With all the drama over John McCain’s VP pick, Sarah Palin, many business owners and executives alike are wondering how it could possibly affect their business. Sarah Palin prides herself on being a Maverick and going against the grain. In terms of CEOs with huge corporate salaries, this could spell trouble. However, it’s also important to look at McCain’s plans, which Palin will naturally, fully support. While Palin may do some good things for business, there could be a lot of far reaching consequences that hurt businesses. Without further introduction, here are 6 reasons Sarah Palin will be bad for your business.

1. Healthcare – John McCain has a plan to put $5,000 American dollars in the pockets of every person in America for healthcare. On the surface, this seems like a phenomenal plan. However, a closer look shows that it may actually hurt some small businesses. If every person is given money to choose their own healthcare plan, then it will be substantially more difficult for smaller businesses to choose a healthcare plan that every employee is happy with. If workers have this credit, and depending on how things work with healthcare companies, businesses may lose certain discounts from providers as employees go outside the workplace for their healthcare plans.

2. Drill baby, drill – The energy crisis is extremely important. There are debates concerning which is the best way to address the issue. Sarah Palin, coming from Alaska, has a huge interest in energy investments. Specifically, Sarah Palin wants to drill, while being environmentally safe about it. This can have a negative affect on businesses as drilling will be extremely expensive and could lead to increased taxes. Additionally, there is uncertainty about how much oil will actually be found in Alaska. Some wonder if the costs will outweigh the benefits, considering the amount of oil Americans use in a given day. The difference is not likely to be made up simply by drilling in Alaska.

3. Eliminating huge corporate salaries – It’s not yet quite clear what the Palin/McCain administration would do about the ever-increasing salaries of CEOs, and of those persons on Wall Street. However, Palin has been steadfast in her commitment to being a Maverick like McCain. With this in mind, one can assume that Palin will want to change the way Wall Street and Businesses are run. This could make things significantly more difficult for executives who may be used to a variety of financial breaks that may not exist under a McCain administration. Republicans have long been stalwarts in defending the trickle down affect. However, with economic turmoil comes a change in philosophy. Less money at the top may not hurt the overall business, but could certainly hurt individuals.

4. An Alaskan Focus – Sarah Palin has been a champion of Alaska. While a very important state, it’s not exactly the business center that states like California and New York are. Sarah Palin has promised to bring her small-town philosophy to big government. What this could mean is that your business will get less attention. With the war in Iraq, which McCain will certainly focus on, and Palin’s commitment to energy, some wonder when they will take a good look at the state of small and large businesses in the union. This could mean that many businesses that are having difficult times may not get any government help in the future.

5. Inexperience and the economy – It’s no secret that many people see Sarah Palin as being unqualified for the position of Vice President. With the tough economic challenges that lie ahead, and the bailout looming, someone with very little experience in big government may have more difficulties when making decisions. Of course, McCain will surround himself with persons who are well versed in economics, but the second in command may be in over her head at least for a little. Not much is known how this may affect businesses, but the outlook isn’t exactly positive.

6. The War in Iraq – Contrary to what Obama has stated, the McCain/Palin administration will be much more committed to finishing the war in Iraq. Obama wants to withdraw troops and give the Iraqi government a timetable. McCain and Palin both see this as a mistake in philosophy. No matter how you phrase it, staying in Iraq will cost billions of taxpayer dollars. That will be less money available to put back into the economy, to help struggling business, and to deal with the financial crisis. In terms of your business, that means that loans will still be very difficult to get. Palin wants to focus on issues abroad. Since there are many issues at home, this means that there could be a financial conflict when it comes to where the money goes. It could go to help start-up businesses or those in serious debt, or to finance more troops. Most online business degree holders and business owners probably want the money to go to the former.

Sarah Palin may not be entirely bad for your business. But with the echoes of change coming to Washington no matter who you vote for, the outlook is a bit grim. John McCain has the potential to be the oldest elected first-term president ever. With concerns about his health, a Sarah Palin presidency could be a reality. With her never being on capital hill, it could be quite challenging. Either way, businesses will have to focus on their bottom lines and prepare for sweeping changes. McCain and Palin are Mavericks, while Biden and Obama discuss change. This means that no matter what, things are going to be different for the next four years.
 

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