What small business owners care about

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Since the mayor's office still insists that any business-tax reform ought to be revenue-neutral, and since he and other continue to talk about the myth that a payroll tax hurts job growth, I found the latest Bank of America survey of local small business owners fascinating.

Here's what the survey found: Small business owners are concerned about (1) the cost of healthcare (2) access to credit and (3) finding qualified employees. Local taxes aren't even on the list.

Now, if you ask almost any business operator whether he or she would like to pay lower taxes, most will probably say, sure. And I agree that a gross receipts tax is a better way of spreading the burden around. But the notion that slightly raising business taxes would hinder job growth in any significant way isn't supported by reality.

In fact, if you used higher taxes to improve the schools (and thus the education of the future workforce) it would do more to keep employers from leaving San Francisco than cutting taxes. If the state of California went to a single-payer health-care system -- dramatically reducing the cost to employers -- it would do more to attract jobs to this state than all the tax cuts in a Republican's wet dreams.

And if Bank of America and Wells Fargo would start loaning money to small businesess, you'd see almost immediate job growth.

How's that for a Small Business Week agenda?

Comments

businesses. It is quite specifically not for revenue enhancement since the objective has to be "revenue neutral".

So it would be really helpful if you focused on the job in hand, and not some enntirely different topic that is outsdie the scope of this exercize.

Small business doesn't have "high taxes" as its number one beef because, right now, they aren't too high. But if they were made high, as you demand, you can bet there would be a chorus of dissent.

Repeat after me three time: "You cannot tax your way to prosperity."

Posted by Guest on May. 17, 2012 @ 11:17 am

You forget that the US *did* tax its way out of a depression in the 1930s, by using the taxes to fund public works jobs. Puh-leeze lose this idiotic mantra, "conservatives".

Posted by Guest on May. 20, 2012 @ 8:07 am

"You forget that the US *did* tax its way out of a depression in the 1930s, by using the taxes to fund public works jobs"

You mean the Depression that lasted ten years, longer than any other country?

Yeah, that worked well.

We are about to relive 1937, so you can have your own lesson on how well those policies worked.

Posted by Demented, Yet Terribly, Terribly, Persistent on Nov. 21, 2012 @ 4:55 am

Part of the point is to deal with the money the city lost when the old payroll/gross receipts tax was challenged in court. That's at least $25 million  a year.

Posted by tim on May. 17, 2012 @ 12:23 pm

It may be part of your point, and in fact liberals have been whining about that forever.

But it is unequivocably NOT part of the point of the exercize here, which is forward-looking, not backward-looking. And dealing with equity, not resentment.

You keep making the mistake of trying to substitute your own agenda with the official one. Stay on the topic.

Posted by Guest on May. 17, 2012 @ 12:28 pm

First of all, I work at Wells Fargo ... I want to point out that the bank IS lending money to small businesses. In fact, for the first half of the federal fiscal year 2012, Wells Fargo is the #1 SBA (7a) lender in the country ($548 million), in California ($161 million) and in the greater Bay Area ($49 million).

And for the entire 2011, the company approved a record $1.2 billion SBA 7(a) loans to America’s small businesses.

We are San Francisco's hometown bank and are proud to be the main sponsor of San Francisco Small Business Week which is taking place now: http://www.sfsmallbusinessweek.com/

I encourage small business owners to attend to learn more about how to strengthen their businesses.

Posted by Ruben_P on May. 17, 2012 @ 12:59 pm

got creamed in the subprime fiasco because of Wachovia.

But it's been a while since either BofA or Wells were a hometown bank. BofA now has its HQ in Charlotte, and Wells in the former Banc One HQ in Minneapolis, although I believe they are notionally in South Dakota.

Posted by Guest on May. 17, 2012 @ 1:03 pm

I saw the biggest pothole I have ever seen in my life on Fillmore Street today - wow.

Deadbeat mom Hayes-White will collect $10 million in pension benefits - talk about your 1%!

So we need to give City employees more money so they can go from the highest compensated City employees in the United States to the highest compensated in the United States.

Exit question, are you that naive to believe that more tax revenue to the general fund results in improved services for residents? Ever heard of Muni? Is there an SEIU stamp on your forehead?

Posted by Guest on May. 17, 2012 @ 2:24 pm
Any

Seems to me like Tim and those who respond should focus on public officials' accountability more than anything else. A real score card with BOS votes and results.
>>>> 1% -ers - I say good for them - we all hope to be 1% someday. Equality? Where?
Why pretend SF is this place where things ever are equal, going to be equal or even be - remember HOPE - it comes with hard work and commitment to eachother. Simple solution to budget - make cuts.
SF is a tourist town and playground for the rich from old money to .com-ers.

Eric Mar is a good example here of someone getting "his" and then forgetting his hood. I live in the Richmond - we need a train - not another 38 bus.

Yes, and finally---- repair the roads, collect the trash, provide jobs - productive jobs - for anyone that is capable - so many City employees and contractors seem to "live off the City". DPU & R&P is a joke. Look at Lincoln Park golf course. Look at many roads including Geary Blvd. Muni is poor - 45 min to get downtown (unless you are next to downtown)

Face it - this City is run by a watered down form of legal corruption. No wonder why people don't vote - there is no more HOPE - like, I make a difference.

This 8 Wash is progress but they should kick 50 - 75 MM to the Housing development fund so we can home people who can not afford to live here.

Thanks - I wrote because the dialogue before compelled me to do so - seems like we're all wasting out time..... ;) enjoy the City

Posted by Guest on May. 17, 2012 @ 3:55 pm

Yeah it is very useful information for businessman.

Posted by money rates on Nov. 20, 2012 @ 11:19 pm

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Posted by About Interchange FX on Nov. 20, 2012 @ 11:49 pm

No doubt it is very wonderful article. It is really very helpful for businessmen.

Posted by letterheads on Nov. 21, 2012 @ 1:10 am

I think if taxes are being channelled to the right avenues then it is perfectly fine to maintain/increase them. If the business owners can afford to pay more, why not? Afterall, it's your own country's community that you're helping. This article shows a fine example of business owners who are barely even affected by taxes. They are more concerned over more crucial issues like healthcare and credit availability. The government should instead look into these concerns which have a higher possibility of promoting job growth.

Posted by Fred on Dec. 27, 2012 @ 9:24 pm

Really great advice. Spot on.

Posted by printed letterheads on Jan. 24, 2013 @ 11:14 am