Crime, Profits, Taxes: New Poll Shows The Biggest Problems For Small Businesses | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ben Zeisloft.

    Small businesses are concerned about profit margins amid inflationary pressures, as well as issues such as crime rates and stricter tax enforcement, according to a poll released by Job Creators Network.

    The United States met the rule-of-thumb definition of a recession - two consecutive quarters of negative output growth - two months ago as the economy shrank at a 1.6% annualized rate in the first quarter and contracted at a 0.6% pace in the second quarter. According to the poll, conducted through the month of August and obtained by The Daily Wire on Monday, 57% of small business owners believe that the nation is in a recession, while 25% - less than half as many - say the opposite.

    The month of August likewise saw the portion of small businesses that say gas prices have impacted profitability jump from 36% to 46%. Although gas prices have progressively declined from heights above $5.00 per gallon earlier this summer, Job Creators Network noted that "most companies have already raised prices, and they aren't able to do it again."

    The national average price of gasoline was $2.38 per gallon when President Joe Biden assumed office and increased to $3.53 per gallon by the start of the Russian invasion. Prices are $3.72 per gallon as of Monday, according to data from AAA. Biden has leased less government land for oil and gas drilling than any of his predecessors since World War II at this point in his first term, according to an analysis conducted by The Wall Street Journal.

    A recent document from the White House nevertheless pinned inflation and elevated gas prices on the Russian invasion of Ukraine. "President Biden is committed to tackling these immediate challenges, without giving up the substantial economic and labor market gains our economy has achieved," the report said. "And we are seeing significant progress on that front, with a decline of more than $1.20 in gas prices this summer and overall prices in the economy declining moderately in July."

    Meanwhile, the poll shows that 65% of small businesses are concerned about crime and cybercrime - a figure that increases to 85% for minority entrepreneurs.

    Rising violent crime has indeed driven companies away from major cities. Chicago, which endured 797 homicides in 2021 - more than any other American city - witnessed leading businesses such as Citadel, Boeing, and Caterpillar move their headquarters to other parts of the country.

    Roughly 70% of small business owners disapprove of expanding the IRS. The Inflation Reduction Act, which Biden signed last month, earmarks $80 billion to hire 87,000 new IRS employees - a move that officials promised will not target the middle class. Treasury Secretary Janet Yellen, for example, directed IRS Commissioner Charles Rettig to refrain from using any new resources "to increase the share of small business or households below the $400,000 threshold that are audited relative to historical levels."

    Yellen failed to clarify that "historical levels" of audits were far higher as recently as one decade ago. Audit rates for Americans earning between $25,000 to $200,000 fell 76% between 2010 and 2019, while those earning less than $25,000 saw audit rates fall by 61%, according to a report from the Government Accountability Office.


poll#162

In what may be the most divisive period in modern American History, even more divisive than the turbulent sixties due to today's lack of patriotism, consider what are the major catalysts causing so much of this calamity of conflict, and vote: What most instigates the division of America, on this day September 20, 2022?

  Racism within our society

  Sex realignment to the detriment of our society.

  Biden /Harris Wide Open Southern Border Policy for the Demographic Upheaval of OUR Constitutional Republic

  Rampant Crime in Democratic controlled cities, and the possible contagion elsewhere

  Covid Pandemic, and its mishandling at the political, and bureaucratic levels.

  The unresolved questions /allegation regarding the flawed 2020 General Election

  January 6th Riot or "Armed Insurrection", depending upon patriotic perspective

  Joe Biden as Divisive Leader; Ineffective and Corrupt Executive

  Failed Education Industry, from an overall perspective, regarding all levels of education.

  Propagandistic Media in complete conflict with the First Amendment's guarantee of Freedom of Speech, and the awesome responsibility of a Free Press..

  "Orangeman Bad!"

  Bureaucracy rushing to a behemoth size, its unjustified expense, and far too often overreach.

  The Weaponized Deep State for political purposes

  A secular ambivalence to all that is real.

  Record number of overdose deaths from opioids and now Fentanyl

  Biden Administration's disastrous Foreign Policy

  Bidenflation /supply chain failure inevitably evolving into stagflation and recession.

  "Ultra MAGA Extremists" freely speaking louder AND LOUDER!

927 total vote(s)     What's your Opinion?

poll#154

Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?

  Yes, the Democrats have a bold plan, yet to be revealed, to save us.

  No, there will have to be a complete undoing of the damage done by these Democrats.

  I can't do simple math, so how am I to understand the concept of basic economics.

1,216 total vote(s)     What's your Opinion?