How’s the economy really doing?
By David J. Haas CFP®, June 10, 2016
I am writing this post on June 10th and we are close to 1/2 way done with the year. So how is the economy really doing? I’m not talking about the markets. They tend to have their own schizophrenic rhythm. I’m talking about main street. There are some statistics we can look at, but first how about some anecdotal evidence. My apologies if you can self-identify in the stories below, but I assure you no one else will be able to identify you.
Stories from Main Street
There is a CPA I know who I talked to yesterday and I asked him how its going. “Terrible” is what he said. “Taxes and Regulation are killing business.” “Everything is just so hard to do.” He seemed to be very pessimistic and I assume he is hearing some of that from his clients. After all, a CPA who handles small business really has a good idea of how his clients might be doing and might have a good handle on how Main Street is doing. It’s certainly true that regulation and taxation are big factors with small business and its not surprising that a CPA’s clients are complaining to him about it. Tax and regulation has definitely gotten more difficult and expensive to navigate. I see that in my own business.