1.4% of small businesses would see a tax increase under Obama

O

Onceler

New member
The rest would not be affected by his tax increase, including Joe the plumber:

"the lion's share of taxable income comes from a small number of wealthy businesses. Out of 34.7 million filers with business income on Schedules C, E or F, 479,000 filers fall into the top two brackets, according to an analysis of projected 2009 filings by the nonpartisan Tax Policy Center.

The other 34.3 million - or 98.6% - would be unaffected by Obama's proposed rate hike.

That includes Joe "The Plumber" Wurzelbacher, whom McCain invoked nearly two dozen times at the debate Wednesday night to illustrate the plight of the average worker and small business owner. "

http://money.cnn.com/2008/10/15/smallbusiness/small_biz_taxes_factcheck.smb/index.htm


Guess what? That isn't stopping McCain & Palin from turning the campaign into a referendum on the huge, debilitating tax increases that Obama will inflict on Joe & so many other small businesses....
 
That was probably my favorite part last night where Obama actually answered McCain's pointed question about how big his fine would be. "I'll tell you exactly what his fine will be. Zero"

Then McCain was all, "WHAT WHAT WAHT?! ZERO?!!"

Obama: "Yes, zero."

[ame="http://www.youtube.com/watch?v=EASpPlcVbdI"]YouTube - MCCAIN'S DEER IN HEADLIGHTS MOMENT[/ame]
 
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This is really simple math guys. Obama has proposed close to a trillion dollars in spending... where is the money going to come from? There are not enough "rich folks" to pay for what he has proposed. Also, when he raises the capital gains taxes, he will effectively kill revenue, as this has always been the case when cap gains are raised. So he is actually going to have less money coming in, but plans to increase spending by a trillion dollars? That makes no sense, unless he is going to pile it on to the already massive national debt.
 
"where is the money going to come from? "

Leaving Iraq, closing corporate loopholes, raising taxes on those over $250K. He is also talking about other spending cuts on the trail.

Pay attention.
 
Onceler said:
"where is the money going to come from? "

Leaving Iraq, closing corporate loopholes, raising taxes on those over $250K. He is also talking about other spending cuts on the trail.

Pay attention.
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I've been paying attention, you have the problem.

The money we are spending in Iraq is money that doesn't exist. It is simply adding to the national debt. Regardless of who is president, we are going to leave Iraq, so this is totally irrelevant to cashflow.

Any time you close a corporate loophole, you can count on cutting jobs and growth. Anytime we have ever increased taxes, we have decreased revenue. In the economy we currently have, we can ill afford to cut jobs and growth. Spending cuts are fine, I have not heard one specific thing Obama plans to cut. I keep hearing platitudes, but no specifics. Oh, I hear all about how he will spend money to give us stuff, I just don't see where this money is going to come from, it certainly won't come by cutting jobs, growth, and revenues.
 
"it certainly won't come by cutting jobs, growth, and revenues."

Did you even bother to read some of what Obama is proposing for small business that I posted on the other thread?

Dixie, there is a reason that you only hear "platitudes." It's because you choose to only hear platitudes, and cover up your ears regarding anything that Obama proposes that makes sense. All you have to do is look at his website, or actually listen to his answers during a debate.

It's pretty clear at this point that you're clueless about both his tax plans & his plans for small businesses, which are very pro-growth.
 
Onceler said:
"it certainly won't come by cutting jobs, growth, and revenues."

Did you even bother to read some of what Obama is proposing for small business that I posted on the other thread?

Dixie, there is a reason that you only hear "platitudes." It's because you choose to only hear platitudes, and cover up your ears regarding anything that Obama proposes that makes sense. All you have to do is look at his website, or actually listen to his answers during a debate.

It's pretty clear at this point that you're clueless about both his tax plans & his plans for small businesses, which are very pro-growth.
Click to expand...

Yes, I have read everything Obama is proposing. Free this, free that... it ALL costs money! Money we don't have! It sounds great! Pinheads like you lap it all up, and think this is the Messiah you've all been waiting for, but he hasn't shown us where the money is going to come from, other than to say he plans to increase the taxation on people who make over $250k, as well as increases in estate tax, capital gains, and other forms of tax mostly associated with the "wealthy" in America. The problem is, when you increase taxes, you decrease revenue. Do you not get that? It's a frickin' FACT! He can't create this money to do all these things, by increasing the tax rates on people over $250k, it will not generate more revenue, it will result in LESS! So, how is he going to pay for almost a trillion dollars worth of goodies he's promised?
 
"Free this, free that... it ALL costs money"

No, you have not read his plans at all. You're clueless, and just going off your generic impression of "a liberal."

Obama is proposing tax breaks, training, healthcare cost savings & other measures to help SMALL BUSINESSES GROW. Grow, as in create new jobs, and by doing so, grow the economy. When the economy grows and more people are working, the gov't collects more income tax revenue, as well as sales tax revenue when people are working & have more to spend.

I shouldn't have to waste time teaching basic economics to you. Please feel free to continue to plug up your ears & warn us all about Obama turning America into Thunderdome.
 
Onceler said:
The rest would not be affected by his tax increase, including Joe the plumber:

"the lion's share of taxable income comes from a small number of wealthy businesses. Out of 34.7 million filers with business income on Schedules C, E or F, 479,000 filers fall into the top two brackets, according to an analysis of projected 2009 filings by the nonpartisan Tax Policy Center.

The other 34.3 million - or 98.6% - would be unaffected by Obama's proposed rate hike.

That includes Joe "The Plumber" Wurzelbacher, whom McCain invoked nearly two dozen times at the debate Wednesday night to illustrate the plight of the average worker and small business owner. "

http://money.cnn.com/2008/10/15/smallbusiness/small_biz_taxes_factcheck.smb/index.htm


Guess what? That isn't stopping McCain & Palin from turning the campaign into a referendum on the huge, debilitating tax increases that Obama will inflict on Joe & so many other small businesses....
Click to expand...

OMG! that commie antibusiness Obama.
 
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