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Obama will put small business out of business, he will destroy the economy. He knows nothing about business, wants to take from the rich and give to the poor. That is Socialist. If you really researched his associations and who he has been hanging around with you would not vote for him.
Here's a perspective I discussed with my neighbor across the street, a good friend of mine who was going to vote for Obama, but is now resonsidering after our conversation. The conversation was much more detailed, and this post will be brief.
I own 2 businesses, which employ hard working tradesmen and women as well. I also have a large investment in the stock market which gives me roughly 30% of my income in the form of dividends. I fall squarely into the income bracket that Barack Obama has said he will raise the taxes on. If he does so, here's what will happen:
I will not only decrease my investment substantially in the stock market (since the capital gains tax will increase), which will mean I'll have to derive more of my income from my business. That means I'll have to reduce costs. Since I am dominant in my industry, I already enjoy the benefit of having the lowest cost for material of just about anyone, so the next thing to cut will be manpower. How many will I have to lay off because of the increased taxes to my business? Who knows...maybe half?
Now if you want something scarier than Sarah Palin (as one poster claimed), multiply this scenario by millions of business owners just like myself across this country. If you are voting for the economy and the economy alone...I can guarantee you Barack Obama is not your choice. He will raise the taxes that will crash this economy further than it is already. I am not stating personal opinions of this man, only the facts based on his plan to raise taxes.
What good will it be to lower taxes for 95% of Americans, when the 5% of us who employ them will end up having to lay off 50% of that 95%?? That is an extreme ratio, but you get the picture. If taxes are raised, this will happen. Anyone remember the Jimmy Carter days?
Not telling you how to vote, just telling you to think about things a little harder...it's not as rosy and as simple as just "lowering taxes" for people. For the record I live in a 1400 sq. ft. house, not a mansion in Ponte Vedra, so don't throw me into the rich snobby pile. The homes in my neighborhood are in the $180k range....I choose to put my money back into my business by paying my people higher wages and hiring more people to ease the workload for all my employees. If you think there aren't milliions out here just like me, you are only kidding yourself.
Thank you ShakenStirred! I'm a former business owner and I concur. It would be heartbreaking to have been forced to lay off any of our employees. My ex and I did the same thing you did. Lived beneath our means to pay our employees more and give them more benefits. In return they were extremely loyal to us and to the company. We had a waiting list of people wanting to work for us. Every penny of "profit" went back into purchasing inventory and office equipment. Taxes were horrendous then. That's why I haven't started a business since I moved back to Florida - TAXES!
Taxes stiffle small business growth. Small businesses can't afford in-house accountants and in-house tax attorneys like the big corps can and the govt knows it. That's why they target small businesses for audits. I know that personally and professionally.
I'm not undecided, I am definitely decided, but I'm still listening to everyone and will do so all the way to the end.
Joe Biden has a way with words. During the primary he said disparagingly of Obama (and I quote) "the White House is not a place for on-the-job training".
In case we forget, Joe Biden is Obama's vice presidential candidate.
Four years in national politics and two of those years preparing to be President of the most powerful nation on earth. This is the main reason I am still struggling to make my decision in this election. (And please don't bring up Palin to make a point, we're talking here about the top of the ticket).
Unlike my friend Riv, I am still undecided. And like Riv, I'm still listening to everyone though I didn't make it to the rally.
Last edited by cricketfan; 09-20-2008 at 02:53 PM..
If you will be affected by Obama's tax plan, then you must be making an income of $250k or greater. If you decide of your own free will to pull your money out of the stock market and take an income hit of 30%, that will still leave you with an income of $175k...not too shabby by most standards. Can you not live comfortably on $175k a year? You'd have to cut employees so you can recapture their salaries and get your income back up to $250k? You said you can retire right now if you wanted to, so the necessity is not computing for me.
It's actually a good example of how trickle-down economics don't work, it's time to trickle-up!
95% of Americans are not making $250k or more per year, so Obama's tax plan benefits them. I don't think people need to be in fear that if the $250k+ crowd has to pay more taxes they will suddenly lose their jobs. In order for the "bosses" to earn a living, they are reliant on the "labor" of the workers....no labor, no product, no profit .
Forget the Jimmy Carter years, let's go back further, let's talk French Revolution! :
Riveree and the rest of you who do not understand how small businesses work:
Small Business Taxes-1.01
Most small businesses today are incorporated as "S" Corporations. That means the owners pay income taxes for themselves and the business. So if you pay yourself $100k (Most small business owners would die to be able to pay themselves that! $50-$80k is more like it.) and the company makes $150k on paper, since you are an "S" Corporation, according to the IRS you made $250k and youpersonally pay income taxes on $250k. Of the $150 corporate "profit" you might advertise (that is not an expense according to the IRS and it is taxable), buy a copier, a couple of new computers, (IRS taxes you on office equipment) hire someone, buy or lease them a company car, or buy accounting software to help do your taxes ($90k is the going rate for decent software, a far cry from the best) and the rest goes to inventory. You are faced with choosing what you need the most because $150k won't go far in business expenses. Without inventory you have nothing to sell. Now what do have left? Are you living off $250k? No. I can tell you you are living off of your net salary after taxes. (Yes, you could spend the $150 but what would you sell if your shelves are empty? That's how people bankrupt their small businesses - greed.)
How about your Accounts Receivable? IRS says they are assets and therefore taxable because you can sell them to collection agencies for a fraction of their value if you are desperate for cash. How does this fit in with your $150 profit? Well, the IRS dosen't care if customers owe you a total of $10k to $100k unpaid. You sold them $xxx.xx and billed them, therefore you made profit in their eyes. You are so taxed. Spend that.
Like I said it's a paper profit.
Raising taxes hurts small businesses. Period.
I am qualified to make that statement.
Landshark having had a small business myself I understand and the IRS needs to streamline their tax laws regarding small businesses. That being said I would have to investigate Obama's tax plan to see how it does effect small businesses.
Back to the topic at hand I'm quite surprised to see this poll almost evenly split since I always considered JAX to be a conservative city compared to the other cities in Florida.
If you will be affected by Obama's tax plan, then you must be making an income of $250k or greater. If you decide of your own free will to pull your money out of the stock market and take an income hit of 30%, that will still leave you with an income of $175k...not too shabby by most standards. Can you not live comfortably on $175k a year?
Will we ever stop the "you make too much money" nonsense?
If the president had two women in his cabinet and I said that was too many and that one should be enough, you might call me sexist and you would be right.
If a company had three black vice presidents and I said that was too many and that two should be enough, you might call me racist and you would be right.
If you said you were dating three people and I said that was too many and you should only date one at a time, you might say it's none of my business and you would be right.
But if I say I make $250K and you say $175K is enough, why is it that so many people find that perfectly acceptable?
When our republican president and democratic congress came up with the wonderful economic stimulus plan, they handed out money to those who made around $175K or less. Those who made more got nothing. Do you really think $250K is going to be the magic number? Oh, and by the way, that worked well, didn't it?
I personally think both McCain and Obama know almost nothing about the economy. They are going to have to rely on real business people to get it right. Both candidates have good business people supporting them so let's hope whoever wins picks the right people so we can get this economy going again.
But whatever happens, I wish we could stop the class warfare! No, I personally don't make anything close to $250K in case you are wondering. For those who really want to learn more about who pays the taxes, here is a link you might find useful.
If I take home $100K and give $25K to charity and to support my aging parents who didn't plan for their retirement, am I better than a person who takes home $75K and spends it all on themself?
The answer?
It's none of my business and it certainly isn't the government's business either!!!
I like KerryB consider myself a Libertarian, but I am forced to vote dummy A or dummy B. I wish for more than a 2 party system and Fair Tax... but neither of these will happen. So until then, I am voting for whom I feel I identify closer with. I am a registered Dem., but Ron Paul would have most likely had my vote. I am off to use "The Google" to find more info on Biden, like you Riv, I would like to know a bit more.
Interesting post. How did your business fare during the Clinton years? A democrat president who did a lot for the economy.
My business did not exist during the Clinton years, but I will say this...Clinton was very conservative when it came to economic issues, and the Republicans had control of the House and Senate, and because of Clinton's willingness to work with them, things got done for the better of the county. And I agree...Clinton was great for the economy, far better than Bush, Jr. But Obama is not Clinton, nor will he be able to lead as Clinton did. I am not the "hardcore" type of Republican who cannot admit that Clinton was a good President, he was.
During the Clinton years I was making $8/hr. and was $40k in debt. It was a scary time for me, but I came up with a plan, and fought my way out to where I am today. Ultimately, my success had nothing to do with Bush, Clinton, Baby Bush or any politician for that matter. I took matters into my own hands and did not rely on the government to solve my problems or get me out of my situation like so many people in America seem to want to do these days.
I disagree with the Republican Party on many issues, trust me. I don't have a choice though, I have to vote for my priority, which is the economic viability of my company which is the support system for my family, my employees and their families as well. I don't mean this as derogatory, but if you do not own your own business, and many people don't, it is very difficult to grasp the implications of these tax increases, and I understand that totally. 8 Years ago I did not understand them as I do today. I also understand that may not be your issue of priority, and that's ok. That's what makes this country great, right?
Interesting...you seem to highly favor Jacksonville over Miami.....is this correct?
Jacksonville has been a Republican stronghold for quite a few years, what has been the primary party control in Miami? I am not being a smart aleck, I honestly don't know.
Quote:
Originally Posted by miamisean
i am a cuban-american, miami native, lived all over the world, and grew up primarily in jacksonville; and i'm not military!
there are differences in jacksonville and miami, obviously, but in so many ways
not really. it suprised me how all this negativity is towards jacksonville. it is a melting pot that not one neighborhood is one or the other. mind you, i don't like the rednecks and never saw one till i was 15 yo, how confused was i?
they are spill overs from georgia and alabama. they look for the same as any other coming form another land: freedom to be who they are and to blend in at the same time. i consider miami and jacksonville home. jacksonville/st. augustine is the oldest in the country. jacksonville was changed to the current name after florida became a u.s. territory. so it's not a young city as one stated. it has an up and down history like that of any european city. it's just not in your face and 'look at me' like the younger cities now; in your face. jacksonville has brick buildings older than miami!!
as for politics, jacksonville is a work in progress. being older, it still has that civil war-era smell of good ol' boys. but it's changing. politics are in your face and media is on it; not buried in corruption and secrecy like miami-dade.
one city, one mayor. why do we have 2 mayors in miami-dade anyway? talk about waste. other cities stopped construction due to ****ty economy. miami? keeps on building at tax payers expense.
POLITICS:
obama is the man! mccain is unsure and here, then there. palin is an uneducated spit-fire/pawn to suck up on the hillary loss.
wake up. miami is miami and segregated. jacksonville is the largest city in area in the country, so it is spread out-BUT- has the largest park system in the country, and is the most eco-conscience city in florida.
the history there goes back through european settlement, 500+ years, so many breads and colors are going to be so americanized. it's an old city with a newer face. it burned down in 1901, remember? one of the worst disasters in american history. miami was 5 years old.
there is no one or the other, and actually jax is one of the most diverese, non-stereotypical cities. they have problems, but what city doesn't?
that's one thing i do miss about jax, it's in your face and media on it, miami, bury it and cover it. they get richer, the rest get poorer, and everyone smiles at the sunrise after a big party on ocean drive amongst the street sweepers and trash, and those passed out in the allies.....
now one of the two fix our damn economy, so i can get a new job! this lay off sucks cheap rocks!!
be smart, vote obama, don't be one sided and speak ill about a community you don't even know....mccain-like isn't it?
i am miami, but i too, am jacksonville...both are dear to me in simular, but different ways. don't mess with the 904 or the 305!! where ever you are, one will always be near. cuidado....go democrats!! democracy is the only way to peace.
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