Wry Catcher
Diamond Member
- Banned
- #41
If you are a small business owner Foxfyre, explain to the readers where the taxes you pay go and for what. Small business being hammered by federal taxes is a canard, the burden on small business comes in the form of fees, taxes, assessments, etc paid to local and sometimes state governemnt.
As for my pointing out GWB was the one who signed the legislation bailing out the too big to fail, I do so not in blame, but to counter the blame Obama receives from the RW purveyors of propaganda who suggest by innuendo that Obama and not Bush is responsible for the bail out. And, btw, Bush did the correct thing, though those who recieved the largess did not.
Complete and utter poppycock. Most small business are either sole proprieterships or partnerships that are taxed at individual tax rates.
Obama allowing the Bush Tax cuts to expire will cause these small businesses to pay income taxes at higher rates than do Mega Corps. The highest Corporate tax rate is 35%. Small businesses will pay 39.6% plus an additional 3.8% ObamaCare surcharge once that kicks in.
So you say. Others say targeted tax cuts will continue for small business, and the higher income tax reflects higher income.