reply to post by dizzie56
I understand what you are saying, and I agree with you in principle. I feel that small business owners should
have significant tax breaks. What
I am against is the tax breaks that allow major corporations and the top 1% of Americans to get away without paying any taxes, or in some cases
getting fat tax refunds.
I am not asking someone who is struggling to get their business off the ground to pay more than me, just to pay their fair share on their income. If
they choose to place part of their income back into the business, that is their choice, but it does not mean that they should be allowed to not pay
tax on that income.
They can always set up the accounting so that they do not actually have income, just a drawing account, so they would only be taxed on the money they
actually withdraw from the business for their personal expenses.
IMO, businesses with less than 200K a year profits
should never pay more than 15%, 200K - 350K 20%, 350K - 500K 25%, Higher than 500 K 30%.
These percentages should include the payroll 'matching' taxes as well.
Personal federal income tax should be capped at ~ 10%, state,county,city, altogether should not exceed 3%, and there should never be a sales tax
whatsoever. Also, those individuals that earn 25K a year or less should pay at half or less until their yearly income increases.
I happen to be lucky enough that I reside in a state without one, and have never understood why people should be taxed for the privilege of purchasing
I am also against luxury tax and estate tax, by whatever names the politicians have given them.
All I am asking is that everyone pay their fair share.
Just wanted to add, I am not
a Herman Cain supporter, I just think he has a some decent ideas on taxes.