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The Libs don't understand that firmly in that $250-$750K (even up to 1 million) is the SUCCESSFUL small businesses that employee the majority of Americans!!!
If it was up to libtards they would want to tax businesses on Gross Income!
If you are a small business owner yourself, you would have to be a whiz running a very profitable small business to get hit with a tax increase under the plan Obama supports. You would have to report total income of more than $200,000 (or $250,000 for couples) after all your business expenses were deducted. You may remember this being a key point during the Joe the Plumber debate during the 2008 campaign when Samuel Joseph Wurzelbacher said to then candidate Obama, "I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year. Your new tax plan's going to tax me more, isn't it?" Back then, the Tax Policy Center analyzed all taxpayers, of any income level, who report these types of business income. They found only about 2 percent of them would see tax increases if the government increased the rates on the top earners. So the vast majority of possible small business owners would not see a tax increase if the Bush tax cuts expire for those in the top incomes.
Ninety-three percent of American households suffered at least one "substantial economic shock" in the 18-month period from March 2008 to September 2009, according to a new report from the Rockefeller Foundation and Yale University.
The Libs don't understand that firmly in that $250-$750K (even up to 1 million) is the SUCCESSFUL small businesses that employee the majority of Americans!!!
If it was up to libtards they would want to tax businesses on Gross Income!
It is not just the poor that have been severly impacted by this economy. 93% of Americans have fallen on hard times.
Standing on Shaky Ground: Americans' Experiences with Economic Insecurity
Ninety-three percent of American households suffered at least one "substantial economic shock" in the 18-month period from March 2008 to September 2009, according to a new report from the Rockefeller Foundation and Yale University.
The Libs don't understand that firmly in that $250-$750K (even up to 1 million) is the SUCCESSFUL small businesses that employee the majority of Americans!!!
If it was up to libtards they would want to tax businesses on Gross Income!
I can't believe after all this time, some of you are STILL arguing that long-ago disproven point.
PolitiFact | So-called wealthy are actually small business owners? The data is dubious
If you are a small business owner yourself, you would have to be a whiz running a very profitable small business to get hit with a tax increase under the plan Obama supports. You would have to report total income of more than $200,000 (or $250,000 for couples) after all your business expenses were deducted. You may remember this being a key point during the Joe the Plumber debate during the 2008 campaign when Samuel Joseph Wurzelbacher said to then candidate Obama, "I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year. Your new tax plan's going to tax me more, isn't it?" Back then, the Tax Policy Center analyzed all taxpayers, of any income level, who report these types of business income. They found only about 2 percent of them would see tax increases if the government increased the rates on the top earners. So the vast majority of possible small business owners would not see a tax increase if the Bush tax cuts expire for those in the top incomes.
If you don't believe that fact-checker, then here is just one Google page of reports by other economists saying the same thing.
Only 2% of small businesses would be taxed in the over $250,000 bracket - Bing
Great story and dead accurate.
For every teenager that thinks his parents is made of money, there are three liberals who thinks the company they work for is made of money.
In the past few months we have done better at our company. But "better" is not what it used to be. In October we made as much money as we did Jan-September. However, October would have been a bad month compared to pre-recession.
Taking another huge hit for higher taxes would be insanely stupid.
The mom and pop shop will not get hit by this tax but the McDonald's or Dunkin Donuts franchisee will. An employer with 500 employees or FTEs is running close to $10,000,000 in payroll expense and $25 million in capitalization. At $1,000,000 net aftertax free cashflow the owner should give strong consideration to sale or liquidation because practically any balanced asset allocation tested would perform better. And that owner is by federal definition a small business owner.
The mom and pop shop will not get hit by this tax but the McDonald's or Dunkin Donuts franchisee will. An employer with 500 employees or FTEs is running close to $10,000,000 in payroll expense and $25 million in capitalization. At $1,000,000 net aftertax free cashflow the owner should give strong consideration to sale or liquidation because practically any balanced asset allocation tested would perform better. And that owner is by federal definition a small business owner.
You could be right but that sounds optimistic to me. Lobbying pays.The mom and pop shop will not get hit by this tax but the McDonald's or Dunkin Donuts franchisee will. An employer with 500 employees or FTEs is running close to $10,000,000 in payroll expense and $25 million in capitalization. At $1,000,000 net aftertax free cashflow the owner should give strong consideration to sale or liquidation because practically any balanced asset allocation tested would perform better. And that owner is by federal definition a small business owner.
The healthcare law will defiantly hit the Wal-Mart type retail chains & large McDonald's type franchise franchise hard while giving a little benefit to small business after hitting them with the massive 1099 tax regulation burden.
Great story and dead accurate.
For every teenager that thinks his parents is made of money, there are three liberals who thinks the company they work for is made of money.
In the past few months we have done better at our company. But "better" is not what it used to be. In October we made as much money as we did Jan-September. However, October would have been a bad month compared to pre-recession.
Taking another huge hit for higher taxes would be insanely stupid.
I don't get it. You seem to fully understand that your living standards are heading the way of global parity. And surely all Americans must realize that since 1946 we have earned far, far more than our share. Or more on point we have been paid far, far more than we actually earned.
So why complain? Thank God you don't live in the 150 poorest nations on earth. Thank God that you live in the US where your wages are automatically 3-4 times higher than what you would earn for the same effort in most of the world, not to mention the overwhelming majority of history.
Americans nest on piles of wealth every day that nobody on earth could imagine 150 years ago. And everyday we essentially say "let them eat cake" to the poorest 2-3 billion people alive who exist on a few dollars a day in income......all because they had the misfortune and we had the fortune of picking our parents?
I simply do not understand the sense of entitlement Americans exude. It bewilders me. You had it ALL. Isn't that enough? Did you think it was somehow your birthright to be eternally wealthy just because?
I can understand competing to keep our edge. I just can't see how most of us have any basis for complaining about our amazingly lucky fates.
If those small business owners who are reeling in $250K-$1000K in TAXABLE INCOME/year can't kick down and begin hiring, then tax em!
The only justification for allowing capitalists to exist is if they STIMULATE econ growth. If they won't then we can return them to the tax schedules of say 1965.
Nuf sed.
You must spread some Reputation around before giving it to Jeremy again.