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The unemployment picture is getting worse by the day. According to CNN, 41 states lost jobs (private and public) in September. The unemployment rate is rising. In September, it reached 5.4%. According to the Newsweek, this rate is artifically low.
Small businesses create jobs in good times and bad times. And the small businesses that are most likely to hire: the ones that net over $250k. After all, they contribute 57% of small business tax revenue. And that's just at the federal level. There are myriad taxes on small businesses.
Voting to burden small businesses with higher taxes and healthcare mandates will eventually backfire on Americans who depend on employment - precisely when employment is already hard to find.
The unemployment picture is getting worse by the day. According to CNN, 41 states lost jobs (private and public) in September. The unemployment rate is rising. In September, it reached 5.4%. According to the Newsweek, this rate is artifically low.
Small businesses create jobs in good times and bad times. And the small businesses that are most likely to hire: the ones that earn over $250k. After all, they contribute 57% of small business income. And that income is already taxed in myriad ways.
Voting to burden small businesses with higher taxes and healthcare mandates will eventually backfire on Americans who depend on employment - precisely when employment is already hard to find.
1) There is no relationship between tax policy and unemployment. This is a right wing myth.
Washington Post
""When President Bill Clinton raised taxes in 1993, the unemployment rate dropped, from 6.9 to 6.1 percent, and kept falling each of the next seven years. When President Bush cut taxes in 2001, the unemployment rate rose, from 4.7 to 5.8 percent, then drifted to 6 percent last year when taxes were cut again. ""
"The fact of the matter is, we have much higher rates of employment today than we did in 1954, but our level of taxation is considerably higher," said Gary Burtless, a labor economist at the Brookings Institution. "You simply can't look at total taxation to find employment levels."
"some prominent conservative economists, including Harvard University's Martin S. Feldstein, predicted wrongly that the Clinton tax cuts would choke off the 1990s recovery and kill jobs, while the millions of new jobs that Bush said his $1.7 trillion in tax cuts would generate have not materialized. "
2) His tax plan only effects 1.4% of small businesses profiting over $250K
Barack Obama: “I will eliminate capital gains taxes for the small businesses and the start-ups that will create the high-wage, high-tech jobs of tomorrow.”
Quote:
Barack Obama believes that we need to encourage investment in small businesses to help create jobs and turn our economy around. That’s why Obama will eliminate all capital gains taxes on investments made in small and start-up businesses. Unlike John McCain, who wants to give $200 billion in new tax cuts to America’s largest and most profitable businesses, Barack Obama wants to cut taxes for the small businesses that create jobs but struggling with restricted access to credit alongside skyrocketing health care and energy costs.
He is focused on small business while McCain is focused on Multinationals
The unemployment picture is getting worse by the day. According to CNN, 41 states lost jobs (private and public) in September. The unemployment rate is rising. In September, it reached 5.4%. According to the Newsweek, this rate is artifically low.
Small businesses create jobs in good times and bad times. And the small businesses that are most likely to hire: the ones that earn over $250k. After all, they contribute 57% of small business income. And that income is already taxed in myriad ways.
Voting to burden small businesses with higher taxes and healthcare mandates will eventually backfire on Americans who depend on employment - precisely when employment is already hard to find.
Only PROFIT is taxed, NOT income. Are you talking about corporate rates or individual taxes? In an individual who owns an s-corp or LLC is taxed on PROFIT over $250K, that is somehow a problem? If they do not want to be taxed, then they can take some of that $250K profit and put it toward expanding their business or hiring more employees. Then their profits will be minimized and they wont have to pay such high taxes, while encouraging investment in the future. Great idea Obama!
Only PROFIT is taxed, NOT income. Are you talking about corporate rates or individual taxes? In an individual who owns an s-corp or LLC is taxed on PROFIT over $250K, that is somehow a problem? If they do not want to be taxed, then they can take some of that $250K profit and put it toward expanding their business or hiring more employees. Then their profits will be minimized and they wont have to pay such high taxes, while encouraging investment in the future. Great idea Obama!
Yeah thanks Obama we wouldn't have known we could expand a business. But thanks to your extra taxes we now know we can expand a business!!
Thanks big daddy O!!!!!!
Yeah thanks Obama we wouldn't have known we could expand a business. But thanks to your extra taxes we now know we can expand a business!!
Thanks big daddy O!!!!!!
LOL its called "paying your debts" and not leaving them for your grandchildren to pay. No one likes taxes, including Democrats. However, we are the fiscally responsible party who knows that 1 - 2 = -1. Yeah, if you're in a war at the tune of $13 billion per month, you're in debt to the evil Chinese government for trillions of dollars, and you're experiencing huge inflation because of that debt, dont you think its time we figured out how to pay for all this? Sorry if Obama deals in reality and not in credit cards for the US government.
Only PROFIT is taxed, NOT income. Are you talking about corporate rates or individual taxes? In an individual who owns an s-corp or LLC is taxed on PROFIT over $250K, that is somehow a problem? If they do not want to be taxed, then they can take some of that $250K profit and put it toward expanding their business or hiring more employees. Then their profits will be minimized and they wont have to pay such high taxes, while encouraging investment in the future. Great idea Obama!
Encouraging businesses to expand and create jobs???? He's out to destroy the world with that kind of thinking! LOL
You need to not listen to what he says and look at what he means.... Because he is duping everyone .
And McCain isn't? Tell me what his positions were in 2000 compared to today......... pretty much the EXACT FREAKIN' OPPOSITE! And who's being duped?
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