while i admire your persistence and entrepreneurship, your business plan appears to be very deficient if all of your laborers are regularly taking home more than you. the glaring observation is that you are exposing yourself and your family to all of the business risk while reaping a lesser compensation than were you to be an employee
there is no reason for you to be twice taxed like a C corporation when subchapter S and especially LLC forms of establishment exist. i would encourage you to contact the SCORE chapter in raleigh and the SBTDC at your nearest state university to see if they can help you find a way to achieve greater profitability
regarding the availability of universal healthcare, once available, as with other industrialized nations, you will be able to attract a better quality of employee talent. being unable to offer a health plan comparable to the larger competitors places you at a distinct disadvantage relative to hiring the more desirable employees from the available labor pool
I know you mean to make a point and mean no offense, but you are woefully underinformed on my personal situation. I ran my entire business plan (which has largely been accurately executed) by 5 different retired CEOs at SCORE (as I have said, the SBA is a wonderful program). They unanimously approved it. I educated myself heavily on business in general and the particular type of business I have before spending a penny. I chose to engage myself in a franchise, which provides oversight and assistance to make sure the risk was as low as possible.
Year after year, I beat projections by 5-20%. I file as an S-Corp, but it is not freedom from double taxation. It simply separates the filing a bit more and only slightly lessens the tax burden. The lawyers I consulted recommended I avoid an LLC due to the fact that my business has a high physical risk factor and the limited-liability shield is not heavily tested in my state. Hell, my insurance hits the state cap after 7 years in business every single time regardless of the fact that we have never filed anything more serious than an eye flush.
I have watched my competitors go out of business at about a 4 to 1 ratio. In that same time, I have given raises to the guys who get nothing but hard breaks everywhere else in their life.
You misunderstand my point. I said they SOMETIMES take home more than I do. That's because they work hard and my payouts get delayed and taxed and then we get into operating expenses.
I offer better healthcare than most of my competitors. And because we pay it directly and not through a government that can't even educate, provide for veterens, and a thousand other failures, we get the privilege of living in the country with 17 of the 20 best hospitals in the world. We get service on demand at a low out-of-pocket from the best doctors in the world who got their free education elsewhere and came running here to make a real living. We live in the country providing almost all the great medical advances because it benefits them here to do R&D and provide the best treatment.
Those countries pay a fortune in taxes, rely on us for their military protection and get their advances from us. We throw out that system for something this government run by people like Trump because of an idiotic electoral college that is 100 years out of date and not going anywhere and we will see the whole of medicine on a huge decline.
They can do it because of us, not better than us.
Addition: I fully support a better supplemental healthcare program. I'm Smith libertarian. I just think we lose out on way too much if we hand it all over.