: The Significance and Solution This significance of the solution is huge because if T&W Operations does not provide affordable health coverage to 75 fulltime associates, the company will pay a tax penalty of $2000 a person minus the first 30 employees, meaning T&W will owe $90,000 annually to the remaining 45 employees who did not receive insurance for a particular time period. According to the online forum www.obamacarefacts.com, “ The Obama Care "employer mandate" is a requirement that all businesses with over 50 full-time equivalent (FTE) employees...
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