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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (430701)10/27/2008 9:05:05 PM
From: i-node1 Recommendation  Read Replies (3) of 1573042
 
"b) Joe is thinking about his future beyond his current $47K/year salary and wants to know if it's even worth pursuing under Obama's tax plan."

He isn't even an apprentice. At $47k a year, he is a long way from buying a business that generates $250k a year of business, much less an income of that. By the time he is in position to do that, the tax code will be different.

You are totally jumping to conclusions about a subject you know nothing about.

It is very often that a retirement-minded employer judges a particular employee, even a low-paid one, to be a prospective buyer for his business. I've seen this happen numerous times. When a businessman is ready to retire and wants to sell his business, seldom can he get substantial cash for it, so the best way to protect his equity is to hand-pick his successor.

Commonly, the retirement-minded employer will be far more concerned with the ability of an employee to capably run the business than he is with how much cash the employee has to pay down.

I've sold a business with little money down but only after ascertaining that the buyer would be able to profitably run the business. I've also sold one where I insisted on a large down payment because I was unsure of the buyer's capability.

You really cannot paint this with a broad brush.
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