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Great post.. more power to them. America needs more creative hard working people. Being rich is just a byproduct of success. Not everytime but often. It's not money we chase.. it's that battle within to be the best.. money is a byproduct. Without it, we lose our incentive.
Money is not everything, but it's way ahead of whatever is second best.
If Obama gets elected and people who make over $250k (or whatever the # is) get taxed at 50% why work hard?
What's the point? We lose our incentive to work hard.
I think this is one of the defining liberal vs. conservative arguments and I'd love to hear the liberal side.
Whaaa?!...
I think the majority of the population has, will lose or lost their incentive to "work hard" because of income taxes on labor whether it be on 250k or even 50k.
Besides, what does "working hard" constitute to you anyway?!
the people that work the hardest are at the bottom. as your rank and salary go up so does what is expected of you. extreme socialism is bad for incentive , you are so right, however 90 million buck golden parachutes for CEO come on. give the little guy a break huh?
the people that work the hardest are at the bottom. as your rank and salary go up so does what is expected of you. extreme socialism is bad for incentive , you are so right, however 90 million buck golden parachutes for CEO come on. give the little guy a break huh?
The people at the bottom don't always work the hardest
I have caught janitors doing a lot more socializing than higher ups.
$250K income for a business owner would be considered a lousy first year start.
After all the overhead and expenses are paid he might take home $30k after taxes.
So Obama wants to cut that take home another 50%. That would mean the new business owner would make around $15K to support his family. Isn't that below poverty level for a family of four ? Yeah, thats a great incentive to start your own business.
Thanks Obama for the "Hand Up" to the little guy.
They can get around it, they just have to stop filing personal and incorporate, but then they have to play the "loophole" game to keep from getting eaten alive there. It ain't right, but there is a way to deal with it.
Still breaks down to overhead & expenses. Some businesses have small expenses-overhead and would not fall into the $250K bracket. Those
that do would suffer exponentially based on his tax plan. My inventory,
for example ran about $112K, not including equipment, warehouse etc.
So Reads2much would be fine until his growth hit $250K and then he
would be at a point of diminishing returns. (Apples & Oranges)
You may count inventory as an expense, but really it is just money you have invested in your business that will later assist you in bringing in a profit. But of course you are correct about low overhead. I am a relatively small business, and I like it like that. Keeps me in a lower tax bracket where the government doesn't mess with me too much. But the insurance costs for me are still atrocious as I am sure they are for you. I swear one of the biggest scams in the working world is the insurance company. You pay and pay and then if a time comes when you actually have to use it, they put you on signed risk and your rates skyrocket! It seems that by that principle, we should get a payback every year for not using the insurance. What do the rest of you think about it.
the people that work the hardest are at the bottom. as your rank and salary go up so does what is expected of you. extreme socialism is bad for incentive , you are so right, however 90 million buck golden parachutes for CEO come on. give the little guy a break huh?
I don't think I would say that. While there are some higher ups that get off easy, most that I have been around work insane hours. They may get paid a lot, but they never stop to breathe long enough to do anything with it.
On the flip side, Ive seen the low end people complain like they work hard, but what they do I really wouldn't call work. That is, unless you call complaining hard work.
You may count inventory as an expense, but really it is just money you have invested in your business that will later assist you in bringing in a profit. But of course you are correct about low overhead. I am a relatively small business, and I like it like that. Keeps me in a lower tax bracket where the government doesn't mess with me too much. But the insurance costs for me are still atrocious as I am sure they are for you. I swear one of the biggest scams in the working world is the insurance company. You pay and pay and then if a time comes when you actually have to use it, they put you on signed risk and your rates skyrocket! It seems that by that principle, we should get a payback every year for not using the insurance. What do the rest of you think about it.
Right on. Ins Companies do have the option to create trusts for their insured,
but few of them do that because they prefer to keep all the money. USAA
is one of the ones that has trusts that give annual dividends and they are good in settling claims. Ranked number one almost all the time, despite all the hype you hear advertised by Progressive & GEICO.
Good luck in your venture !!!!!!
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