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ORIGINAL: bestbabync

Lady,

i am sorry to hear about your business situation.  but what you have just told me justifies my thoughts.  raising taxes on america's small business (causing them to have even less money) now can only make things worse and not better. 

if you knew that your taxes were being raised beginning in Jan 2009, how many more of your employees would you have to terminate?

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ORIGINAL: LadyEllen

quote:

ORIGINAL: bestbabync

Lady,

i am sorry to hear about your business situation.  but what you have just told me justifies my thoughts.  raising taxes on america's small business (causing them to have even less money) now can only make things worse and not better. 

if you knew that your taxes were being raised beginning in Jan 2009, how many more of your employees would you have to terminate?

Taxes are not the be all and end all though. All other factors remaining the same, increased taxes would be a problem, but if interest rates for example come down, then that offsets the effect of increased taxes. Its too simplistic to look at one aspect of the economy and draw conclusions.

And as I understood it, the tax rise in question here is hardly going to apply to small business owners so much - and even then we're talking about a minute change, not a sudden new imposition or a heavy burden that will threaten anyone's job as much as continuing with the current system or doing nothing.

As to your question, it would really depend on the size of the increase in tax. But since it would apply to everyone - all my competitors, and the tax only applies to my profit it is unclear whether any adverse effect would result at all. The next year or so will be about survival, not making profits - indeed this is why incomes are being looked at rather than business profits from which the tax take is set to fall as fewer make a profit at all.

E

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ORIGINAL: bestbabync

the tax hike has been predicted by the democratic VP candidate to begin on those earning $150,000 for a single person and $200,000 for the married.  in this country that will more than likely cause all small business owners to pay more taxes during a recession.

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ORIGINAL: mrbob726

The decreased taxes SHOULD have resulted in decreased cost of goods and services. There were a lot of other factors involved, including the cost of loans that businesses need to operate. Back in 2000, wall street and the mortgage industry was deregulated. It took a while for the results to be felt, especially because the Fed kept playing with interest rates; whenever the stock market faltered, Greenspan was right there to manipulate the money supply. Reduced taxes may not have decreased cost of goods and services, but there's no way in hell that the wealthy corporate types are going to take a pay cut (in taxes) without passing it on to consumers. My own opinion is that the socialistic interference by the government is what got us in trouble to start with. Obama isn't going to fix that; it will be the same, only much more. I will not be voting for "that one". I'm not proud of what Bush has done, but tarring McCain with the "Bush brush" isn't the answer. Now the lefties are complaining about $150,000 supposedly spent on Governor Palin's wardrobe. That's peanuts compared to the upwards of $2 million Mr. O is going to be spending out of campaign funds for a big party in Chicago's Grant Park on Tuesday night, win or lose. Did you give to Obama's campaign so he could throw a party? I live close enough to Chicago to know the kind of heavy (crooked) politico's that are supporting the "one" to know I want no part of him, or them.

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ORIGINAL: mrbob726

Quick reply to the thread in general -When Mr. Obama raises taxes on corporations and the wealthy, who in fact will pay those taxes ? The CEO's and businesses will pass them along to all of us in the form of increased cost of goods and services. In fact, an increased tax for the wealthy is an increased tax for us all. Think about it -
Edited to add, NO, I'm not wealthy, nor do I own a business.

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ORIGINAL: bestbabync

 
from what i understand personal/income tax will increase under Obama from 35% to 39.6%.   i think many foresee business owners cutting back in their business to compensate for the increase in personal tax hike.

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ORIGINAL: Sanity

It's odd that more people aren't aware that Obama's plan is the same frickin' plan that prolonged the great depression... and it's also extremely odd that so many people fear knowledge of that.

It's as though they're admitting that people have to be ignorant of such facts if they are to vote for their cult-of-personality candidate. It's like they want a faltering economy... they must figure they can cause a crash and just blame it all on Bush.

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After reading this how can you want to vote for McCain? http://www.ctj.org/pdf/obamataxhikemyth.pdf

The rest of this is just My opinion.

What most people are forgeting is that the same financial irresponcibility of the banks created the depression and tax plans and social "communism" ( neighbors helping each other)  and governments partial socialism (the new deal)  recorse rescued America from the plague of .

The banks did the same thing they did in 1929 gave out more money than they could afford to cover. 

As far as the cult of personality candidate goes... Bush was the New Elite John Wayne remember.. We didn't fuck with texas and texas fucked us so he could swim in the oil of the middle east since he couldn't seem to get his own oil companies up.

Now we actually have a candidate who IS actually for the people and fixing the economy and getting money back into circulation i.e your pockets you hate him more. It makes no since.

I guess the saying "the devil you know.."  means we're all willing to face poverty, famine, and national humiliation than have a black man in office.

(in reply to Sanity)