BenevolentM -> RE: Why do we fear taxes? (7/18/2012 8:36:06 PM)
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quote:
ORIGINAL: cloudboy quote:
taxes. As a small business proprietor, taxes are a very hot issue to me. If the rates are too high, it can really affect my bottom line. Also, I have a rental property. I pay property taxes, have local regulations to comply with, and then get to pay 45% of all my profits to SS, local taxes, and federal taxes. A modest $7,000.00 a year profit quickly gets whittled down to just $3,850.00. Taxes can kill the goose that lays the golden eggs, so figuring out the right tax rates is very important. Point well taken. One of my concerns is the lack of transparency. It is difficult to say exactly how much we are taxed. I also feel that there is a great deal of things the government is doing that technically aren't considered taxes, but are in fact taxes. Our taxes may be as high as what Europeans pay in taxes without the benefits.
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