posted on Aug, 22 2011 @ 05:05 PM
There has been a good deal of rhetoric coming from the White House and politcal pundits about people having to 'pay their fair share' or 'share the
burden'. I am a former business owner (restaurant) who is now involved in the manufacturing sector for the past three years. While I no longer own a
business I still put in nearly the same amount of hours, they are just condensed into the standard work week and no longer occupy my weekends.
I am not ashamed to admit that I was very successful when I had my business. I made a good profit each year and had a happy and dedicated client base.
My partner and I sold it for a profit and I took the position I currently hold. I have also done quite well here and have helped our company grow
despite the down economy.
While I am certainly not one of the 'millionares and billionaires' that seem to get vilified as of late I have done well and would fall under the
target group of earners (due to filing jointly) that would see their taxes increase further if current White House sentiment were to become law.
When I sold my business I paid nearly 40% in taxes on the proceeds. This was after paying state and federal income taxes every year for thirteen years
as well as strictly, in my opinion, punitive taxes such as New Jersey's Corporate Business Tax (CBT) which is basically a tax just for deciding you
want to own a business. We decided to sell because of the prospect of diminshing returns for the amount of work required. I employed over 14 people
when I sold it. Sadly, the people who bought it went out of business within two years and everyone lost their jobs. I has thankful that I was able to
get a few of them work (one with me and two with friends) but I have second thoughts and regret about selling because of this and I know I could have
kept the establishment running indefinetly.
In my new postition we currently pay, between our joint earnings, nearly 50% in taxes between state, federal and local property taxes.
So I ask again; at what point is it enough? How much more of the money I worked hard to earn will I be required to give? 55%? 60%? More?
At what point does someone feel obliagted to anymore of my hardwork? I have no issue paying my fair share, but I have a serious issue paying