Republicans LIE about the tax hike hurting small businesses

Discussion in 'Politics' started by ilia25, Nov 28, 2012.

  1. ilia25
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    ilia25 I can do math

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    John Boehner:
    "In my view, raising taxes on the so-called top 2 percent, half of those taxpayers are small-business owners that pay their taxes through their personal income filing every year... you're not going to grow the economy if you raise the top 2 percent rates. It'll hurt small businesses, and it'll hurt our economy..."

    But the truth is that a personal tax hike does NOT hurt the small business, because only the company profits are counted as the owner's income and are taxed accordingly -- not the whole revenue. So the tax hike only penalizes those appropriating more than 250,000 of their company revenue. It has no effect on the business solvency -- quite the opposite, it encourages the owner to spend more revenues on expanding their business.

    So the question is not whether Boehner treats Americans as a bunch of illiterate fools -- he obviously does.

    The question is whether he will get away with it -- again.


    See also:
    http://www.slate.com/articles/busin...are_not_affected_by_obama_tax_proposals_.html
     
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    Last edited: Nov 28, 2012
  2. g5000
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    g5000 Diamond Member

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    We also know Republicans are lying because they claim their deduction cap will have the same effect as raising the tax margin. They claim it will raise taxes on the rich!

    .
     
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  3. whitehall
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    whitehall Gold Member

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    You almost gotta laugh. Lefties find an opinion by a leftie on a left wing blog and they post it as news. Actually the article claimed "republicans exploit confusion about taxes" when the freaking Hussein appointed treasury secretary testified in his confirmation hearing that he was confused about the standard tax form and that's why he cheated on his taxes.
     
  4. Koios
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    Koios Recreational Kibitzer

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    Emphasis added. :clap2:
     
  5. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Tell that to my friend who is struggling with her business because of the tax hikes
     
  6. Koios
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    Koios Recreational Kibitzer

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    What tax hikes?
     
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  7. WillowTree
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    WillowTree Diamond Member

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    poor stupid democraps. there's no help for em.
     
  8. ilia25
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    ilia25 I can do math

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    Tax code is not an opinion, it is a fact.
     
  9. eflatminor
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    eflatminor Classical Liberal

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    So there's no chance the business owner who takes a $250k salary for him and his family won't need to take a bit more from his company to maintain his current standard of living following a tax rate hike? I suspect that's exactly what he'll do. Alternatively, he can lay off a worker, not expand or hire as may have been previously planned, or perhaps raise his prices, if the market will stand it. Whatever he does, the owner has his bills to pay and a return to expect for the investment that created the business. If he doesn't continue to collect his normal salary, he will end up with less, which means he'll spend less. Not so good for the other business he won't be buying from.

    No matter how you spin this, there is NO WAY raising taxes helps small business.
     
  10. Koios
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    Koios Recreational Kibitzer

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    They don't take more. The profit accrues to them as personal income. And if that profit matches, mirculously, to the $250K they set as their salary, what additional tax will they pay, when only income north of $250K is taxed at slightly more than a 4% higher rate?
     

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