About small business people...

[Ravi]

I understand it quite well. I have an S corp. The corporation pays no taxes as we always zero out the expenses at the end of the year. There is nothing complicated about this and really is not the point.

The point is this:

Approximately one million small businesses and/or people making over 200K (or 250K as a family) will have a tax increase.

So who would you rather have spending that money? The individual or the government?

Maybe you should start over. Small businesses don't pay income tax.

Start a new thread about how the top 2% of income earners might end up paying a higher income tax rate.

 

[The Paperboy]

And how exactly does that affect your business? I can see how it could affect you, personally, but not your business. If you don't want to pay more in taxes, give out your additional income in employee bonuses or buy some new dog wash machines.

Win/win either way because the money will get spent in the economy instead of sitting in your personal savings account.

As a small business person I do not think of my business as separate from myself. It's an accounting matter.

But if I have to pay an additional $8,000.00 in taxes then either I need to pay myself more to make up for my increased tax burden (which means less money for the business expenses such as employee salaries) or I need to reduce my own spending which effects the waitress at my local restaurant or the handyman who does work on my house.

Either way increasing my taxes doesn't just effect me.

There is nothing very complicated about this.

The question is: Who would you rather have spending that money? The individual or the government?

 

[bk1983]

Maybe you should start over. Small businesses don't pay income tax.

Start a new thread about how the top 2% of income earners might end up paying a higher income tax rate.

Apparently he is tripping over his own lies.

 

[The Paperboy]

How much do you clear a year in sales?

Our sales will be down this year but typically one million. I employ three people in addition to myself.

 

[The Paperboy]

Maybe you should start over. Small businesses don't pay income tax.

Start a new thread about how the top 2% of income earners might end up paying a higher income tax rate.

I never said they did.

Seems only Chris wants to give an honest answer about who he'd rather have spend the money.

 

[The Paperboy]

Apparently he is tripping over his own lies.

And what lie would that be?

 

[bk1983]

As a small business person I do not think of my business as separate from myself. It's an accounting matter.

But if I have to pay an additional $8,000.00 in taxes then either I need to pay myself more to make up for my increased tax burden (which means less money for the business expenses such as employee salaries) or I need to reduce my own spending which effects the waitress at my local restaurant or the handyman who does work on my house.

Either way increasing my taxes doesn't just effect me.

There is nothing very complicated about this.

The question is: Who would you rather have spending that money? The individual or the government?

that sentence proves you don't own a small business and you dont make anywhere near 200k..

 

[bk1983]

And what lie would that be?

you claim to own a small business yet dont understand how the tax policy is structured towards business.

 

[The Paperboy]

that sentence proves you don't own a small business and you dont make anywhere near 200k..

I could care less if you think I'm a street person.

The point is this:

Approximately one million individuals who make 200K or 250K as a family will have their taxes increased. Some will be small business owners. Some will be individuals who work for someone else.

The question is: Who would you rather have spend the money? The government or the individual.

It's a simple question.

 

[The Paperboy]

that sentence proves you don't own a small business and you dont make anywhere near 200k..

Just out of morbid curiosity how do you come up with that conclusion?

 

[PeterS]

Since it looks like small business people who make more than $250,000.00 a year will be hit with a tax increase I thought I'd give a little of my insight into this area as someone who has worked with small business people.

Small business people are the local dentist, vet, software programming outfit, auto repair shop, electrician, etc. Yes, even plumbers. They are people who have worked hard to create a business and those who are successful are rewarded with a nice income.

They are the engine of the economy. Their biggest expenses is payroll. When they get hit with increased taxes they spend less, hire less, cut wages or cut back on staff.

When they spend less this effects everyone else from the local florist to the local printer to the waitress at the local restaurant.

I'm guessing Obama's tax increase on a small business person making $250,000.00 will probably be around $8,000.00.

The question I have is this: Who would you rather have spend that money? The government or the small business person?

Well lets see. I have an surgery for skin cancer coming up and my PPO has a $1,000 deductible and considers skin graphs cosmetic surgery so doesn't cover them therefore add $1,200 to my bill. The way I figure I have $2,200 less for my local plumber, waitress, printer, etc. so, if taxing my surgeon 8 grand lowers my out of pocket expenses thereby increasing my discretionary income I have available for all the 'little' people I say tax the bitch. Joe the plumber needs my income...

 

[bk1983]

I could care less if you think I'm a street person.

The point is this:

Approximately one million individuals who make 200K or 250K as a family will have their taxes increased. Some will be small business owners. Some will be individuals who work for someone else.

The question is: Who would you rather have spend the money? The government or the individual.

It's a simple question.

its not a simple question its a stupid question. taxes are always a redistribution of wealth. of course I dont like taxes, but the borrow and spend policy of the Bush admin has only mortgaged our futures. also where do you get your numbers from? make them up, or do you have a non partisan link?

 

[The Paperboy]

you claim to own a small business yet dont understand how the tax policy is structured towards business.

There's not a whole lot to understand about an S Corp. That being said my wife does the books and we have a CPA. If there is a specific question you have fire away.

 

[bk1983]

There's not a whole lot to understand about an S Corp. That being said my wife does the books and we have a CPA. If there is a specific question you have fire away.

what is the name of your "small business"

 

[The Paperboy]

its not a simple question its a stupid question. taxes are always a redistribution of wealth. of course I dont like taxes, but the borrow and spend policy of the Bush admin has only mortgaged our futures. also where do you get your numbers from? make them up, or do you have a non partisan link?

Taxing people is NOT always a redistribution of wealth.

Taxing people to build highways and bridges is NOT redistribution of wealth.

Taxing one group of taxpayers in order to write a check to another group of taxpayers is redistribution of wealth.

Your Democratic Congress has controlled the purse strings for the past two years yet I have not seen a reduction in spending, the deficit or the debt.

I would support paying more taxes if it went to reduce the debt and deficit but it won't. Not with Obama promising another trillion in spending.

 

[NOBama]

Since it looks like small business people who make more than $250,000.00 a year will be hit with a tax increase I thought I'd give a little of my insight into this area as someone who has worked with small business people.

Small business people are the local dentist, vet, software programming outfit, auto repair shop, electrician, etc. Yes, even plumbers. They are people who have worked hard to create a business and those who are successful are rewarded with a nice income.

They are the engine of the economy. Their biggest expenses is payroll. When they get hit with increased taxes they spend less, hire less, cut wages or cut back on staff.

When they spend less this effects everyone else from the local florist to the local printer to the waitress at the local restaurant.

I'm guessing Obama's tax increase on a small business person making $250,000.00 will probably be around $8,000.00.

The question I have is this: Who would you rather have spend that money? The government or the small business person?

C'mon man, small businesses will simple adjust to the circumstances. Be it that they put everybody on part time, let some people go, or whatever it takes.

Ya know, this game has been going on since the government has been taxing people/companies.

We don't like it. Never did, never will.

In reality the tax increase to business owners making 200+K per year will be somewhere around zero.

 

[The Paperboy]

what is the name of your "small business"

I prefer to remain anonymous thank you very much. But again, if it makes you feel better just assume I'm a homeless person using a computer at the local library.

I don't care if one person or a million people have a tax increase. The question remains the same: Who would you rather have spend the money? The government or the individual?

 

[bk1983]

C'mon man, small businesses will simple adjust to the circumstances. Be it that they put everybody on part time, let some people go, or whatever it takes.

Ya know, this game has been going on since the government has been taxing people/companies.

We don't like it. Never did, never will.

In reality the tax increase to business owners making 200+K per year will be somewhere around zero.

If he actually owned a business he would already know this.

 

[jillian]

Businesses don't pay income tax. The owners and employees of the business do. So unless someone is taking an income of $250,000 or greater out of the business, they've nothing to worry about.

It's quite obvious that you don't own a business...so why don't you talk to someone that does?

And yet, interestingly, despite not being a small business owner; and despite knowing nothing about how taxes actually affect small business, he persists in engaging in propaganda about something he knows nothing about.

Also, if you look at the demographics with regard to the election, the small business owners, doctors, dentists, etc, all voted for Obama.

Reality is fascinating, don't you think?

 

[PoliticalChic]

The government.

The rich suck. Soak the rich.

Hey a news flash -- the rich give other people jobs. If they're making less money, they're going to cut the payrolls. It's not trickle up economics like Obama says, it's trickle down economics.