PICK3
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Bro, I'm going to let you in on something. Your under informed. You have no dog in the hunt. You are just a broken record for talking points.
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Bro, I'm going to let you in on something. Your under informed. You have no dog in the hunt. You are just a broken record for talking points.
Bro, I'm going to let you in on something. Your under informed. You have no dog in the hunt. You are just a broken record for talking points.
1. STATUTORY VS. EFFECTIVE TAX RATES Google it. you dont know the difference. 35% is the statutory. NO corporation pays that. NoNe... Period.1) 35% top rates scheduled to go to 39% are uncompetitively high. Which part of that number is throwing you off? The tens digit or the ones digit?
2) I'm pretty sure I'm not the only one who knows about the "scheduled" upcoming EPA regulations. I have a sneaking suspicion that businesses actually plan for things like this before they hit.
Unions don't do that much damage -- Other than poisoning our public education system, destroying our domestic car market, crippling our airline industry, running-off domestic steel production, driving-up metropolitan construction cost and polluting our public workforce (which is entirely too large anyway). Oh yeah... and they're in the process of running the domestic jet airplane manufacturing industry outside of the US.
And why am I not surprised that you think BarryCare is all about insurance companies? Barrycare screws everyone: Hospitals, doctors, patients, insurance companies, medical companies and taxpayers.
3) Small businesses don't have customers because people don't have jobs and because even people with jobs are hunkered-down waiting for the economy to get going again. And under this regime, it's not going to happen anytime soon.
I grew up in a small business which became a medium-sized business. Then became my own small business owner. Then became a member of a very large business (GE). And now I'm back with a medium-sized business. Large businesses will always have the most flexibility in dodging taxes, regulation and torts. Small business will always have the least. And when large businesses sneeze, medium-size businesses catch a cold and small businesses get pneumonia.
I can't expect you to understand this so if all else fails, blame Bush, the banks, Israel, Wall Street, CO2, pesticides and insurance companies.
1. STATUTORY VS. EFFECTIVE TAX RATES Google it. you dont know the difference. 35% is the statutory. NO corporation pays that. NoNe... Period.
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neither do they in foreign countries where the rate is lower - that is the whole point. Google it.
My US based S Corporation pays 0% tax. As do all S Corporations. The us tax code isn't destructive to small business. Poor decisions and tax structures are.
You Dont have an excellent Accountant.We're all debating this thing, and I'm going to make one statement which is simple HARD FACTS: My wife and I operate a small business (farm) in SoCal. We gross (x) per year. We have an excellent accountant, and we are taxed at over 45% of gross... NOT NET. This includes federal, state county, city taxes, plus EPA fines & fees (unavoidable), and permits to operate, permits to possess chemicals, permits to buy red fuel for the equipment, and C.A.R.B. fees to possess tractors and heavy equipment. Those agencies are all unnecessary twittle-thumbs offices for the purpose of making "created government jobs", which are ruining MY ability to hire people. ALSO FACT: We pay $20.00 per hour for an employee who earns $10.00 per hour. In other words, if we can afford a certain number of employees now, we could hire exactly twice as many people TODAY if we did not have to pay all that employment crap. None of it is needed, IMHO.
So we can debate 'til the sun burns out about politics, but the bottom line is that I will hire more people immediately when I do not have to pay 200% of my workers' salary.
Just FYI, we are an S corp, and we haven't drawn a penny of salary in 6 years.
Charles
You Dont have an excellent Accountant.
And these numbers you put up about your farm, How long has in been like that? I am willing to bet it has been years before Obama. Not to mention CA is one of the worse in taxes. And I am sure most of those Taxes are State NOT federal.
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oh.. you don't pay taxes on the income from that corporation??