With Kamala Harris entering the 2024 presidential race, small business owners are closely examining how her potential administration could impact their operations. Shawn Meaike, founder of Family First Life (FFL), voiced significant concerns over Harris’s fiscal strategies, predicting severe repercussions for lower to middle-class Americans.
In a recent interview on “The Big Money Show,” Meaike articulated his apprehensions about Harris’s proposed tax policies. While these policies target high-income earners, Meaike argued that the repercussions would extend far beyond the wealthy, affecting the entire economic landscape and particularly burdening small businesses.
“People need to grasp the far-reaching effects of these significant tax hikes,” Meaike emphasized. “Targeting the top 1% sounds beneficial, but the resulting strain on small businesses and the broader economy could be substantial.”
Meaike elaborated on the challenges small businesses might face under Harris’s economic plans. Increased taxes and regulatory pressures could force business owners to make difficult choices, such as reducing their workforce and scaling back resources, which would ultimately hurt lower and middle-income employees.
He shared an example from a recent discussion with a restaurant owner. “I asked how he’s managing to stay afloat. He talked about having to let go of staff, including valets, servers, and delivery drivers. This trickle-down effect is quite alarming.”
Discussing broader economic issues like wages and inflation, Meaike suggested that without a Trump presidency, these problems could intensify. He recounted personal experiences of financial struggle, highlighting the risks faced by vulnerable populations.
“Big companies like McDonald’s are struggling to draw customers because people can’t afford meals. In tough financial times, people often make desperate decisions,” he noted.
Meaike expressed deep concern for lower and middle-class families, arguing that despite promises of protection under a Harris administration, these groups might suffer the most. Financial pressures and safety concerns make it increasingly challenging for small business owners to sustain their operations and support their employees.
Praising Trump’s potential running mate JD Vance, Meaike highlighted Vance’s business experience and their economic policies. “I prefer to keep my earnings within my family rather than handing them over to the government. I trust my financial decisions more than federal ones,” he said.
Reflecting on the Trump administration, Meaike urged other small business owners and employees to consider their financial health during his presidency. “We need to remember how much better off employees were,” he concluded.
Key Takeaways:
- Tax Increase Concerns: Kamala Harris’s proposed tax hikes could place a heavy burden on small businesses and the broader economy.
- Impact on Small Businesses: Higher taxes may lead to layoffs and reduced resources, adversely affecting lower and middle-income workers.
- Economic Outlook: Without Trump, the economic situation might worsen, exacerbating inflation and financial struggles for vulnerable populations.
- Government Trust: Entrepreneurs like Meaike prefer to manage their finances independently, citing better outcomes under Trump’s administration.
- Potential VP Pick: JD Vance’s business background and economic policies have garnered support from business leaders.
