Wa Ex:
By Mark Cafua
I’m a second-generation Dunkin’ Donuts franchisee with more than four decades of experience with the brand. My family immigrated from Portugal to Boston in the 1970s and my father juggled several jobs to make ends meet, including one as a baker for Dunkin’ Donuts. My family invested in their first store in Derry, New Hampshire , in 1980. Since then, we have gone on to invest in 245 locations, employing roughly 5,000 team members.
Over the years, we have supported more than 100,000 team members, many of whom have grown into leadership roles in our business , including team members who have become franchisees themselves. We pride ourselves on being a family company with a “people first” culture.
The last year was difficult for us, as it was for all consumers and businesses, as inflation across the economy reached historic levels. The Federal Reserve’s efforts to combat inflation’s devastating impact by raising interest rates seven times in the last year alone created further devastation and drove up the cost of borrowing for businesses like mine.
As a result, businesses across the country are not positioned for success, and it is clear that adjustments must be made to give owners the tools they need to thrive. The key to creating lasting change and keeping the economy humming through periods of dramatic monetary policy adjustment, such as the one we are in now, is to avoid other, unrelated hardships from falling on our job creators and employees. Arguably now more than ever, businesses across the country need Congress to remedy how business debt is handled.
A recent survey conducted by the National Restaurant Association found fewer than one in four restaurant operators with an Economic Injury Disaster Loan are able to pay scheduled principal and interest payments. Inflation is turning the very loan that was intended to be a lifeline into a burden. You would assume that our elected leaders would support business owners in other forms of financial relief, but, as is often the case in politics, the opposite is happening. more
The middle class is what makes America great. Thats why its being detroyed.
The plan is to move to big-gov donuts.
Big-gov car.
Big-gov food.
Big-gov electricity.
Big-gov loan.
Big-gov house.
Big-gov job.
Everything will be the big-gov brand even if it isn’t marketed that way. To control the populace you must control what they consume, what they eat, what they spend, where they live, what they earn.
Big-gov donuts won’t be allowed to exist very long because they are non-essential. Mr. Cafua would be wise to liquidate all his holdings ASAP and find another country to live in. Get out of the country if he wishes to maintain his lifestyle because otherwise, his money is going to become the property of big-gov.
Have operated a small business for over 40 years. Never borrowed any money, never took a government handout.
I just can’t bring myself to feel sorry for businesses that make bad choices….
So the writer is saying the Economic Injury Disaster Loan, a government program isn’t working for him now and the only solution is more government programs and largesse. With 245 locations and 5000 employees he is asking for tax breaks that will help him and others like him, you know the 1%’ers.
Vote for Chris Christie.
From the article:
You would assume that our elected leaders would support business owners in other forms of financial relief, but, as is often the case in politics, the opposite is happening.
Well I think he found the problem
So…maybe the “belt and road” China thing is being applied here in the US. Make a loan that they know will be difficult to pay back (because they make it so) then the IRS/bankers closes down the biz for non-payment of loans/taxes. The dems probably invented it and passed it on to Xi-the-Poo. A few of the most precarious words ever spit out;
‘We’re from the guvmint and we’re here to help’
First you create the disaster then create the loan.
You take a loan you pay the loan plus interest.
Don’t like the terms don’t take the loan.
It’s easy when you think about it.
Sooner or later the govt will seize savings and retirement accounts to stave off bankruptcy. You know, it’s for the ‘greater good’ and your fair share is everything you own.
“Removing depreciation and amortization from the table”
This is a lot more devastating to the economy then the author states. Or maybe understands. This removes the incentive to purchase capital equipment. In other words I’ll go buy a beater used machine and repair rather than purchase a brand new shiny 250K machine. That’s been a big driver for those purchases, particularly at the end of the year, like forever. I don’t think these idiots realize what they’ve just done. Or maybe they know exactly what they’re doing.
This same tactic was used in 1920-21 to bankrupt farmers. Look up The Agricultural Depression of 1920-21, it’s a carbon copy: the Government Loans the Money to help, the Government Raises the interest rates on the money loaned, the farmers, or the businesses, go broke. It’s the Governments money and they want it back. Simple.
I remember my great aunt telling me the government promised that the income tax would never exceed 5% and that’s why they voted for it. So today, they have fully militarized agents with automatic weapons going after the poor middle class who is getting prison sentences for stupid math errors. The sad part of all this is the people who keep voting in the morons running our country. Before the income tax, the USA earned money solely from import/export taxes and did not have personal or business taxes.
Democrats hate small business owners. They want just a few lg companies that will pay kickbacks.
Then we can be like Denmark.
One brand of everything. No choice.
Govt choosing winners and losers.
““Removing depreciation and amortization from the table”
The more I think about this the more this seems like a direct assault on domestic manufacturers.
Meanwhile all the silver spoon college kids studying “diversity and gender changing” get their loans forgiven.
I’d rather help a business than someone like AOC go to college.
FJB and all his minions.
secession- the only answer