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With the Increased corporate and investor taxation the pricing passed to the consumers will far outweigh the welfare, i mean tax credit checks obama will be sending out. Most people seem to not consider the fact the rich, the corporate giants do not pay taxes, they include them in product pricing. Its all a cost of doing business not a penalty to them. Raising these taxes is raising the cost of living for the poor and middle class period.
Redistribution of wealth is proven to make nobody rich, it is only possible to make everyone poor. Simple economics proven time and again as taking away the ability to become wealthy takes away all motivation to do anything.
I wish McCain would push a flat tax and eliminate corporate taxes, then we would see a rash of spending and prosperity never before realized after that second world war. Taxing the country into submission is not the way to move forward.
its not like the corporate tax policy is working in the first place
Between fiscal years 1998 and 2005, two out of every three U.S. corporations paid no federal income taxes.
http://www.shortnews.com/start.cfm?id=72679
to be honest its not all black and white, but rather lots of shades of gray. both obama and mccain are overpromising in different ways to keep their agenda rolling. neither will be able to afford the implementation once in power. its an election thing…
@allfreechips 182414 wrote:
With the Increased corporate and investor taxation the pricing passed to the consumers will far outweigh the welfare, i mean tax credit checks obama will be sending out. Most people seem to not consider the fact the rich, the corporate giants do not pay taxes, they include them in product pricing. Its all a cost of doing business not a penalty to them. Raising these taxes is raising the cost of living for the poor and middle class period.
Redistribution of wealth is proven to make nobody rich, it is only possible to make everyone poor. Simple economics proven time and again as taking away the ability to become wealthy takes away all motivation to do anything.
I wish McCain would push a flat tax and eliminate corporate taxes, then we would see a rash of spending and prosperity never before realized after that second world war. Taxing the country into submission is not the way to move forward.
If the GOP economic policies held any water they’d win the election hands down.
I’m voting for McCain. There’s no way Obama can do everything he’s promising, it’s impossibe. I can’t believe how the media has brain washed so many people! Yes things are bad now and I can see why people want a change but raising taxes=higher prices=less spending=more unemployment. You don’t create wealth that way, only welfare. You create wealth with jobs.
Do you know under the Bush tax cuts ther was a 19% increase in revenue to the goverment over the beloved Clinton years?
Less tax = more spending = more revenue. Simple Simple Simple
Dem Congress / Dem President = complete over taxation and implosion of economy. Look how good just 2 years of Dem congress has done with it so far
@allfreechips 182423 wrote:
Do you know under the Bush tax cuts ther was a 19% increase in revenue to the goverment over the beloved Clinton years?
umm…so?
…pause…
and where are you now?
i mean, kudos to bush for increasing revenues, but apparently the spending has been dramatically increased which can’t even be compared with that 19% increase (assuming its true). so who gained?
@Sunflower 182422 wrote:
I’m voting for McCain. There’s no way Obama can do everything he’s promising, it’s impossibe. I can’t believe how the media has brain washed so many people! Yes things are bad now and I can see why people want a change but raising taxes=higher prices=less spending=more unemployment. You don’t create wealth that way, only welfare. You create wealth with jobs.
i admire your patriotism! and without further a due OECD report ranks US third worst in inequality and poverty … cool, eh?
Oh you may have not noticed the 911 attacks and such.. to bad Clinton didnt clean that up when he had a chance 5-6 times I believe it was.
And yes welfare lends itself to poverty.. thats why it needs to be corrected as soon as possible. Any idea where the Patriots became a staple in this country? Unline Joe’s thoughts that it means we should pay higher taxes, it was in revolt of paying taxes.. interesting is it not?
So the world economy is deflating and you folks are worried about tax increases causing consumer inflation?:sarcasm:
You might want to note, that inflation during the clinton administration, and economic growth was better than Nixon, Reagan or either Bush.
Keep living in your world of delusion, where economic facts play no role in your rhetoric. Republicans cut taxes for the rich and run up huge deficits, democrats roll back irresponsible tax cuts and balance the budget. Too bad the truth goes against your politcal affiliations.
So lets say qwe pay 100% in taxes, you get to eat and live on the goverments spending. What is you motivation for doing anything?
Democrats rely on buying their control with forcing dependance on the goverment plain and simple, Republicans want the goverment out of the way (or athey are supposed to) and let responsibility fall in the hands of citizens.
As long as you pay people to sit on their ass and be lazy your going to have a lot of lazy people sitting on their ass with their hand out.
Now this is a true story that I witnessed, not second hand.
I am in line at my local grocery store, the lady in fron of me dressed up very nicely is arguing with the girl at the register that some of her items will not allow her to use the food stamp card she has.. so she buys what she can an leaves. I but my stuff and go out to the lot to see this very same lady getting into a Lexus not more than 2 years old.. Now this is when I am working two jobs and driving what many would call a beater around in order to keep my kids in a good school stytem and house. So if you want to talk poverty you can kiss my ass that I am paying for these leeches on society and the Democrats sell this shit for votes.
Excellent example 100% tax rate, because that’s a number that is so realistic…:sarcasm:
The top Tax personal tax rate in the US is 35%, it was 38% under clinton, bush and reagan. I think the country and the world can handle it. We live in a world where other wealthy nations pay higher taxes than the US, often 50% or more at the top rate. The idea that Americans are overtaxed is riduculous. It’s the same as the other republican garbage about how we shouldn’t have a minimum wage or healthcare or environmental laws, etc. because it makes us uncompetitive.
what a crock.
BTW please explain how:
Yeah cant wait to get a 62% federal tax on my small biz
Why would a small business have 62% tax rate? why would you not run as an S corp or an LLC so your rate maxes out at 35%? If you choose to operate your business in entity that is taxed at 62%, then you ought seek a new tax advisor.
@AmCan 182459 wrote:
Excellent example 100% tax rate, because that’s a number that is so realistic…:sarcasm:
The top Tax personal tax rate in the US is 35%, it was 38% under clinton, bush and reagan. I think the country and the world can handle it. We live in a world where other wealthy nations pay higher taxes than the US, often 50% or more at the top rate. The idea that Americans are overtaxed is riduculous. It’s the same as the other republican garbage about how we shouldn’t have a minimum wage or healthcare or environmental laws, etc. because it makes us uncompetitive.
what a crock.
BTW please explain how:
Why would a small business have 62% tax rate? why would you not run as an S corp or an LLC so your rate maxes out at 35%? If you choose to operate your business in entity that is taxed at 62%, then you ought seek a new tax advisor.
Read the Obama tax plan and get back to me on how you will be paying up to 62%, also 100% would be the perfect democratic tax plan, they however should be deciding on who gets what to make it fair correct? Im just going by the beliefs not reality.
Taxes on small businesses could be as high as 62.3%: Most Americans would agree that paying more than 50 percent in taxes is simply too much. Yet, Senator Obama’s plan calls for tax increases that would raise total tax rates to well over 62 percent for millions of small businesses.
Fact: Under Senator Obama’s proposed plan, “The top 35% marginal income tax rate rises to 39.6% adding the state income tax, the Medicare tax, the effect of the deduction phaseout and Obama’s new Social Security tax increases the total combined marginal tax rate on additional labor earnings (or small business income) from 44.6% to a whopping 62.3%.” (Michael Boskin, “A Closer Look at Obamanomics.”)
Fact: “The business income from sole proprietorships, farm proprietorships, partnerships, S corporations, etc., is all taxed at the owners’ individual income tax rates. This year 34 million business owners are expected to receive this type of income and pay tax on this income through the individual income tax. These businesses are typically small and often entrepreneurial in nature, and a source of innovation and risk-taking in the economy. Moreover, these business owners are frequently subject to the highest individual income tax rates.” (” Topics Related to the President’s Tax Relief,” U.S. Department of the Treasury, May 2008)
Fact: “About one-third of the workers affected by raising the Social Security earnings cap would be small business owners.” (Michael Tanner, “Keep The Cap,” The Cato Institute, http://www.cato.org, 6/8/05)
@Sunflower 182422 wrote:
I can’t believe how the media has brain washed so many people! Yes things are bad now and I can see why people want a change but raising taxes=higher prices=less spending=more unemployment. You don’t create wealth that way, only welfare. You create wealth with jobs.
I don’t think that people losing their jobs and homes and having affiliate income sucked down each month are as brainwashed as you seem to want to think, but I’m sure that view is not shared by you alone.
@allfreechips 182442 wrote:
So lets say qwe pay 100% in taxes, you get to eat and live on the goverments spending. What is you motivation for doing anything?
Let’s say we build and Island for those that feel that way and see how it works for ya and then you can tell us the motivation. :hattip: LOL
Under Senator Obama’s proposed plan, “The top 35% marginal income tax rate rises to 39.6% adding the state income tax, the Medicare tax, the effect of the deduction phaseout and Obama’s new Social Security tax increases the total combined marginal tax rate on additional labor earnings (or small business income) from 44.6% to a whopping 62.3%.” (Michael Boskin, “A Closer Look at Obamanomics.”)
too bad that’s all BS. Today the top rate federal earned income is 35%, it will go to 39%. State taxes are the business of each state, not barack obama, some states have 0% income tax. Any raise in SS and Medicare doesn’t affect you since its on earned income, if you take income for S Corp/LLC it’s K1 income, which is not earned income, so that claim is also wrong.
It’s not very hard to read that paragraph and see that a small business person who has any clue of how to organize to reduce their tax burden would see their rate move from 35% to 39%. You pay yourself $100k a year, where you pay SS and Medicare tax, then the rest as dividend(schedule e actually) which would be taxed at 28% and 39%. If your state taxes are too high, change your state government.
