I try to avoid political commentary when I write. I try to stick to the topic I know best- Insurance. However, this one has me going…
I keep hearing the news feed about our President saying if you had a business, you did not build it, someone else built it for you, or you had help along the way. I really find this one offensive!!. Yes, I guess I went to a public elementary school, so I got some education. I went to a Catholic High School, again some good teachers, no government assistance there, and I went to Western Maryland College ( now called McDaniel), a small Private Liberal Arts College in Westminster, Maryland. I took out a student loan, like most people, I got some help from my parents to pay for it, but I paid my loans back, again not like many other Americans.
When I lost my corporate job and health insurance, first I got an individual policy, though funds were low, it was the responsible thing to do. Then after being unemployed for about three weeks, I decided to start my own business. Now I am not good with a hammer, so I decided to get into the insurance business, more specifically the Health Insurance Business.
The first thing I had to do was buy a car, my corporate job provided me with a car. So I used the equity in my home to purchase the car ( I was unemployed so getting a traditional loan would of been difficult). I then spent money of insurance licensing classes and the state charges you to take the test. You then need to advertise, so the first year I had a lot of expenses, my 1099 income a whopping $5000. I remember that so well. I think my expenses while I used a limited budget was still over $20,000 ( not including the car payments).
Years later I was working hard, but had a built up a good insurance practice, then the health care law passes, and what happens, some how as part of the reform, they cut our commissions in HALF!! I would love to see our elected officials take say a $40,000 pay cut! I am not an employee of a company ( well I guess I am the only employee of my company). I pay all of my own expenses, I do my own payroll, I pay my own rent. I pay all of my own advertising. What I do is not any different than any other small business owner or self-employed individual, yet the health insurance brokers, had their commissions slashed. Not the life brokers, not the home and auto insurance brokers, the health insurance brokers.
Well through all of this, I am still in business, while making less money. They can slow me down, they just cannot stop me. However, I really take offense to the statement that I did not build it. I built it, and they still tried to take it away. I had to leverage my house to build it, the Government did not help me.
Thanks for reading.