Who's Getting An Obama Tax Increase?

[bagerroness]

http://www.usnews.com/blogs/risky-business/2009/04/27/whos-getting-an-obama-tax-increase.html

according to this piece.. it's not just the big businesses that will get hurt from these egregious tax increases.. pre-schools and other small businesses as well will be hit hard. imo:crying:

[flareon]

http://www.usnews.com/blogs/risky-business/2009/04/27/whos-getting-an-obama-tax-increase.html

according to this piece.. it's not just the big businesses that will get hurt from these egregious tax increases.. pre-schools and other small businesses as well will be hit hard. imo:crying:

I think many more people than the wealthy are going to be hit will a higher tax liability. Either through backdoor practices, user fees, increased state rates, etc.

[shiloh2000]

I think many more people than the wealthy are going to be hit will a higher tax liability. Either through backdoor practices, user fees, increased state rates, etc.

Backdoor is right. As businesses taxes increase it rolls down to the consumer regardless if they're small or large. States are raising their taxes too.

From the link: "You can try to pass it on to consumers. But if you raise tuition, you put pressure on family budgets," she said. "For us, we're caught between the devil and the deep blue sea."

[LisaM22]

I think many more people than the wealthy are going to be hit will a higher tax liability. Either through backdoor practices, user fees, increased state rates, etc.

we somehow have to pay for the damage done during the last 8 years, some peoples taxes will eventually go up and yes the bush tax cuts for the rich will come to a end - bush doubled the national credit card, who has to pay for that?

[LisaM22]

The example used in the article is not a small business... She has almost 700 employees, a small business is considered to be less than 100 employees..

With 675 employees, if they each made only $10,000/yr. that is $6.75 million/yr. ....then add on the cost of 9 campuses and the rest of the overhead/operating expenses and you've got an over $10 million/yr. company... That is hardly a "small business"....


Furthermore, ONLY the profit earned is taxed. That means only the income that is left over after all payroll (including her own income) and operating expenses are paid... That goes straight into her pocket, not into her company.

If her income and profits from the company is $250,000. her income taxes will be raised 3% - or $7,500/yr. Her monthly income will be $20,833. and she will pay an additional $625.00/monthly in taxes.

Do you really think we are so stupid to believe that an increase of $625.00/month in taxes on a monthly income of $20,833.00 is an egregious increase?

ya gotta love republicans, they love to spend spend spend but want the middle class to pay the bill while wanting the top 10% to get a huge tax cut, the top 10% make 90% of the income yet only pay 70% of the tax, that means the middle class is stuck with the extra 20% that the top 10% do not pay - talk about redistribution of wealth

[Lady_Jean_La]

http://www.thecitizen.com/~citizen0/node/36722

It is easy to illustrate: Select any number of the richest people in modern history, then ask whether society would be better off had they never lived or had they been replaced with poor people.

Can you completely discount the extra value of Thomas Edison, Andrew Carnegie, Henry Ford, John D. Rockefeller, Bill Gates or Ted Turner? Their extra value to society is what their inventive minds and industrious spirit produced, as well as the aid their riches have given others.

[Narcissist71]

http://www.thecitizen.com/~citizen0/node/36722

Well it definitely depends on what contribution you speak of........

I could probably go through the list and find a debatable issue.

Take for instance J.D. Rockefeller.....

Standard Oil (http://www.linfo.org/standardoil.html)

if we speak of the business model that he contributed to society, I would debate whether it contributed to society in a good way.

I'm for the concept of free market, but fair market as well.

He may have done some good with the money that he gained using such unfair tactics through philanthropist work but does that outweigh the former?

We can speak of some of the wealthiest in modern history that abused workers through the use of sweatshops, child labor, and paying extremely low wages while putting the workers at serious risk to gain that wealth.

Yes there are many great contributions by wealthy, but at what means and end?

Just a thought.

[cantstandnuts]

http://www.usnews.com/blogs/risky-business/2009/04/27/whos-getting-an-obama-tax-increase.html

according to this piece.. it's not just the big businesses that will get hurt from these egregious tax increases.. pre-schools and other small businesses as well will be hit hard. imo:crying:

Where did it say other small businesses will be hit hard? This, btw, was a CHAIN of preschools. Very misleading post there, Bagerroness.

I have no problem with raising taxes of those earning big money. In fact, it's about dang time! JMO

[LauraRose]

Good! They're the ones that should pay higher, and additional taxes. That's the whole idea.

Why? and It is a bad idea............................

[Lyndawitha"Y]

Good point. The Wealthy had always benefited the country but thanks to Obama and Congress all the wealthy will be gone so all that wealth is distributed. moo everyone suffers then.

Well, its about time "everyone suffers" as it has been the middle class who has suffered for years for the many..and that lowly upper class who has sailed..maybe this will level the playing field ...It is understood that the wealthy have always had either loopholes or available write off's most havent been able to avail themselves...

BTW, your tax system doesnt affect me directly ( Canadian), however your country's economic status does...so I do have a vested interest..

LMS:laugh:

[Lyndawitha"Y]

Good point. The Wealthy had always benefited the country but thanks to Obama and Congress all the wealthy will be gone so all that wealth is distributed. moo everyone suffers then.

It's more likely the "Wealthy" will survive as very well off..just not so dis-proportionately..it's simple math really...

It seems many wish to believe that the top 10% wealthy population will dissolve to slum level..and you really have to realize that just wont happen!!! The wealthy might be worth a few million dollar's less..and the "People" just may prosper ...is that so bad?

LMS

[watcher2005]

Where do people think the money for the bailout, the stimulus, and the 3.4 trillion dollar budget is going to come from? "Rich people?"

[crazyrn]

my son, the welder, earns $11.75 per hour in a small family-run shop (less than 50 employees) in a small ohio town. last month, he & his co-workers discovered that they were being paid $19 to $25 MORE per week on their paychecks as a result of obama's tax relief plan.

most of his co-workers are staunch conservatives & yet they still complain about obama. my son has reminded them several times that he would rather get $25 more on his weekly paycheck that LESS. during the last conservative administration, pay raises were few & far between.

his job is fairly "secure" these days...he's had more overtime since january than in the last 5 years. what's wrong with this picture?

[crazyrn]

That $400 to $600 barely makes the cash George W. just one time, last year.my son got a "ONE TIME" $250 "tax rebate" from W.