Yes thanks Clemson you are correct! In my case we also cashed in every savings bond and annuity and IRA in order to keep my people in a job over the winter and when times were tough. They are worse now than ever I couldn't afford help if they worked for minimum wage.
What annoys people like me when someone like the president say what he did is the government is a small businesses enemy and I dont mean that lightly. We pay lots of fees and taxes that the average person is unaware of.
If anything the government make it very hard to survive with a profit. Work comp for instance is not an employee tax, unemployment insurance is not an employee tax it goes on and on we have OSHA you name it costs of doing business.
Mr president doesn't know what a hard working person is he couldn't even find where they have been he has never had a real job and doesn't know what work really amounts to.
For instance: My wife cleans houses and a couple big offices after hours and weekends when the hourly and salary people are at home etc as her self employment and was a waitress all her life isn't one now but she irons every nite including weekends she puts in every bit of 80 hour weeks no exaggeration.
When she last worked as a waitress just a few years ago she had to pay 8% of her gross tickets as a tax. Now think about that......she was getting $2.50 an hour per shift and paying the employer to the state 8% of her gross tickets and that was whether she got tips or not (how many of you tip well???) so when the pres says he knows something about hard work I want to spit. She was in the hole at that restaurant more than ahead and she quit she had to. The government is so obsessed with taxing the cash tips etc they are killing the little people I will never apologize for them.
Oh and I am on my 3rd insurance company since this obama care crap started Blue cross got up to $1k a month so I dropped me off and kept her on. I dont even have insurance now all I can afford is 5k deductible 50/50 and I burnt my face and hand fairly badly recently setting a burn pit with gasoline on fire now I cant re-apply for insurance for 6 MONTHS **** with it I am going to wait it out and see what happens and start over I guess.
Oh and I forgot those of us who actually made any money to spare and legally follow the tax code are actually crooks in fact most anyone with money is a crook that is another arrogant statement or stand point.