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Thursday, October 11, 2012

Biden vs. Ryan: Vice Presidential Debate is Tonight

By: Law Offices of Peter J. Lamont

Regardless of your political beliefs, the debates in this year's presidential campaign are a good opportunity to compare candidates and get a glimpse of how they will run the country if elected.  If you are a business owner, you have many reasons to care about elections.  Not only is your personal life and that of your family's affected by decisions made in office, but the well-being of your business is also at stake.  Here are at least three main topics to which you should pay close attention to help you vote in November.

This might be the most discussed and highlighted issue of any election.  Should the wealthy be given tax cuts?  Should they be taxed more?  How will businesses be taxed on their income?  Where do corporations fit into this?  Pay close attention to the candidates' answers and keep putting these in terms of your organization.  Try to see into the future and determine exactly what each tax policy would do to your profitability and current annual revenue. 

If your company has more employees than just you, you will want to pay attention to this one.  The benefits you offer to full-time workers will change depending on which type of healthcare policy wins out.  Come January 2013, your responsibility to provide these benefits may be different than ever before so take notes.

Social Security
Maybe you offer pensions to your employees or maybe not.  Either way, my guess is that you plan on one day taking what you have made from your decades of hard work and retiring.  However, having enough money to retire is not as easy of a problem to solve as it used to be.  With social security's future looking unstable, focus on how the candidates plan to take care of those heading into their "golden years."
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