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Suggest who benefitsDashboard: What Does the Trump Chaos Mean for Small Businesses?
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Suggest questionThis week, John Arensmeyer, CEO of Small Business Majority, assesses what he sees happening in Washington. Arensmeyer, who recently took a group of business owners to Capitol Hill where they shared their concerns with Democrats and Republicans alike, says the chaos and uncertainty President Trump has unleashed are a disaster. Along with the tariffs and indications that the economy is slowing, Arensmeyer notes that the proposed cuts to the ACA and Medicaid -- while not generally seen as a business issue -- will have a bigger impact on small businesses than many realize. Plus: with the conversation about renewing the 2017 Trump tax cuts gaining steam, Arensmeyer makes an appeal that will surprise some to scrap the 20-percent deduction for pass-through organizations. He notes that 73 percent of the deduction’s benefits go to just 4.5 percent of pass-through businesses. Instead, he proposes creating a standard deduction that would help far more small businesses.
About 21 Hats
The proponents of employee stock ownership plans can make them sound like the greatest thing ever. A business owner can take a big chunk of money off the table—or even all of it—while still getting to run the business. And there are some pretty great tax breaks. Oh, and it will also solve income inequality in America. On the other hand, if ESOPs are so smart, why are there so few of them?
Jim Kalb of Triad Components Group in San Diego and Jeff Taylor of Crafts Technology in Chicago have both implemented ESOPs. Jay Goltz of the Goltz Group in Chicago has reached his 60s without a succession plan, and he’s considering his options. In this 21 Hats Conversation, you get to listen in on a street-smart discussion of the pluses and minuses of ESOPs from the business owner’s point of view.