Is this the end to small buisnesses?

Since Obama won the election and majority of his financial support was supplied by organized labor unions with all his raising of taxes,socialized medicine seems like the only ones that can support all this overhead are the big corporations,I think they American dream has been dashed,sounds like the New World Order is in place,soon the government will control everything,this is a sad day

Not the end of very small business. It is the end of small business growing into mid-sized business and beyond though.

Obama has all but promised the tallest blade of grass will be cut first.

reply to post by thisguyrighthere


I'd agree with that, although I think the growth of new small businesses will slow dramatically though. I think people are going to see more incentive to work for someone else rather than start their own business now. This in itself is problematic though because businesses are now going to have less incentive to hire new people.

It's a troublesome situation for everyone involved.

reply to post by nyk537


Definitely. Why take on the risk of striking out on your own venture when you can see the ceiling just 6 inches above your head?

Most mom & pop type operations have such small profit margins as it is that only the truly dedicated would ever consider running their own business. If any possibility of breaking into success is void before they even begin then only the truly fanatical would bother to start their own business.

Everyone will be getting a federal job soon enough. Is internment a job?

On the plus side the ridiculous union protection would make it so I could show up to work 4 hours late and drunk wearing a bathing suit and still keep my job.

Not all small businesses. Just the ones that are too stupid to fill out a Schedule C. The people that are waist-deep in the RNC KoolAide seem to think that the Obama tax plan will be based on gross receipts. That's ridiculous. But go ahead and believe that if you want. Close your businesses before the capital gains boogie man eats up your mountains of profits. That way in this dung-heap of an economy that the last administration has left us with there will be more for the rest of us small businesses that DO get it.

I had thought Obama's plan was tax cuts for any family making UNDER 250K???

source

# Middle class families will see their taxes cut – and no family making less than $250,000 will see their taxes increase.
The typical middle class family will receive well over $1,000 in tax relief under the Obama plan, and will pay tax rates that are 20% lower than they faced under President Reagan.
According to the Tax Policy Center, the Obama plan provides three times as much tax relief for middle class families as the McCain plan. # Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s.
Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility.
But no family will pay higher tax rates than they would have paid in the 1990s.
In fact, dividend rates would be 39 percent lower than what President Bush proposed in his 2001 tax cut.

Obama final tax plan (PDF)

Most of this plan is geared toward individuals and families earning 250K or LESS and not necessarily "small business" an entrepreneur making 250K is no longer an entrepreneur now is he? It's a rare person that can, as an individual make over 250K.

For business and corporate source (PDF)

Broaden the corporate tax base and eliminate special preferences: Our tax code is riddled with special interest loopholes that allow some corporations and wealthy individuals to avoid paying their fair share of taxes. As President, Obama would move aggressively to close inefficient loopholes by taking steps that include:
o Reforming international tax loopholes: including reforming deferral to end the incentive for companies to ship jobs overseas and closing the offshore pension loophole;
o Closing domestic tax loopholes: including clarifying the economic substance doctrine and increasing reporting of capital gains to close the tax gap;
o Eliminating special tax breaks for oil and gas companies: including repealing special expensing rules, foreign tax credit benefits, and manufacturing deductions for oil and gas firms; and
o Closing other loopholes: including taxing carried interest as ordinary income, and closing the CEO pay loophole.

:

It's not the end of small business. Business owners will have to worker harder to get ahead though. Instead of hiring more people, they will have to lay people off, and handle a larger part of the workload. Forget hiring the extra help.

Ever notice that since they passed the new minimum wage increase, that unemployment has gone through the roof?

I see some have never had their own buisness,as a buisness person one must carry workman's comp for their employees,now add socialized medicine into the mix,and take into consideration if you employ over 5 people to make any profit your gross sales will be over 250k,as for Obama when asked same question by Joe Plumber ,poor Joe was raked over the coals,where does it say that only applys to an individual?perhaps you have proof of this?

Originally posted by RRconservative
Ever notice that since they passed the new minimum wage increase, that unemployment has gone through the roof?

You're serious? You honestly, really believe that the recent upsurge in unemployment is related to the increase in minimum wage? It has nothing to the recent flusing of the U.S. economy down the bowl? I didn't think they even MADE blinders that big.

Originally posted by jtma508

Originally posted by RRconservative
Ever notice that since they passed the new minimum wage increase, that unemployment has gone through the roof?

You're serious? You honestly, really believe that the recent upsurge in unemployment is related to the increase in minimum wage? It has nothing to the recent flusing of the U.S. economy down the bowl? I didn't think they even MADE blinders that big.

Rising business costs equal more layoffs and higher prices. So why wouldn't a rise in minimum wage be related to higher unemployment?

Add that to the goverment pressuring banks to make bad loans in the name of diversity and we end up where we are now.

reply to post by Oldtimer2


I am a small business owner and I employ 15 people at salaries of 80k or higher. My annual revenues hover around $2M a year.

I can tell you that this doesn't effect me in the least. The amount of deductions we take each year drops our taxable income in a drastic way. The only people in this nation who don't have this luxury are wage earners. Those who have w-2's don't have the nice ability to deduct half of their meals, all of their travel, gas mileage, the homes the rent, etc. As a small busines owner I can deduct all of this and more.

Want a new 24"iMac? Yep me too.. and I need to reduce my taxable income by $2k so I'l buy it. You can't do that as someone with a w-2.

So no, this doesn't really effect the bottom line of small business, even though the campaign which lost wanted you to think so.

[edit on 5-11-2008 by HunkaHunka]

SMALL BUSINESSES GET A TAX BREAK! Obama will give small businesses tax breaks, even more for hiring American workers.

Originally posted by HunkaHunka
reply to post by Oldtimer2

 

I am a small business owner and I employ 15 people at salaries of 80k or higher. My annual revenues hover around $2M a year.

I can tell you that this doesn't effect me in the least. The amount of deductions we take each year drops our taxable income in a drastic way. The only people in this nation who don't have this luxury are wage earners. Those who have w-2's don't have the nice ability to deduct half of their meals, all of their travel, gas mileage, the homes the rent, etc. As a small busines owner I can deduct all of this and more.

Want a new 24"iMac? Yep me too.. and I need to reduce my taxable income by $2k so I'l buy it. You can't do that as someone with a w-2.

So no, this doesn't really effect the bottom line of small business, even though the campaign which lost wanted you to think so.

[edit on 5-11-2008 by HunkaHunka]

excellent response

most people are just being fed what they are talking themselves and not really researching it themselves and see it from all sides, alot are one sided

people just dont get it

they read websites spewing garbage and take that in and instead of learning about it, spew it to others like they know what its about

thats more sickening than the people on here claiming that obama winning and 'ussa' is sickening

there is no socialism at work here at all

why dont people get over that fact

REASEARCH

reply to post by GamerGal


And, from what I recall, Obama stated that tax break to be $500 for every employee. I somewhat fail to see that as offsetting the cost of hiring more people.

Originally posted by Oldtimer2
Since Obama won the election and majority of his financial support was supplied by organized labor unions with all his raising of taxes,socialized medicine seems like the only ones that can support all this overhead are the big corporations,I think they American dream has been dashed,sounds like the New World Order is in place,soon the government will control everything,this is a sad day

Obama received donations from over 3 Million American citizens. To suggest the "majority" of his financial support came from organized labor unions is ludicrous when the real numbers are staring you in the face.

The American dream hasn't been dashed in the least. Small businesses that make over 250k will see a 4% increase in their corporate tax. ooh, look out. 4%. That's what it was under Clinton and our economy thrived.

American companies aren't leaving here solely because of higher corporate taxes. If that were the case they'd be going to Ireland where the tax rate is 11%. Instead, they're going to third world nations where not only the tax rates are low, but where every other cost of running business is much lower. This is where McCain's plan for the economy was seriously flawed.

reply to post by GamerGal


exactly


mccain, said no raising of taxes, so theyd stay the same as now, i pay way too much now

im glad for the relief to come

I work with about 12 docs in my clinic all making 250K and over, all of them, REPEAT "ALL" of them dont mind paying 3% more tax as they are living quite comfortably

when lower and middle class take home more, they spend more and the revives the economy and boosts business, supply, demand etc

thats where the heart of america is at, the middle class

with us getting breaks, ill be able to save and buy things id of like to, especially since lately noone seems to be making big purchases


i also know, that this is going to take a little time, and i think alot of people are going to be very impatient

one thing that needs to happen quick, is the tax cuts, thats gonna boost the middle class


and like the saying goes, ''the more you make, the more you spend'

granted im not going to be making more, but i will be keeping more of what i earn, which to me is awesome, im excited and might actually take a vacation next year somewhere nice, because it seems plausible and not something im gonna be broke for doing

It really depends now...if somehow the business will benefit from government expenditures then perhaps they will fair better than others, but if the business depends on the commercial side of economic policies that would allow it to expand then they may face challenges ahead. We will have to see how the economic policies are implemented. I have worked on both sides, and up to now, it seemed evenly balanced. Like I said, it really depends which sectors are hit hardest and which will benefit the most from these proposed changes.


[edit on 5-11-2008 by laiguana]

Originally posted by Oldtimer2
Since Obama won the election and majority of his financial support was supplied by organized labor unions with all his raising of taxes,socialized medicine seems like the only ones that can support all this overhead are the big corporations,I think they American dream has been dashed,sounds like the New World Order is in place,soon the government will control everything,this is a sad day

Utter BS, businesses of all will benefit from an Obama presidency, not loose out from another Republican hack of a president.

8years and we have a weakened economy, division more than ever and outsourcing the highest theyv been in years... and here you are speculating on an Obama presidency because your all sour grapes, yet we hear to mention of stupidity of many in the right to parade Bush around back in 2000 and 2004.

Give it a break...

No no better yet... get over it.

Anyone who believes this is ignorant to what Obama's stance is on small business. Although I see HEAVY leaning toward socialism in some of Obama's stances, I will admit that the more I fought to understand his message, the more I saw the sense in it .. FOR NOW, until and if we, as a nation can learn not to be consumed by our own selfishness.

Let me explain this the way he explained it when I finally understood.

Obama is actually MORE pro small business than was McCain and most republicans. Under the reign of republicans, small mom and pop shops suffer more because the bigger companies are given the breaks and able to offer things at a lower price while the smaller businesses are forced to make up for not only their required due but the loss of business due to having to raise prices.
It is a revolving door for small business that sets them up for failure from the get go. If they lowered their prices to compete with the bigger chain stores, then they sink into debt. If they raised their prices to cover the losses of income and all the fees that come with having a business, they still sink because they lose the customers.

I have a friend who has been trying to start a business and it is in something that he excels at and should have no problem succeeding at. But he is being overwhelmed with fees and this and that that he can't even get it off the ground to prove himself. His goal is good and that is to offer BETTER QUALITY service at a more affordable price. He is thorough in his work and isn't trying to rape customers like the bigger competition IS and yet the bigger competition is being given all the breaks even though their business has already taken off.

Obama wants to help ppl launch their personal businesses so we have a choice not to be raped financially and quality wise.

McCain's plan ultimately helps the bigger businesses which may help customers for awhile via trickle down, but it DOES NOT help the small business and if you say otherwise, you are either ignorant or close minded.

I had to open my mind and admit I could be wrong in my understanding of it all to realize that indeed, I was wrong in my understanding.

This in no way means that I agree or disagree with him, but he will be our president now and since "trickle down" hasn't been working for us, I for one am willing to look at alternative options.

Remember, insanity is doing the same thing over and over and expecting different results. Time to try another way because, no matter how biased you are to what you feel is best for our country, "trickle down" IS NOT working out well for us. If you say otherwise, you are as bad as the religious nuts who say their way is the only right way because they say so.

It may hurt to open your mind and consider what he is saying, but sometimes pain comes before triumph... Obama has proven that he can endure obstacles to achieve something, so I am willing to shut up on what I think in order to try what he thinks will be right.

[edit on 5-11-2008 by justamomma]

reply to post by Oldtimer2


Have any alternatives in mind? National emergency? Make Bushy permanent dictator-in-chief? Things were going so well up to this point, you must have some ideas.