Hawkeye Review: Iowa Legislative leaders slap small business owners across the cheek today...
Excerpted from this post at Hawkeye Review
Is this the beginning of the end for many small business owners? Iowa
Democrats have proposed the elimination of federal deductibility on
Iowa income taxes. Making matters worse, while in the midst of severe
economic conditions that directly resulted from two years of fiscal
irresponsibility and massive spending increases in our state's budget.
If you're not a small business owner as I am... Let me walk you through
a couple principles that truly govern the success or failure of Iowa's
economy. 1) In business, it's all about percentages. I know of
several business owners who are perceived to be "millionaires" by
many, who in fact are simply living on the 5% margin that remains
after capital expenses, supplies, payroll and taxes.