RegDunlop Posted November 3, 2008 Report Share Posted November 3, 2008 Prepare to have your wealth redistributed...as a matter of fact you are better off reducing your work force (ie fire a few guys ) and reducing your productivity ....you could end up working less and gaining just as much if you can stay under Obamas punitive tax level....who cares if a few of your employess lose their jobs or you can't produce enough.. better than getting a penalty for working hard if we're looking for a shark we're not gonna find him on the land Link to comment Share on other sites More sharing options...
Triet Posted November 3, 2008 Report Share Posted November 3, 2008 Aren't taxes a penalty for working hard? Your boy is going to be a big flop in Washington, and I can't wait till it happens.-Rocky RhodesMccain is weak, lame and a poor choice for President-JimP Link to comment Share on other sites More sharing options...
TheSpaniard Posted November 3, 2008 Report Share Posted November 3, 2008 Hey Reg, How many small business's make over 250K in profits for the year? How many small business's are we talking about here? John Create instead of living off the buying and selling of others....... Link to comment Share on other sites More sharing options...
Nebe Posted November 3, 2008 Report Share Posted November 3, 2008 As a small business owner, I must say I look forward to saying good bye to the GOP.. soo long suckas. Link to comment Share on other sites More sharing options...
fishweewee Posted November 3, 2008 Report Share Posted November 3, 2008 Hey Reg, How many small business's make over 250K in profits for the year? How many small business's are we talking about here? John small businesses employ the most people - not the big corporations. Link to comment Share on other sites More sharing options...
Robert Williams Posted November 3, 2008 Report Share Posted November 3, 2008 What Obama isn't telling you fellas is that he plans on letting the tax cuts we've been enjoying expire. So while he tells you out of one side of his mouth that he will not raise the taxes on the poor and middle class, he's going to let the tax cuts expire and THAT will raise the taxes on the poor and middle class (those that actually pay taxes, anyway). Now you might think... well, gee, what's the difference if my taxes will go up because of him? The difference is that some people might not vote for him if he was honest about it. Link to comment Share on other sites More sharing options...
TheSpaniard Posted November 3, 2008 Report Share Posted November 3, 2008 fishweewee, I understand that small business employs the most people. But how many small business's turn a profit over 250K? I have heard numbers and the one I hear the most is about 5% of ALL small business's make over 250K in profits. There are reason's for this which I have posted about numerous times but to sum it all up very short small business's have no incentive to save money. Any profit they turn is taxed. So if they spend that money by reinvesting back into their business they don't pay taxes on that profit. Simply because it's not a profit.... So again, How many small business's make over 250K in profit ea year? I posted what i saw anyone want to dispute that because some of you make it sound like ALL small business is in for the shaft and simply put your wrong..... John Create instead of living off the buying and selling of others....... Link to comment Share on other sites More sharing options...
canyondiver Posted November 3, 2008 Report Share Posted November 3, 2008 What Obama isn't telling you fellas is that he plans on letting the tax cuts we've been enjoying expire. Isn't this the tax cut that has been benefiting the top few percent of the money holders? Bush didn't make tax cuts to help the lower and middle class, he made them to max out the profits for his buddies. No deception there! I can't say what will work flawlessly, but I think we need to try a different strategy and see how it works. If there is anyone on this BBS that has "THE" answer to our financial woes, every ones woes, I urge you to write congress and let them know. I am sure if it is a sound position, it will be put into action and someone else will take the credit. However, we will all know it was you who saved America. Proud to be a NERB and I have the shirts to prove it!! Link to comment Share on other sites More sharing options...
Charlie M Posted November 3, 2008 Report Share Posted November 3, 2008 As a small business owner, I hope one day to make 250K in profits. At that point in time, I will worry about the tax burden. But right now it doesn't scare me. Link to comment Share on other sites More sharing options...
dogboy Posted November 3, 2008 Report Share Posted November 3, 2008 Hey Reg, How many small business's make over 250K in profits for the year? How many small business's are we talking about here? John Not many people at all - 5% of the total population, not just small business owners. 70 million households rings a bell as a total (4.28 people per household, which seems reasonable, would work out to 300 million people)- that means 3,500,000 tax returns are filed by people making more than the magic number of $200,000 for singles and $250,000 for couples. in all, about 15 million people total, all ages, would live in households where taxes would go up that is adjusted gross income, not sales volume. these would be the same households who saw their taxes go WAY down the last few years, so it is just going back to status quo ante that means 66.5 million households, or 284 million people would NOT see their taxes go up. Link to comment Share on other sites More sharing options...
RegDunlop Posted November 3, 2008 Author Report Share Posted November 3, 2008 Isn't this the tax cut that has been benefiting the top few percent of the money holders? Bush didn't make tax cuts to help the lower and middle class, he made them to max out the profits for his buddies. No deception there! I can't say what will work flawlessly, but I think we need to try a different strategy and see how it works. If there is anyone on this BBS that has "THE" answer to our financial woes, every ones woes, I urge you to write congress and let them know. I am sure if it is a sound position, it will be put into action and someone else will take the credit. However, we will all know it was you who saved America. how about these BO ideas: http://www.youtube.com/watch?v=8sj91NH5fvw 8sj91NH5fvw if we're looking for a shark we're not gonna find him on the land Link to comment Share on other sites More sharing options...
fishsticking Posted November 3, 2008 Report Share Posted November 3, 2008 fishweewee, I understand that small business employs the most people. But how many small business's turn a profit over 250K? I have heard numbers and the one I hear the most is about 5% of ALL small business's make over 250K in profits. There are reason's for this which I have posted about numerous times but to sum it all up very short small business's have no incentive to save money. Any profit they turn is taxed. So if they spend that money by reinvesting back into their business they don't pay taxes on that profit. Simply because it's not a profit.... So again, How many small business's make over 250K in profit ea year? I posted what i saw anyone want to dispute that because some of you make it sound like ALL small business is in for the shaft and simply put your wrong..... John Well small business have 2 ways that I am aware of to account for their profit. File tax returns as Sub Chapter "C" or Sub Chapter "S". If "C" corporation all profits are taxed at 34% (or at least they were) even dollar $1 If "S" corporation, then the Corporation never pays a single dollar in corporate taxes, the Profit or Loss is filed by the owner of the corporation on their personal income tax forms. "meet our growth targets that put us on a pathway to growth." Link to comment Share on other sites More sharing options...
fishweewee Posted November 3, 2008 Report Share Posted November 3, 2008 There are reason's for this which I have posted about numerous times but to sum it all up very short small business's have no incentive to save money. Any profit they turn is taxed. So if they spend that money by reinvesting back into their business they don't pay taxes on that profit. Simply because it's not a profit.... doesn't matter if you're a small business or a big one. "investment" in the form of capital expenditures (new equipment, plant upgrades, etc) is usually made with after-tax profits ... OR ... bank borrowing. Link to comment Share on other sites More sharing options...
dogboy Posted November 3, 2008 Report Share Posted November 3, 2008 As a small business owner, I hope one day to make 250K in profits. At that point in time, I will worry about the tax burden. But right now it doesn't scare me. what he said don't confuse sales volume with adjusted gross income Link to comment Share on other sites More sharing options...
dogboy Posted November 3, 2008 Report Share Posted November 3, 2008 "investment" in the form of capital expenditures (new equipment, plant upgrades, etc) is usually made with after-tax profits which can be depreciated let's not forget Link to comment Share on other sites More sharing options...
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