How Will Obama's Plan Affect You?

[Skull Pilot]

I hate to burst your bubble but, Mr. Clinton is the one "responsible" for most of the mess were in right now, aside from the fact that Corp. America also takes the blame as well.
But it was Clinton's Free Trade agreement that hurt us the most.

As was pointed out, Clinton didn't write NAFTA, he only signed it.

Also, NAFTA is not the root of all of our problems. NAFTA also opened the doors for a global economy, something the world needed.

Like the current crop of inept politicians didn't read the stimulus bill, they just voted for it.

And keeping true to form Obama didn't read it either, he just signed it.

And people wonder why I have absolutely no faith in politicians.

 

[Ravi]

jsanders...what business taxes are being raised?

 

[Skull Pilot]

And to answer the OP, Obama's "plan" will do nothing for me but increase the operating costs of my business, thereby reducing the money i have to invest in new equipment, the money i can save for retirement, the money I would use to hire more people.

 

[Skull Pilot]

jsanders...what business taxes are being raised?

unemployment insurance, which is a tax BTW will go up for one.

But cap and trade (trap and rape) will be the last nail in the coffin because that insidious tax will be tantamount to a universal tax on everything produced and transported in this country. Or in other words Obama's wet dream.

 

[Ravi]

jsanders...what business taxes are being raised?

unemployment insurance, which is a tax BTW will go up for one.

But cap and trade (trap and rape) will be the last nail in the coffin because that insidious tax will be tantamount to a universal tax on everything produced and transported in this country. Or in other words Obama's wet dream.

Small business are being given a bunch of tax breaks...listed at the end of this article.

Star Community Newspapers

 

[Skull Pilot]

jsanders...what business taxes are being raised?

unemployment insurance, which is a tax BTW will go up for one.

But cap and trade (trap and rape) will be the last nail in the coffin because that insidious tax will be tantamount to a universal tax on everything produced and transported in this country. Or in other words Obama's wet dream.

Small business are being given a bunch of tax breaks...listed at the end of this article.

Star Community Newspapers

Small business owners will also receive temporary tax breaks. The rules the Internal Revenue Service issued state that small businesses:

• That earn up to $15 million will be allowed to claim losses for the past five years in the current tax year;

not a big deal because really if a business has been run at a loss for 5 years, chances are it's not around anymore. And for people with an S corp, losses are reported annually on their individual tax returns so no help there

• May write off up to $250,000 in investments this year.

Since this is "temporary" and there is really not much happening in the business world I doubt if a lot of small businesses will be spending 250K on equipment. We are buying a new laser therapy device for 20K but the old 100K limit would have been fine for that. the real question is, just how long will this temporary increase last and will the old limit of 100K be continued or not after the 250K limit expires?

• Can reduce estimated tax payments to 90 percent of the previous year's filing.

BFD You just have to pay that extra 10% by next April 15 anyway

• Are allowed to take larger depreciation deductions within the first year of property purchases.

Not bad but again most small businesses don't buy property, they lease or are run from home. And again how long will it last?

• And will see 75 percent of capital gains excluded for those who invest in small businesses.

is that long term or short term? And if it's only temporary if one doesn't cash out before the rule expires, does he lose the 75% exclusion?

So weigh these temporary tax breaks as you call them against permanent hikes in unemployment insurance, probable hikes in payroll taxes and the permanent universal cap and trade tax and tell me if you think businesses will be better or worse off in the long run.

 

[editec]

I'm expecting the manna to fall from the sky at any moment.

 

[sealybobo]

Question is; will socialism introduced by George W. Bush and Taken to another extreme by Obamamama, effect you?

Answer; Obama has already spent more in 3 months than Bush did in 8 years.


Were doomed!

Bush didn't spend any money inside America for 8 years. Does that make him a better president than Obama?

And let me ask you something. Are you an Iraq war supporter? Because thats costing us $10 billion a month. Don't forget, not only did the GOP not spend on US Infrastructure, on top of not spending on America, they blew $10 bill a month x 6 years. All for Saddam? Was it worth it?

And I think in your next post you said something about it being Clinton & Corporate Americas fault. Will you people please stop being so full of shit? Yesterday one of you was saying that because some Democrats signed on to the Iraq war that they are just as responsible for it as Republicans. What a stretch.

And because Carter wanted poor people to have homes, Democrats are just as responsible as the Republicans who deregulated derivatives.

And now you want to blame Clinton, for signing something that Newt Gingrich, Bob Dole, Bob Barr created, drafted, plotted for, lobbyists paid them to do, etc. My point is, you guys always seem to want to avoid putting blame on the Republicans who came up with the bad ideas but then you are ready to point to any democrats that may have went along?

Very interesting. No wonder the GOP continues business as usual. Their fans are loyal as hell.

 

[Ravi]

unemployment insurance, which is a tax BTW will go up for one.

But cap and trade (trap and rape) will be the last nail in the coffin because that insidious tax will be tantamount to a universal tax on everything produced and transported in this country. Or in other words Obama's wet dream.

Small business are being given a bunch of tax breaks...listed at the end of this article.

Star Community Newspapers

not a big deal because really if a business has been run at a loss for 5 years, chances are it's not around anymore. And for people with an S corp, losses are reported annually on their individual tax returns so no help there



Since this is "temporary" and there is really not much happening in the business world I doubt if a lot of small businesses will be spending 250K on equipment. We are buying a new laser therapy device for 20K but the old 100K limit would have been fine for that. the real question is, just how long will this temporary increase last and will the old limit of 100K be continued or not after the 250K limit expires?



BFD You just have to pay that extra 10% by next April 15 anyway

• Are allowed to take larger depreciation deductions within the first year of property purchases.

Not bad but again most small businesses don't buy property, they lease or are run from home. And again how long will it last?

• And will see 75 percent of capital gains excluded for those who invest in small businesses.

is that long term or short term? And if it's only temporary if one doesn't cash out before the rule expires, does he lose the 75% exclusion?

So weigh these temporary tax breaks as you call them against permanent hikes in unemployment insurance, probable hikes in payroll taxes and the permanent universal cap and trade tax and tell me if you think businesses will be better or worse off in the long run.

The $250,000 is actually permanent, it was passed by congress last year so it probably doesn't belong in this article.

Unemployment insurance isn't that expensive and I haven't heard any talk of raising payroll taxes.

 

[WillowTree]

And $500 more in energy bills.

Why, is gas going back up to $4 a gallon?

4 per gallon is a dream,, it will go to ten..

 

[WillowTree]

Question is; will socialism introduced by George W. Bush and Taken to another extreme by Obamamama, effect you?

Answer; Obama has already spent more in 3 months than Bush did in 8 years.


Were doomed!

I forgot who said this the other day on the TV but to paraphrase " From George Washington to George Bush not as much money was spent as in obamalama's first term" now that's astonishing

 

[Indiana Oracle]

jsanders...what business taxes are being raised?

unemployment insurance, which is a tax BTW will go up for one.

But cap and trade (trap and rape) will be the last nail in the coffin because that insidious tax will be tantamount to a universal tax on everything produced and transported in this country. Or in other words Obama's wet dream.

Small business are being given a bunch of tax breaks...listed at the end of this article.

Star Community Newspapers

Ravi,

The Prophet is spinning what was already started before he took office: cash flow injection to banks and lowering bank borrow rate to near zero - all to encourage lending. All of this was continued under The Prophet, advanced on the margins and is now taking effect as it nearly always has.

Wrote about seeing through rhetoric in my post yesterday on our needing to start examine what is coming out of Washington.

 

[sealybobo]

And $500 more in energy bills.

Why, is gas going back up to $4 a gallon?

4 per gallon is a dream,, it will go to ten..

Good. Then we'll finally get serious about alternative energy.

If Bush did one good thing, it was to force us to get our priorities in order, and to be prepared for armageddon.

PS. I find it fascinating that the right winger conservatives crying about fiscal responsibility, all come from states that take in more federal dollars than they pay out.

You don't hear us crying about domestic spending, and we're the ones actually paying.

What's wrong with that picture Willow?

And don't just be a smart ass about it and laugh that they do that, because then you are just admitting you are not being intellectually honest with us.

I'm trying to prove to you that the GOP's actions do not match their rhetoric. Why doesn't that seem to bother you?

 

[Xenophon]

If Democrats want to prove they are serious about energy, they should partition off the 96 square miles of dessert for solar panels that people say can power the entire country, and put every cent of the so-called 'stimulus' money into building this, and linking it too all the power grids.

They do that, right now, not 'down the road' then they are serious.

Otherwise they are just blowing more smoke up our asses.

 

[Freedomgone2009]

First of all I hated Bush, just as much as I hate Obama. And yes I hated Clinton as well.

if you can put 2 and 2 together, I'm sure you can draw the conclusion that I hate politicians. I haven't seen an honest politician in my lifetime.

And I'm not a republican. I am a registered independent.

As far as Bill Clinton and Corp America, I'll say it again and this time in plain english.

Our problems we face today are from previous leaders as well as Corp America.

To answer your question, I am not a supporter of the Iraq War alone, after 9/11 we owe it to ourselves to go after the entire terrorist network, not just one person or two, we need to get them all, where ever they may be is where we need to be. After all I speak for most American's, I don't want our country to get attacked again. Only way to prevent that is to strike where ever the terrorist may live. As far as Saddam, I admit we spent to much time and money getting him.

Question is; will socialism introduced by George W. Bush and Taken to another extreme by Obamamama, effect you?

Answer; Obama has already spent more in 3 months than Bush did in 8 years.


Were doomed!

Bush didn't spend any money inside America for 8 years. Does that make him a better president than Obama?

And let me ask you something. Are you an Iraq war supporter? Because thats costing us $10 billion a month. Don't forget, not only did the GOP not spend on US Infrastructure, on top of not spending on America, they blew $10 bill a month x 6 years. All for Saddam? Was it worth it?

And I think in your next post you said something about it being Clinton & Corporate Americas fault. Will you people please stop being so full of shit? Yesterday one of you was saying that because some Democrats signed on to the Iraq war that they are just as responsible for it as Republicans. What a stretch.

And because Carter wanted poor people to have homes, Democrats are just as responsible as the Republicans who deregulated derivatives.

And now you want to blame Clinton, for signing something that Newt Gingrich, Bob Dole, Bob Barr created, drafted, plotted for, lobbyists paid them to do, etc. My point is, you guys always seem to want to avoid putting blame on the Republicans who came up with the bad ideas but then you are ready to point to any democrats that may have went along?

Very interesting. No wonder the GOP continues business as usual. Their fans are loyal as hell.

 

[Ravi]

The Prophet? LMAO.

 

[Meister]

Why, is gas going back up to $4 a gallon?

4 per gallon is a dream,, it will go to ten..

Good. Then we'll finally get serious about alternative energy.

If Bush did one good thing, it was to force us to get our priorities in order, and to be prepared for armageddon.

PS. I find it fascinating that the right winger conservatives crying about fiscal responsibility, all come from states that take in more federal dollars than they pay out.

You don't hear us crying about domestic spending, and we're the ones actually paying.

What's wrong with that picture Willow?

And don't just be a smart ass about it and laugh that they do that, because then you are just admitting you are not being intellectually honest with us.

I'm trying to prove to you that the GOP's actions do not match their rhetoric. Why doesn't that seem to bother you?

I can't understand why it doesn't bother you that the government is taking over our lives? I can't understand why you aren't bothered that if gas goes to $10 a gallon, that it will affect the poor tragically. I can't understand why you aren't bothered that we can't borrow our way to prosperity. I can understand why you can't name one country where borrowing their way to prosperity has ever worked. I can't understand why you aren't bothered for putting this deficit burden on your grand children, and great grand children. I guess I just don't understand ignorance....I guess that's it.