DID YA HEAR? 80% of the over 250K crowd is "Small Business"!

[elvis]

Your auto mechanic, your dentist, your trash collector, your doctor, your service employees, your construction industry from A to Z.

Look around your communities. If you see any small business that has 4 to 40 full time employees--the owners of that business are probably in the 250K "evil" rich catagory.

As usual, you are incorrect.

Median Salary by Job - People with Doctor of Medicine (MD) Degrees (United States)

What is the Salary of a Doctor, Medical Doctor Salary – PayScale

The income of the majority of small business owners is less than $250,000 no matter how hard you kick your heals and cry.

Those are SALARIES, not what a business takes in.

 

[Ravi]

duh! What a business takes in does not affect the income tax rate of the salaries paid out.

 

[elvis]

duh! What a business takes in does not affect the income tax rate of the salaries paid out.

Obama is going to tax BUSINESSES, AND the owner's salary.

 

[elvis]

A business that brings in 250k is going to get taxed at the higher rate. The money a business makes is not the same as the salary a business owner may pay herself.

 

[Ravi]

duh! What a business takes in does not affect the income tax rate of the salaries paid out.

Obama is going to tax BUSINESSES, AND the owner's salary.

To the contrary, no one is going to tax business. The only tax increase will be ending the lower rate Bush gave...and it only will affect personal income above $250,000.

Here's a good article on it, explaining what is being proposed.

The Associated Press: FACT CHECK: GOP adrift on small business claim

 

[elvis]

duh! What a business takes in does not affect the income tax rate of the salaries paid out.

Obama is going to tax BUSINESSES, AND the owner's salary.

To the contrary, no one is going to tax business. The only tax increase will be ending the lower rate Bush gave...and it only will affect personal income above $250,000.

Here's a good article on it, explaining what is being proposed.

The Associated Press: FACT CHECK: GOP adrift on small business claim

The original plan was to tax businesses that brought in 250k. I will read the article, but something is missing.

 

[Ravi]

A business that brings in 250k is going to get taxed at the higher rate. The money a business makes is not the same as the salary a business owner may pay herself.

I don't know what you're smoking Elvis, but you obviously never owned a business. Read the article I linked in my post above if you even care to know a little about the topic.

 

[Ravi]

Obama is going to tax BUSINESSES, AND the owner's salary.

To the contrary, no one is going to tax business. The only tax increase will be ending the lower rate Bush gave...and it only will affect personal income above $250,000.

Here's a good article on it, explaining what is being proposed.

The Associated Press: FACT CHECK: GOP adrift on small business claim

The original plan was to tax businesses that brought in 250k. I will read the article, but something is missing.

No, it never was. Most small business don't pay any kind of tax to begin with because they are structured so that only what they pay their employees or shareholders is taxed as personal income by the person receiving it.

 

[KittenKoder]

President Obama will make the wealthy pay their share of Income Tax. Thank God someone with brains is running your country for a change. Eight years of lies, deceit, theft, war, corruption, and hate will be replaced with PEACE, LOVE, and PROSPERITY.

God Bless Obama !

I am so sick of this "fair share" bull shit.

1999 the top 5% paid 55.45% of all income taxes and the bottom 95% paid 44.55%
2000 the top 5% paid 56.47% of all income taxes and the bottom 95% paid 43.53%
2001 the top 5% paid 53.25% of all income taxes and the bottom 95% paid 46.75%
2002 the top 5% paid 53.80% of all income taxes and the bottom 95% paid 46.20%
2003 the top 5% paid 54.36% of all income taxes and the bottom 95% paid 45.64%
2004 the top 5% paid 57.13% of all income taxes and the bottom 95% paid 42.87%
2005 the top 5% paid 59.67% of all income taxes and the bottom 95% paid 40.33%
2006 the top 5% paid 60.14% of all income taxes and the bottom 95% paid 39.86%

Seems to me the top 5% are paying more than their fair share.

Who Pays Income Taxes? See Who Pays What

Skull, while I disagree with the Dems way of handling, that could be true even if they pay a lower percentage of their income. Notice the words "of all income taxes". This only shows they earned more really. I say flat tax, no tax credits, nothing, just here's the percentage of your checks you pay and that's it. The rich will STILL pay most of the taxes because they have the most money to tax.

What they are using as an argument against it is the percentage of taxes paid, because a lot of the wealthy do find loopholes to pay a lower percentage of their checks, which still winds up to be a higher dollar amount than a poor person paying almost all their checks to taxes. That is where the unbalance is, they just have a REALLY bad way of fixing it.

 

[Skull Pilot]

President Obama will make the wealthy pay their share of Income Tax. Thank God someone with brains is running your country for a change. Eight years of lies, deceit, theft, war, corruption, and hate will be replaced with PEACE, LOVE, and PROSPERITY.

God Bless Obama !

I am so sick of this "fair share" bull shit.

1999 the top 5% paid 55.45% of all income taxes and the bottom 95% paid 44.55%
2000 the top 5% paid 56.47% of all income taxes and the bottom 95% paid 43.53%
2001 the top 5% paid 53.25% of all income taxes and the bottom 95% paid 46.75%
2002 the top 5% paid 53.80% of all income taxes and the bottom 95% paid 46.20%
2003 the top 5% paid 54.36% of all income taxes and the bottom 95% paid 45.64%
2004 the top 5% paid 57.13% of all income taxes and the bottom 95% paid 42.87%
2005 the top 5% paid 59.67% of all income taxes and the bottom 95% paid 40.33%
2006 the top 5% paid 60.14% of all income taxes and the bottom 95% paid 39.86%

Seems to me the top 5% are paying more than their fair share.

Who Pays Income Taxes? See Who Pays What

Skull, while I disagree with the Dems way of handling, that could be true even if they pay a lower percentage of their income. Notice the words "of all income taxes". This only shows they earned more really. I say flat tax, no tax credits, nothing, just here's the percentage of your checks you pay and that's it. The rich will STILL pay most of the taxes because they have the most money to tax.

What they are using as an argument against it is the percentage of taxes paid, because a lot of the wealthy do find loopholes to pay a lower percentage of their checks, which still winds up to be a higher dollar amount than a poor person paying almost all their checks to taxes. That is where the unbalance is, they just have a REALLY bad way of fixing it.

I am not disagreeing with you. Higher earners pay more because they make more, but raising marginal tax rates simply because one makes more is IMO unjust. And the fact that some 40% of earners pay absolutely nothing is unjust.

My business pays a minimum state tax of $250 even if I show a loss. Everyone, and that means everyone should have to pay some minimum income tax. I don't care if it's $5 a week but it should be something. I don't believe paying 0% is a "fair share" where some believe that 40% or more is a "fair share" just because one has the misfortune of earning what some people believe is "too much"

 

[KittenKoder]

I am so sick of this "fair share" bull shit.

1999 the top 5% paid 55.45% of all income taxes and the bottom 95% paid 44.55%
2000 the top 5% paid 56.47% of all income taxes and the bottom 95% paid 43.53%
2001 the top 5% paid 53.25% of all income taxes and the bottom 95% paid 46.75%
2002 the top 5% paid 53.80% of all income taxes and the bottom 95% paid 46.20%
2003 the top 5% paid 54.36% of all income taxes and the bottom 95% paid 45.64%
2004 the top 5% paid 57.13% of all income taxes and the bottom 95% paid 42.87%
2005 the top 5% paid 59.67% of all income taxes and the bottom 95% paid 40.33%
2006 the top 5% paid 60.14% of all income taxes and the bottom 95% paid 39.86%

Seems to me the top 5% are paying more than their fair share.

Who Pays Income Taxes? See Who Pays What

Skull, while I disagree with the Dems way of handling, that could be true even if they pay a lower percentage of their income. Notice the words "of all income taxes". This only shows they earned more really. I say flat tax, no tax credits, nothing, just here's the percentage of your checks you pay and that's it. The rich will STILL pay most of the taxes because they have the most money to tax.

What they are using as an argument against it is the percentage of taxes paid, because a lot of the wealthy do find loopholes to pay a lower percentage of their checks, which still winds up to be a higher dollar amount than a poor person paying almost all their checks to taxes. That is where the unbalance is, they just have a REALLY bad way of fixing it.

I am not disagreeing with you. Higher earners pay more because they make more, but raising marginal tax rates simply because one makes more is IMO unjust. And the fact that some 40% of earners pay absolutely nothing is unjust.

My business pays a minimum state tax of $250 even if I show a loss. Everyone, and that means everyone should have to pay some minimum income tax. I don't care if it's $5 a week but it should be something. I don't believe paying 0% is a "fair share" where some believe that 40% or more is a "fair share" just because one has the misfortune of earning what some people believe is "too much"

The only drop-off point for income taxes I believe is the poverty line. Losing the tiny amount from them won't hurt the economy and most earning that are just happy laborers content with going to work and buying what they need, otherwise they would seek out better jobs since poverty level jobs are really not that common. But changing the percentage one pays in taxes based on how much they earn is unfair, as well as the unbalance in who benefits from it which the Dems want right now. Cons weren't much better under Jr. but at least they didn't pretend they were going to "save us all". The original conservative ideals I think would be best, even in this modern world (if not more for this modern world) we now live in. At least in this area (I disgree with some other points they have and had).

One fact that many forget is that in order for individuals to be wealthy the whole country has to be wealthy to, and right now we are not. It's not because no one is paying their taxes but now it seems that many Obama supporters think it is. They need to realize that most of the problems are from those who cannot afford credit getting it anyway, then faulting on it. So the wealthy have less blame this time around ... usually the blame is more even but this time ... the middle class with desires above their means caused a majority of the economic problems we now face.

 

[KittenKoder]

Ooops ... read it backwards. But still ...

 

[WillowTree]

my apologies then

not accepted

fuck off then
asshole

 

[KittenKoder]

Sphincter Boy is an asshole ... we all know that.

 

[editec]

Define small, please.

 

[Skull Pilot]

Define small, please.

According to the SBA

To qualify as a small business concern for most SBA programs, small business size standards define the maximum size that a firm, including all of its affiliates, may be. A size standard is usually stated in number of employees or average annual receipts. SBA has established two widely used size standards—500 employees for most manufacturing and mining industries, and $7 million in average annual receipts for most nonmanufacturing industries

 

[jreeves]

Define small, please.

According to the SBA

To qualify as a small business concern for most SBA programs, small business size standards define the maximum size that a firm, including all of its affiliates, may be. A size standard is usually stated in number of employees or average annual receipts. SBA has established two widely used size standards—500 employees for most manufacturing and mining industries, and $7 million in average annual receipts for most nonmanufacturing industries

Does anyone consider it fair or just to give someone who made 8k in a year $3500 check? When people that makes 100k are paying 30k in combined taxes?

 

[editec]

Define small, please.

According to the SBA

To qualify as a small business concern for most SBA programs, small business size standards define the maximum size that a firm, including all of its affiliates, may be. A size standard is usually stated in number of employees or average annual receipts. SBA has established two widely used size standards—500 employees for most manufacturing and mining industries, and $7 million in average annual receipts for most nonmanufacturing industries

Thank you Skull.

Of course, I asked that question because I wanted people to realize that the word SMALL is meaningless as it pertains to this discussion until we defined it.

The SBA has a very detailed list of industries, and what the benchmarks are for it to be defines as "SMALL".

For those of you actually interested in KNOWING what "small business" means as it relates to this discussion:

HERE is the detailed by industry list that the government uses to define SMALL BUSINESS.

 

[SpidermanTuba]

President Obama will make the wealthy pay their share of Income Tax. Thank God someone with brains is running your country for a change. Eight years of lies, deceit, theft, war, corruption, and hate will be replaced with PEACE, LOVE, and PROSPERITY.

God Bless Obama !

I am so sick of this "fair share" bull shit.

1999 the top 5% paid 55.45% of all income taxes and the bottom 95% paid 44.55%
2000 the top 5% paid 56.47% of all income taxes and the bottom 95% paid 43.53%
2001 the top 5% paid 53.25% of all income taxes and the bottom 95% paid 46.75%
2002 the top 5% paid 53.80% of all income taxes and the bottom 95% paid 46.20%
2003 the top 5% paid 54.36% of all income taxes and the bottom 95% paid 45.64%
2004 the top 5% paid 57.13% of all income taxes and the bottom 95% paid 42.87%
2005 the top 5% paid 59.67% of all income taxes and the bottom 95% paid 40.33%
2006 the top 5% paid 60.14% of all income taxes and the bottom 95% paid 39.86%

Seems to me the top 5% are paying more than their fair share.

Who Pays Income Taxes? See Who Pays What

That's because the top 5% are a lot richer now than they were in 1999. The actual tax rates have gone DOWN since then

 

[KittenKoder]

President Obama will make the wealthy pay their share of Income Tax. Thank God someone with brains is running your country for a change. Eight years of lies, deceit, theft, war, corruption, and hate will be replaced with PEACE, LOVE, and PROSPERITY.

God Bless Obama !

I am so sick of this "fair share" bull shit.

1999 the top 5% paid 55.45% of all income taxes and the bottom 95% paid 44.55%
2000 the top 5% paid 56.47% of all income taxes and the bottom 95% paid 43.53%
2001 the top 5% paid 53.25% of all income taxes and the bottom 95% paid 46.75%
2002 the top 5% paid 53.80% of all income taxes and the bottom 95% paid 46.20%
2003 the top 5% paid 54.36% of all income taxes and the bottom 95% paid 45.64%
2004 the top 5% paid 57.13% of all income taxes and the bottom 95% paid 42.87%
2005 the top 5% paid 59.67% of all income taxes and the bottom 95% paid 40.33%
2006 the top 5% paid 60.14% of all income taxes and the bottom 95% paid 39.86%

Seems to me the top 5% are paying more than their fair share.

Who Pays Income Taxes? See Who Pays What

That's because the top 5% are a lot richer now than they were in 1999. The actual tax rates have gone DOWN since then

I already pointed out the flaw with that, but it doesn't support charging them a higher percentage in taxes just because they are rich.