I'm Joe the equities analyst and my wife is Joann the new small business owner who put her life savings on the line to start a residential cleaning business. She is in the cross hairs of several changes proposed including tax rates, healthcare mandates and increases in the minimum wage which will drive up what she has to pay her employees (she pays a nice wage but if folks get paid $10+ an hour minimum wage to sit at a quickie mart cash register, what will she have to pay them to clean houses...$20?).
We're the family that will be considered "rich" even though most of our money is channeled back into the business to grow it and we have 4 teenage daughters to put through college as well. We figure with all the overhead and costs, the business will have to generate almost 200k in revenue just to spin her off a modest "salary".
I suspect that what may happen will be that we may be forced to fold the business or find a buyer and 13 people may lose their jobs.
That sucks, but it'll probably be wiser and safer for us financially.