Taichiliberal
Shaken, not stirred!
With all this back and forth babble regarding who has caused the most recent damage to the economy (Trump or Biden), I took a look back at a post I made 10 years ago on another discussion site awhile back. It's highly applicable to today's situation, whether as a reference point or an example of what a similar proposals can entail:
A TAXING SITUATION
Just a quick look at what the Tea Party driven Republican party in Congress and the Senate is so upset about:
The proposed tax increase by the Obama administration would essentially impose an additional 3% tax on the SECOND $250,000 made by a business. This means that a business would be taxed an additional $7,500 ... which ain't a whole hell of a lot if your business is pulling in $500,000 annually. Last time I checked, the minimum wage comes out to a little more than $14,000 a year...So using the excuse that this tax will cost small businesses jobs just doesn't add up...as most small businesses I know are NOT pulling in half a million dollars, so this tax would NOT affect them. And if $7,500 forces a half million profit business to fire people, then something is not kosher with how that owner is doing his books
Secondly, ending the Bush tax cuts (as they were originally designed to do) on the middle/upper/rich class in this country and returning to the Clinton era tax rate is NOT the end of the world. Figure it out; 39% of $1 million is $610,000! You stop paying into Social Security after you earn around $100,000. And then you have all those nice tax loopholes and write-offs. I'm sorry, but if you can't make a nice living for you and yours on $610,000 a year then you're just hard to please and/or just plain greedy!
Make no mistake folks, the inherited and corporate wealth behind the neocon/teabagger factions of the GOP are in it for complete dominance of the society...and they achieve this by putting the burden of contributing to the country's coffers on YOU!
A TAXING SITUATION
Just a quick look at what the Tea Party driven Republican party in Congress and the Senate is so upset about:
The proposed tax increase by the Obama administration would essentially impose an additional 3% tax on the SECOND $250,000 made by a business. This means that a business would be taxed an additional $7,500 ... which ain't a whole hell of a lot if your business is pulling in $500,000 annually. Last time I checked, the minimum wage comes out to a little more than $14,000 a year...So using the excuse that this tax will cost small businesses jobs just doesn't add up...as most small businesses I know are NOT pulling in half a million dollars, so this tax would NOT affect them. And if $7,500 forces a half million profit business to fire people, then something is not kosher with how that owner is doing his books
Secondly, ending the Bush tax cuts (as they were originally designed to do) on the middle/upper/rich class in this country and returning to the Clinton era tax rate is NOT the end of the world. Figure it out; 39% of $1 million is $610,000! You stop paying into Social Security after you earn around $100,000. And then you have all those nice tax loopholes and write-offs. I'm sorry, but if you can't make a nice living for you and yours on $610,000 a year then you're just hard to please and/or just plain greedy!
Make no mistake folks, the inherited and corporate wealth behind the neocon/teabagger factions of the GOP are in it for complete dominance of the society...and they achieve this by putting the burden of contributing to the country's coffers on YOU!