DITTO-- I am small business also. We have been electrical contractors for over 30 years. One of my friends said--well--people making over 250 K per year should pay more taxes.
I said--well, if you think I am going to be put under that kind of additional stress, missing vacations, working 24/7, hiring more employees, more payroll taxes, dealing with inspectors & customers, buying new work trucks, tools for employees, so I can vault myself into a 39% tax bracket, you're out of your mind. My friend was in a total state of shock. I think he finally saw the other side of the tax coin--relating to taxes to people who make over 250K. In fact, in that tax bracket, they will do everything they can to stay out of it. Meaning no new growth in small business.
I imagine millions of other small business people are thinking the same way I do.
Amen. We have purposely reduced business to remain in our current tax bracket - that is how the tax code actually contracts the economy. We penciled it out, and between my wife and I, if we had a 10% reduction in our tax rates we would be willing to hire 2 additional full time and one part time positions.
Might seem like a small impact, but you multiply that many thousands of times over all across the country, and you see hundreds of thousands of new jobs being created.
I have an associate who runs a large machine shop with contracts spread througout six states. He recently laid off 7 employees. That's 7 families now without a primary earner. 7 families scrambling for health insurance. 7 families facing a very uncertain economic future. If his tax burden was not so great, this number would have been greatly reduced. He still would have had to make cuts due to the economy, but not nearly so many. He told me when you add up all the taxes and fees his business has to pay, he is nearing paying out 50% of every dollar his business earns to the government.
50% of every dollar earned.
When Obama pushes through his increases in the tax code, that number will be pushed over 50%.
Ladies and gentleman, that reality hurts our economy - it limits job growth, hurts families, hurts every damn one of us.
That appears to be the Obama way...[/QUOTE]
I cannot understand why he dosen't understand.. it is most