If Democrats Were Smart on the Bush Tax Cuts

Discussion in 'Politics' started by GHook93, Dec 1, 2010.

  1. GHook93
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    GHook93 Aristotle

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    They would set the mark at $1 million! Most people could relate to and accept that level. The $250K mark is going to hit small business owners hard. The $250k-$750K is the SUCCESSFUL small business owner who actually employ a lot of Americans. At the $1 million and above your safely moving into the large corporations and probably mostly executives. I have no problem with seeing these people pay higher taxes and it will NOT effect business or employment.

    The Capital Gains tax shouldn't go up! The Democrats should take a hard line it keeping it steady for everyone!

    This is more than a fair compromise and the Democrats tossing these at the Republicans and turning the tide would be interesting to say the least!

    But the Democrats are too fucking stupid to do this. In the end they will say the NO, only the $250K and below and taxes will go up on everyone! They will try to spin it as the Evil Republicans!
     
  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Agree

    The top tax bracket starts at $375,000 and is taxed at 35%. As a minimum, we should start there
     
  3. Common Sense
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    Common Sense BANNED

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    the average small business owner makes less than $100K annually.
    PayScale - Owner / Operator, Small Business Salary, Average Salaries

    definitions of a small business:

    - A company that employs under 100 people and is usually a privately owned corporation.

    - A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships

    - A business that has had less than $1.5 million in gross annual sales in the most recent calendar or fiscal year

    however you want to define it, a typical small business owner is not earning more than $250k.

    if you are exceeding $350k, you are probably not considered a small business, but more medium size or small corporation.

    plus if you are really a small business owner (a sole proprietor or partnership) you have the ability to take advantage of other tax breaks.

    - Top Tax Deductions for Your Small Business - Free Legal Information - Nolo

    if you have a good business and good accountant, you can limit your tax liability and still take home a good salary.
     
    Last edited: Dec 1, 2010

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