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

reply to post by rickymouse


Exactly, big corporations are the ones that had screw the middle class but with enough money to buy out the government, do not expect anything been done to fix the problem of outsourcing, that is one of the reason they want to crap all over small businesses they pose a danger to their status quo.

reply to post by neo96


Think of it this way. Since, you (Business Owner) didn't build it, then the Tyrant 0bama truly believes taking more from the business that "Govt built" is not a problem.

And Progressives here wonder why I refuse to hire anyone to work for me at my Company.

All hail the Generation of the part time worker, who's income will be offset by tax dollars.

Originally posted by dizzie56


This just goes to prove that Obama is a moron. Id love to see how a liberal spins this one as they are hanging from his, well you know.

reply to post by sligtlyskeptical


Adding of the "Progressive" term is how we got to where we are in the first place.

Flat tax or Consumption tax. Those 2 options are the only real fair way to go about it.

reply to post by neo96


Shows what is known about small businesses up there.

Shame on a government that cant keep its eyes off the people money.

reply to post by neo96


Not surprising. Obama is just making sure that his financial security is set after his presidency at the nations cost.

reply to post by neo96

Small business pays double?

Corporate has always paid less than small business, they do that so the companies stay in America. You make more money that way. Say corporate is 25% tax, people will see that and take their business to America. Now say its 40% companies stop coming to America and start leaving. So you get more money with lower taxes.

Small business has always paid double because they don't have enough money to leave the country. It's all about money, everything in the world is money money money and I'm tired of it.

Don't expect banks to pay much in interest any time soon, if ever again. They have card interest and fees, loan interest and access to the money supply. They don't need to use your money. They do want it invested in the market so they can game it away from you on a periodic basis.

I believe this is why electing just anyone who sounds good but has next to nothing for life experience for making things vs. taking things is critically important. As an attorney and then community organizer? Obama's entire life, literally, has been about taking from the system or finding ways to take for others. How can he be expected to understand let alone appreciate the damage his policies actually do in sectors of the economy he's only read about in books.

Case in point....Obama talks as if lowering the corporate tax rate is some BIG concession that should only be mentioned in direct relation to extracting painful concession from the other political party. When, in point of fact, lowering our crippling corporate tax rate is called economic survival to most people with a child's grasp of economics. Why?

Well... When you have *THE* single highest effective tax rate on Planet Earth for corporate taxation? They WILL run like hell and leave the nation as soon and as totally as they can manage it...and they have been now for many years. I thought Obama was going to make stopping the flow of economic prosperity out of our nation some sort of priority? Only if he can force his own points in trade it seems.

Worldwide Corporate Tax Rates (Effective Rate on Avg)

It's funny....but in our nation we use the tax code to credit or give toward what society and the Government wants to flourish while taxing the crap out of things from Soda to Cigarettes which we want to see suffer and/or fail. So what does the highest tax rate in the world say about our business climate and attitude?

Federal Corporate Income Tax Rate 1909 - 2012

I'm going to say it indicates we've been worse as a nation for anti-business stupidity to submarine our own economy as if that were the desired result..but it's been a long long time and you can see by the table there? They aren't after the richest. They're after the small business 'sweet spot' in the revenue chart. The people making just enough to FEEL good but not enough to BE good ....they get clobbered by the highest %, year after year.

Welcome to America, now pay the man.

reply to post by marg6043


I had a small business for many years. It seems like you just make a living after all expenses and wages are paid. With having to buy more and more tools and the costs of insurances it's hard to get ahead. You can get behind easily though, it is easy to get credit and with the credit you eventually become a slave to society if you expand. I wouldn't mind owning a small store but people don't shop at small stores anymore much. They will drive ten miles to a big store to save a buck, but in essence lose two bucks in the gas they use.

Originally posted by neo96

The New York Times reports that President Obama is reviving an old proposal to lower the corporate tax rate from 35 percent to 28 percent (and 25 percent for manufacturers). Obama's push to lower the corporate tax rate to 28 percent comes less than a year after he raised the top individual income tax rate, paid by many small businesses, to 39.6 percent.

Obama said WHAT?

Are you kidding me?

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

Only 3% of small businesses file as individuals...and mostly "pass through" entitties like law firms and small investment shops.

This has been researched repeatedly and fact-checked during the last debate on the topic.

First of all, Obama claimed he wanted to help small businesses. Called them the "Backbone of our economy", so why is he looking to destroy them?

Small Businesses Are Backbone of Our Economy

Every time I hear this man's voice, this is what happens:

reply to post by neo96


This has always been the agenda - small business and innovation is to be destroyed and displaced by mega corporations - because the mega corporations are easier for the bankers to control, and the little people are just workers - not able to own capital.

In my opinion, businesses and corporations should not pay any tax anyway - none. All taxes paid by a business are passed on to the customers, or borne by the workers - its a double tax. Only individuals actually create wealth - a business is just a concept, a folder of papers - it can't create, and taxing it is just an underhanded way of re-taxing everyone else.

Originally posted by NOTurTypical
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.

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

Now if they really wanted to get nasty and involve Obamacare, they could redefine a small business as those with 49 or less employees. That will teach them to skirt Obamacare.

Anyways, I am glad to see your number of 500 since I was wondering if perhaps this was payback from Obamacare.

If you are a small business and file as an "individual" do you also pay income tax? Because if not then it's really two different taxes - one on companies and one on people. And those are different the world over.

reply to post by neo96


I'm glad he said it. No more hiding behind the scenes pretending to care about the Middle Class and Small Business. This is class warfare, nothing less.

reply to post by rickymouse


I think the business model for small businesses is wrong. Before the 1980's people use to start their own businesses not to get rich like the corporations, but to be an independent worker or for the love of their product. I do not believe we should be relying on small businesses for jobs.

reply to post by MOMof3


So, how did people work to get wealthy then?

reply to post by rickymouse


At the end my friend, you know that our government and whore president doesn't give a crap about the struggles of the working class and small business owners because when he leaves the offices of the US presidency he will be set for life.

reply to post by macman


Wealth was never the motive for most of us. I remember much happier families when most of us had one car, one tv, one bathroom, one vacation and a savings account. Getting medical care and food was not a stressful decision. You could lose a job one day and have another one in an hour. That is what rich people just cannot seem to get. Not all of us want to be rich with money. There are other types of "wealth".