In Response to Lee, In response to friends that vote Republican

Lee, you have misunderstood my words. I do not think anyone that owns a business is a millionaire. Republican, very likely?
Yes I know we need businesses to employ the middle class as much as business’s need the middle class to perform the duties required to produce the products/services.
Employees do share in the losses. I know of no business that when faced with hard times does not cut employees hours, benefits or simply lay them off. So do not tell me your employees are not taking a risk.
As for running a business.
Forty some years ago I quit my steady job and struck out on my own in business. I had a small amount of money saved and a small amount of financial support from family members. I was starting out cold, I did not inherit an already profitable company.
Unfortunately my savings ran dry after about three years. While the business was getting by, the growth anticipated had not arrived yet and the income was not enough to survive. And then there was a strike at General Motors further depressing business activity in my area. Having a large family to support I was searching for a way out.
I met a friend from high school days in a restaurant. Over coffee we were discussing our lots in life. He told me he got his associates degree from the local college and after serving time in the military he went to work for General Motors where he was earning $XXXX a month.
This got me thinking, here I was struggling to feed and clothe my family, working 12 to 16 hours a day 6 or 7 days a week and making less than this guy who worked 40 hours a week…. and he got paid health insurance coverage too!
Wasn’t long before I gave up my independence and went to work for General Motors. I worked for them for near 30 years as a SALARIED employee.
Upon reaching the age of 30 I was asked to sign up for “part B” of the retirement program. A program designed to supplement retirement for salaried employees at GM. At first I declined as they only paid 1 percent interest on our contributions and felt I could get a better return investing elsewhere. The HR man told me “Well, if you do not sign up for this, you will not be getting health insurance coverage when you retire.” Looking back, I should have gotten this in writing, but I trusted my employer. And decided to take the risk of investing at a lower rate in expectation of getting a better return upon retirement.
After a few years of retirement my health insurance coverage was stopped. They gave us all some additional money in our pensions to cover this loss. Today the additional money covers almost 50 percent of my health insurance premiums. And General Motors continues to make massive profits.
This is more personal than my normal blogs and quite lengthy but there is no other way to answer your questions.
In the next few days I will try to address additional points you made in your comment but for now this is enough.
Good Day.
For a complete look at the dialog between Lee and myself go here.


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