Why Helping Working Families Makes America Stronger
After the Ronald Reagan years, there has been an endless stream of politicians that believe the answer to many problems is to cut funding. In reality, this has the opposite affect from the one intended. When funding is cut, it reduces the disposable income of working families – and therefore, our nation’s consumers livelihood.
If you consider the basics of mathematics, raising sales tax, state tax or federal taxes on income cuts funding and kills job benefits for working Americans. The same is true using basic economics. When you reduce deductions, exemptions or expensing for families, you cut or kill funding for these families and small business owners.
To ensure America stays strong, workers and families need access to funding. The U.S. remaining competitive globally depends on it. Workers and families need to not have their benefits and funding cut by raising any taxes. In a competitive environment, money, capital and people go to where they can save money.
In raising sales taxes – state of federal – politicians cut the funding the middle class needs for their day to day lives. Essentials like health care, diapers, food, phones, gasoline, internet, family planning or birth control, heating, etc. become difficult to obtain. Each time taxes are raised, it also kills job benefits. Even worse, “progressive taxes” reduce the pay checks to all recipients of income.
Where to find business funding
In recent years, small business funding has been on the rebound following the Great Recession. During that period, it was difficult, if not impossible, to find funding. Banks simply would not work with any applicant they deemed “risky”. Now, thanks to the increasing number of alternative lenders, affordable funding is easier and easier to find and secure.
Unlike traditional funding, these options (like a merchant cash advance) do not involve endless paperwork and documentation requirements. Applications can be completed in minutes, and applicants hear back in as little as 24 hours. With a traditional lender, borrowers wait weeks or even months to hear whether they have been approved or not.
In the future, the hope is that funding will become more accessible. The more small businesses thrive, the more people removed from public assistance. As the workforce grows strong, government expenses are reduced. In turn, this lowers the budget and debt making a healthier, stronger America for all.
Author Bio:As the FAM account executive, Michael Hollis has funded millions by using business funding solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.