Geithner : taxes on small businesses must rise so government size doesn't shrink

Really... small businesses uh? Not big worldwide corporations getting bailouts uh?

Another proof the US government is bought and paid for by big business. What does big business wants to do? Kill competition of course. As David Rockefeller said, competition is a sin.

And of course their ever lasting love of big government that can fix all your problems and control all your lives... for your own good of course.

Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’

Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to “shrink the overall size of government programs.”

The administration’s plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per year—including businesses that file taxes the same way individuals and families do.

Hell my father runs a small business, it's in Canada, but still, being a small business is a pain in the butt. You work hard for 10-20 years before making any REAL money... and even then, most of the time, it's not much.

Most small businesses fail within 5 years. They already have a hard time on every aspect of their businesses.

And those SOBs in Washington want to make it even harder? They really want to kill small businesses so the big corporations and the government are the only sources of jobs... total control.

they already take nearly 1/2...how much more do they want?

and we're supposed to 1099 every godd&mn person we do business with....

95% of all small businesses do not make $250 million. The great majority of small businesses are also "S" corps where all the business earnings flow to the owner for tax purposes. Thus, they pay the same taxes as everyone else. I think I want to throw up! Just as I did when Obama first appointed this kid. i knew Obama's change wasn't real change at that point. Remind sme of an old joke;


Thousands of men in prison camp for several years.
One day the Commandeer brings the prisoners together and tell them; I have good news and bad news, which do you want to hear first? The prisoners all yelled "the Good news".
So the commander says; "After all your years here, we are finally going to let you change your underwear".
The prisoners all erupt in great joy.
After that the commandeer continues; 'The bad news is that you change with you, you change with you, ........'

Yeah!
More Govt intervention!!
Geithner, your a tool!!!

Just another reason why Govt needs to get out of our lives and out of the way.

welcome to emerika comrads

the land of handouts and bailouts

*whew*
Good job Geitner!

The unemployment rate was falling, but with this, "YES WE CAN" go to double digits!!!!!

*facepalm*

I don't see a problem with his suggested tax rates.

Why can't they all just fire up TurboTax and not pay anything? That's what he does.

Notice how Geithner emphasizes that "Federal Education funding" might have to be cut if they don't increase taxes on small business.
Yeah Timmy boy, as if there were no alternative such as getting the Multinational corporations to start paying their fair share, or the fabulously wealthy like the Rockefeller who gets agricultural subsidies for his fishing lodge out in Wyoming. !!!!!???????!!!!!!!!!
This is what you get when our Federal government turns into a criminal enterprise pretending to be a Constitutionally mandated, democratically elected government.

Time for a National reality check.

Federal Education funding needs to be cut. How about we follow Ron Paul's advice and cut the whole Department of Education! Then we won't need to raise these taxes.

How about we also follow his plan and cut government to the "snow day" size. You know, that size of government that is "essential personnel only." The way government runs on snow days. Why should we be paying anybody that isn't essential personnel?

What do you expect from a guy with Federal Reserve roots? Hurt the mom and pop shops and make it seem like it's for education. Why not raise the taxes for big corporations and Wall St? That's where the money is...

As a small business owner and investor, I'm not paying another damned penny due to tax increases until the wars stop.

But I am sick of paying HALF (just from my small business and investment taxes- that doesn't even include other taxes like sales, property, and energy) just so my money can go overseas to police some country I can't even spell and line the pockets of some fat cat I don't even know while I see my fellow citizens hungry, unemployed, uninsured, and sick.

Small local businesses are what helps the economy tick. These people are imbeciles. This is a staged attack against the American economy. I refuse to believe a bunch of Ivy League graduates are this stupid accidentally.

taxes are the difference between profit and bankruptcy.

more of the government knows best and you dont know jack.


raise taxes and you put people out of work thats a fact

maybe its part of the master plan to kill off business in american so the only game in town is the government dime.

to wit if the government aint got no money you wont get any money.

the world as gone stupid and geithner and government are the stupid cheerleaders.

stop the insanity.

end the depart of education before the doe we put men on the moon what have we done since?

absolutley nothing.

He was talking about the bush tax cuts.
Yes, that would mean that you would have to pay higher taxes if you took more than 250.000 Dollars of profits out of your company.

Hint: What is one of the best ways to avoid paying taxes? Reinvest.

reply to post by debunky


Whoah there. Weren't reinvestment tax credits for small business also part of the so-called Bush "tax cuts"? Have we seen Obummer's bunch talking about any such thing being inacted?

At some point there will be no choice but armed resistance to the ever encroaching tyranny that has become the US government.

I am taxed to death and I'm SICK of it.

Originally posted by mydarkpassenger
reply to post by debunky

 

Whoah there. Weren't reinvestment tax credits for small business also part of the so-called Bush "tax cuts"? Have we seen Obummer's bunch talking about any such thing being inacted?

Good point! But I didn't hear anything about slower depreciation proposed, did you? Actually rather the opposite.

California has high taxes on small business.

Look what its done to Calif.

Many small businesses have closed or left the state for Nevada if they could
They still do business in Calif just now its by Internet

Killing capitalism one small business at a time. Way to go, Progressives!

They implement a minimum wage to help the poor defenseless workers, in order to kill poor defenseless business owners. The large corporations can afford to pay minimum wage, but they decide not to and build overseas and hire cheap labor. They then can lower their prices to run the mom-and-pops out of business, thus killing competition.

So, since they poisoned small business with the minimum wage, and they weren't dying quickly enough, now they're taking the simple expedient of plunging a knife into their heart.

I'd say they're shooting them in the head, but we all know the government likes their murders to have that close, personal touch.

/TOA

Yet more of the agenda coutesy of TPTB live and in living colour. Instead of rasing the taxes on corporations and the rich they want to raise taxes on the smaller businesses. All small business' combined contribute about 10% of the tax revenue that each of the large corporations do so to demand that smaller ones pay a higher share is both bad, detrimental and ill informed economic policy!