Oh great. It’s another one of those vote-the-way-I-say-or-else letters from some guy who really thinks he’s THE BOSS of everybody in ALL-CAPS. This time it’s from Mike White, the chairman and owner of Rite-Hite.
The letter’s below in full but first some commentary.
This guy whines that “Obama has announced that our planned tax rate would increase to roughly 65%” and then winds up saying that if Obama wins he’ll have to take everybody off the company health plan and switch them to Obamacare because it’s so much cheaper.
Huh? What tax announcement?
And so you’ll pay more but then save on something else…. Huh?
The guy has a start on explaining something here but if he wants to convince based on facts alone and not fear-mongering, this is not cutting it.
Of all the people, you would think the conservatives of Wisconsin would be better informed on Chapter 12: Prohibited Election Practices.
Here is Wisconsin statute
12.07 Election restrictions on employers.
Below that is the letter.
“No employer or agent of an employer may distribute to any employee printed matter containing any threat, notice or information that if a particular ticket of a political party or organization or candidate is elected or any referendum question is adopted or rejected, work in the employer’s place or establishment will cease, in whole or in part, or the place or establishment will be closed, or the salaries or wages of the employees will be reduced, or other threats intended to influence the political opinions or actions of the employees.”
The original letter is in this PDF. But I know a lot of people don’t open PDFs so here it is in plain text.
October 23, 2012 Bulletin: CO5105125004
To: All US Rite-Hite Employees
Subject: Upcoming Election
Dear USA Rite-Hite’er,
Every Rite-Hite employee in America should understand the personal consequences to them of having our tax rates increase dramatically if President Obama is re-elected, forcing taxpayers to fund President Obama’s future deficits and social
programs including Obamacare), which require bigger government.
Rite-Hite is a Subchapter S corporation for taxes, meaning that our corporate tax rate is the highest personal tax rate. So what? Well, our RSP contributions are based on AFTER TAX profits. The tax rate we pay is not 17%, as Warren Buffet would have you believe; with state taxes it is roughly 45%. President Obama has announced that our planned tax rate would increase to roughly 65%, reducing our after tax income
by 36% and dramatically reducing, if not eliminating, your and my RSP contributions.
Of equal importance, instead of the these profits being re-invested into Rite-Hite for future growth and profitability, the money will be sent into the abyss that is Washington D.C. So, on top of the burden of having your personal taxes increase dramatically, which they will, your RSP contributions and healthy retirement are also at risk, all for the sake of maintaining an over-sized government that borrows 42% of every dollar it spends.
The other big impact on Rite-Hite employees, if President Obama is re-elected, is the good chance of losing Rite-Hite insurance and being put into Obamacare. Employers have the choice though competition in the marketplace will dictate), to continue their existing plans or to pay a penalty and have employees go into the Government Plan. Our plan costs much more per family than the penalty and hence the possible
competitive need to drop the Rite-Hite Health Plan. Every opportunity to make up for lost profits to taxes will have to be evaluated.
Rite-Hite nor I will ever prejudice any employee for their political views, and, totally respect your right to vote as you choose. I simply am trying to present the facts as I
know them and to protect the business you have helped build! Please think very carefully about your vote on November 6th.
Chairman of the Board and Owner