We need to get out the message beyond that a healthy business sector pays for government services
Business owners know the power of profits. Being in the black equals the ability to hire new staff, increase compensation for current staff, and invest in growing the company. Positive returns even have the side effect of companies cutting larger cheques for the army of tax collectors.
And, most importantly, profits mean the business will be around tomorrow – and so will the jobs, investments, and tax payments.
But knowledge of the power of profits seems to end there. Just flip on the nightly news, or open your daily paper to see profits under attack. May Day offered a renewed call from “Occupy” across North America…for something. The message about what they wanted wasn’t clear other than that profits are bad, and government needs to take away those profits to spend on a myriad of “Occupy” interests.
What the “Occupy” movement represents is a shocking lack of knowledge about what drives the economy – and how a private-sector strong economy benefits everyone. It’s the same force that saw the HST – and all its job creation and increased government revenues – handily rejected by voters.
Business owners have much to worry about. Whether it’s tax policies, regulations, or rezonings, federal, provincial and municipal governments have a huge impact on the bottom line. We need government to hear a different message when it comes to policy – a message that favours lower taxes and less regulation. And that message must come from more than the business community.
We need to get out the message beyond our own ranks that a healthy, thriving private-sector business community build jobs and pay for government services. And the place to start is with our own employees.
That’s why the Independent Contractors and Businesses Association of B.C. has put together its first in a series of publications designed to help spread economic literacy. Our latest Construction Monitor publication looks at the basics of business profits and the benefits they bring beyond the bottom line.
ICBA’s report lays out the important connections between profits and the public since 1980: both employment and personal incomes have risen and fallen in lockstep with corporate profits. In other words – paycheques and jobs are at risk when people look to government to grab a bigger slice of the pie for the public purse.
The Monitor is designed so it can be posted on any workplace bulletin board in the province – or emailed and shared with friends, colleagues, and workers. Its message can be taken at a glance.
We also show the impact tax reductions and increased profits had during the past three decades in Canada. Unemployment, the number of jobs, personal income, and money for public services were all tied directly to profits in the private sector.
It’s an important message that needs to be shared. You can get a copy of the report online at www.icba.ca – or you can get in touch with us at firstname.lastname@example.org if you’d like hard copies for your staff or your bulletin boards.
Profits – and all their potential – will be stripped away if the business community fails to spread the word that profits are something everyone in society wants to see. We need more and more people encouraging government to do everything it can to keep taxes low, regulation light, and profits high.
B.C.’s future and prosperity depend on it.
- post by Philip Hochstein