Obama: Top Tax Rate Should Be 28% for Corporations, 40% for Small Business

Besides the increased small business taxes, it looks like Obama is trying to capitalize on Reganomics, "trickle down theory". It can really work you know, if they cut the rate for small businesses also. Plus they utilize other aspects of Regan's economy plans. During the Reganomic years the unemployment rate went down from 10% to 5.4%, and inflation dropped from 10% to 4%.

I also was getting a 10% rate on my savings. This was extra income in the bank that I miss big time! I can't tell you how fast I saved money during those years, it was phenominal! The whole entire US economy was phenominal! And those below the poverty level was only 13%.

Regan pulled us entirely out of a recession and gave us economic growth out of the wazoo! You don't take a country in a recession and hand out even more to the public.

As Milton Friedman once stated, "Reaganomics had four simple principles: Lower marginal tax rates, less regulation, restrained government spending, noninflationary monetary policy".

What is this? Small businesses are needed in this country to promote independence and the middle-class. Corporations need to go away so that they can stop meddling in politics and bribing senators.

Whose side is Obama on? I listen to him speak, and I saw him speak in person, and I seriously doubt he ever intended on actually doing anything he said. Meanwhile, good catch O.P.

The small non-corporation businesses and the smaller corporations that don't have international 'locations' will get hammered just like they have been.

The 'plan' is to force them out of business, or force them into bankruptcy and thus the large international corporations will swallow up the assets and the 'sales'.

The banks have been going through the same patterns.

The long term depredations will offset taxes for years.

The small local businesses can't afford to expand. Only the big ones will.

The slightly lower rate on 'manufacturers' is misleading. Many 'manufacturers' have gone to foreign countries thanks to NAFTA and other international agreements already.

The whole deal is a ruse.

So let me get this straight. We live in a country of roughly 350 million people. Of those 350 million people 100 million have full time jobs in the private sector. 106 million are currently on food stamps. So basically the 106 million either have part time jobs or don't make enough to support their families.

So that leaves 144 million people who work for the government or in the public sector. Also it should be noted that people who work for the government get much more in wages than the average person working in the private sector.

Riddle me this? How in the hell can we afford this? There is no way this is sustainable even at the rate it is now.

If this happens it is basically a death notice to the self employed and the rest of the middle class.

Obama has taken a huge dump on this country and expects us to wipe his butt. Me thinks this baby needs to grow up and be fiscally responsible.

Originally posted by elouina
Besides the increased small business taxes, it looks like Obama is trying to capitalize on Reganomics, "trickle down theory". It can really work you know, if they cut the rate for small businesses also. Plus they utilize other aspects of Regan's economy plans. During the Reganomic years the unemployment rate went down from 10% to 5.4%, and inflation dropped from 10% to 4%.

I also was getting a 10% rate on my savings. This was extra income in the bank that I miss big time! I can't tell you how fast I saved money during those years, it was phenominal! The whole entire US economy was phenominal! And those below the poverty level was only 13%.

Regan pulled us entirely out of a recession and gave us economic growth out of the wazoo! You don't take a country in a recession and hand out even more to the public.

As Milton Friedman once stated, "Reaganomics had four simple principles: Lower marginal tax rates, less regulation, restrained government spending, noninflationary monetary policy".

And just how did Reagan pull America out of a recession? Simple he didn't the recession got worst under him. Under him national debt went up 186% personal bankruptcies went up 600% prescriptions for anti depressants went through the roof. And his war on the farmers just do a little checking and see how many family farms went under because of him. Reagan was a total failure as president. And the trickle down theory is a joke that will never work they have been trying to make it work for decades and still haven't gotten it right. Trickle up works not trickle down.

Simple answer make yourself a business thats an LLC. use the LLC to write off everything in your daily life so you need a business that is not in your home but can have an office there. Write off everything then write off everything. then write off everything. I grossed well into the 6 digits and paid less than 1k$ last year. The LLC is a loser for your real job that makes you money. Monthly board meetings anywhere you like 100% anywhere. Our yearly board meeting will be at Yellowstone this Christmas all 100% deductable

reply to post by neo96


I will reserve judgement until I see the stats on what small businesses are actually costing the tax payers and the government by paying poverty wages with no medical insurance. Forcing their employees to live off of government assistance and costing ALL taxpayers money.

From what I can find it don't look good to be honest, Most small businesses offer no medical insurance and most pay poverty level wages.

Who exactly is supposed to pay for the assistance these people need to survive? Where do you suppose the Government is going to get the money? Who is kicking the can down the road and making someone else pick up the slack?

reply to post by neo96

28% for corporations 40% on small business that is already getting hammered by Obama care, and this living wage bullcrap.

Small business pays double?


he thinks it's a 'sound economic policy'.

Obama destroying the middle class since 2008 Yes We Can ! ! ! !

Who the hell are his economic adviser's ?

Talk about the clueless leading the hopeless.

you sound incredulous that Øbama does not and never had American Values nor the working populations well being his foremost policy guide.


his regime is far from clueless... all the roadmaps of the Globalists are in the forefront of his regime...

only the shredding of the Constitution remains to be completed... as the nations economic paradigm has been forever changed... the decline of the FRN 'dollar' is well under way, the Police-State is prevasive, the Corporate take-over of Government just needs this final push to make the former USA into the Chinese/Russian (Sino-Soviet model)


the regime, the czars, the Agency heads & cabinet advisors with the empowered banker cartel & core 147 multinationals & interconnected Corporations are in the drivers seat...pulling the strings of the lame-duck president/CIC that will conduct post CEO activities from his +$40M digs in Hawaii

(see...he is shaking the Chicago dust off his suit...because bad things are in store for that area before his term ends and Hawaii was his choice of plush environs available)


see: www.peakprosperity.com...





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BTW...

small businesses can apply for the same exemption / waiver from Obamacare just as has some very large number of big corporations...
undue hardship i think is the reason corps like McDonalds and Boeing, et al are granted these waivers from the ØbamaCare grip-of-death

This admin wants to drain all individuals of owning anything - as per Agenda 21 - live in small "sustainable apartment" and get on the commuter train and go to your prescribed job.
I support small businesses in my area and I urge all of you to do the same.

Originally posted by Cabin
reply to post by NOTurTypical

 

Everything depends on how you take the definition of small business.

In the study used:

Small business 1-9 workers & it was raised to 50, although the picture did not change much.

By these statistics we can say that 52,7% of Americans worked for companies which employed more than 250 employees.

You were making the cutoff at 500 employees. I do not know about US standards for small business, although if 500 was the cutoff point, in nearly all countries in the world the small business sector would make 99% of the economy. A company with 500 employees is not a small business. In my opinion a maximum of 50 should be the cutoff point, after that point the company is not a small business any more. I personally prefer how its done in Oz, any company which has under 15 employees is a small business, even 50 is too much to get a clear overview.

I do not know about US standards, but in EU:

1-9 microbusiness
10-50 small business
50-249 medium business
250-1000 large business
1000+ enterprise


Please do not shout false, before even reading the source. Both of these studies were correct, the classifications of a small company varied.


PS. Found the US business size standards. Companies with under 250 employees (which is very odd in my opinion) are considered small businesses. By these standards still under 50%, 47,3% of people worked for small companies in 2007

edit on 31-7-2013 by Cabin because: (no reason given)

I quoted what the government (sba.gov) defines as a "small business", any business that employs less than 500 workers. Heck, you could skew your data any way you see fit I suppose. You could arbitrarily decide than only businesses that employ less than two people are small businesses.

Originally posted by darkbake
What is this? Small businesses are needed in this country to promote independence and the middle-class. Corporations need to go away so that they can stop meddling in politics and bribing senators.

Whose side is Obama on? I listen to him speak, and I saw him speak in person, and I seriously doubt he ever intended on actually doing anything he said. Meanwhile, good catch O.P.

Lol why would you see him speak in person? I don't even watch him deliver a speech on TV.

Originally posted by buster2010

Originally posted by elouina
Besides the increased small business taxes, it looks like Obama is trying to capitalize on Reganomics, "trickle down theory". It can really work you know, if they cut the rate for small businesses also. Plus they utilize other aspects of Regan's economy plans. During the Reganomic years the unemployment rate went down from 10% to 5.4%, and inflation dropped from 10% to 4%.

I also was getting a 10% rate on my savings. This was extra income in the bank that I miss big time! I can't tell you how fast I saved money during those years, it was phenominal! The whole entire US economy was phenominal! And those below the poverty level was only 13%.

Regan pulled us entirely out of a recession and gave us economic growth out of the wazoo! You don't take a country in a recession and hand out even more to the public.

As Milton Friedman once stated, "Reaganomics had four simple principles: Lower marginal tax rates, less regulation, restrained government spending, noninflationary monetary policy".

And just how did Reagan pull America out of a recession? Simple he didn't the recession got worst under him. Under him national debt went up 186% personal bankruptcies went up 600% prescriptions for anti depressants went through the roof. And his war on the farmers just do a little checking and see how many family farms went under because of him. Reagan was a total failure as president. And the trickle down theory is a joke that will never work they have been trying to make it work for decades and still haven't gotten it right. Trickle up works not trickle down.

That's one of the biggest lies I have ever read in this forum.

These economic policies amounted to the most successful economic experiment in world history.  The Reagan recovery started in official records in November 1982, and lasted 92 months without a recession until July 1990, when the tax increases of the 1990 budget deal killed it.  This set a new record for the longest peacetime expansion ever, the previous high in peacetime being 58 months.
During this seven-year recovery, the economy grew by almost one-third, the equivalent of adding the entire economy of West Germany, the third-largest in the world at the time, to the U.S. economy.  In 1984 alone real economic growth boomed by 6.8%, the highest in 50 years.  Nearly 20 million new jobs were created during the recovery, increasing U.S. civilian employment by almost 20%.  Unemployment fell to 5.3% by 1989.

"Regeanomics VS Obamanomics" - www.forbes.com

reply to post by neo96


Neo I guess our corporate corrupted run president see that is not use on investing on small businesses because they do not pay enough money on "briberies" I mean in campaign contributions like the corrupted corporations can.

Americans should be so proud of the crap that runs our country.

reply to post by NOTurTypical


Reagan is the reason that we got now corporate corruption all over the government, he is the one that open the door for the corporate dictatorship running the nation, he also open the door for the religious right power.

Reagan was a failure, regardless what the corporate run economist wants to sugar coat about him.

reply to post by elouina


We all know what "reganomics' did to American hard working middle class. Reagan was an actor that believe he could take the role of a president to win and Oscar.

People fell for his Hollywood style presidency.

Originally posted by jibajaba
This admin wants to drain all individuals of owning anything - as per Agenda 21 - live in small "sustainable apartment" and get on the commuter train and go to your prescribed job.
I support small businesses in my area and I urge all of you to do the same.

That's not "Agenda 21", the idea that people should have private ownership of anything is Marxism.

Originally posted by marg6043
reply to post by NOTurTypical

 

Reagan is the reason that we got now corporate corruption all over the government, he is the one that open the door for the corporate dictatorship running the nation, he also open the door for the religious right power.

Reagan was a failure, regardless what the corporate run economist wants to sugar coat about him.

Numbers do not lie, and are apolitical. Regean saved the nation from fiscal collapse just as Thatcher saved the UK.

reply to post by NOTurTypical


I agree, no only maxims but the corporate run country can not have independent entrepreneurs posting a danger to their control.

No longer any small business can achieve the American dream without having the corporate government breathing down their neck and before they can even become successful the corporate America is there to buy them out.

Small businesses are the backbone of America, supplying way more jobs than big corporations. Big corporations supply the small businesses but this is not necessary for all things, other small businesses can provide much of this service. Why do we pay big business to import things that we can order direct. They skim the top while providing less and less jobs for our people. We need to create more factory jobs here in America to put our people to work, we do not have to support the Chinese. Sure we can import some parts from them to build the stuff here, I just think all American products sold should have at least a third of their value derived from labor here in America. Corporate salaries are not labor either, manufacturing is labor. I'm all for a high import tax on products that do not supply work for the general public. If a bunch of parts are imported but the parts constitute less than the labor the products take to build, the import tax should be reduced proportionately.

reply to post by NOTurTypical


I already has discussed Reagan many times, so I am done now, people have such short memories.

People glorified Regan but he was nothing but just another politician with Hollywood background.