Home topics workplace industry-human-resources Industry HR Industry HR 3 ways politics impact business Guest Author February 13, 2018 You may not personally want to be involved in modern politics but if you want to run a business you have to be aware how the laws of the land can affect your bottom line. Tax laws, business treaties, tariffs, and commerce in general is impacted by politics. Graduates of George Washington University online have insights into politics and the government that the average business professional is not exposed to. Having a degree in political management can be just as valuable as being an MBA holder. Check out the three main ways that politics and business go hand in hand. Politics and Business Taxes Individuals and businesses that have higher yearly earnings are typically taxed at a higher rate. Different political parties might campaign on a platform with promises of lowering taxes for big businesses, while the opposing party might be vying for middle-class voters. As a business owner, you need to discern the rhetoric and look at political track records. Remember that businesses have to pay state taxes, federal taxes, and sometimes local taxes if they are located in a city like New York. A small reduction in federal business taxes can be really good for a company while a major increase might lead to a business’ ultimate downfall. Employee Protections and Coverage Before Obamacare passed, business owners had a lot more freedom about the kind of healthcare coverage they were