Cartwright: Absolutely, you should be rewarded for entrepreneurship. Being an entrepreneur is hard enough as it is. Add the government taxes on top of that and it becomes even more difficult. Wonder why businesses are losing their competitive advantage against foreign businesses? Labor costs and taxes. We have one of the highest corporate tax rates in the world. But let’s look at the reality. Most small businesses are LLC or S-corps that are taxed at the individual level. So, they’re paying self employment taxes and individual income taxes on the profits of the business. It adds up real quick. When you have to factor in the cost of taxes, you may work all year and come up with very little once you pay Uncle Sam who’s going to allow politicians in Washington to squander your hard earned dollars. Continue reading →