As we approach the Thanksgiving holiday season, the Joint Select Committee on Deficit Reduction approaches a looming deadline: by November 23rd, the super committee must provide recommendations to Congress on how to reduce the federal debt by $1.5 trillion. In an open letter, the 22-million self-employed and micro-businesses asked to be kept in mind as the super committee determines which cuts will be made to reduce the debt.
Small business owners and the self-employed appreciate the importance of the task at hand because they must keep their financial books balanced in order to maintain a successful business. Good financial habits are the key to operating a successful business. For those pursing self-employment, there are resources available to help develop and instill the financial habits necessary for getting a business up-and-running.
As the tough decisions are made to balance our books, it is our hope that the super committee will be able to come to a consensus that will alleviate the national debt and work in the favor of one of America's largest economic strongholds -- small businesses. It is essential that our policymakers keep the majority of the small business community in mind as they make important tax economic decisions about the health of our nation -- and do not leave us out in the cold. Providing incentives for the nation's unemployed to go to work for themselves -- and keep them off the unemployment rolls -- will help boost our economy and ultimately reduce the lingering national debt.
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When are we going to dispel the myth of the wondrous and magical small business?