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

reply to post by marg6043

And what was wrong with high interest rates? Many act like they are the devil. I earned 10% on my CD's (I locked that rate in for 8 years!) and my savings grew and grew. We actually had incentive to save our money. Ok so mortgages had high interest also. But high interest rates helped the rock bottom poor and retirees on a fixed income get ahead a little bit and live more comfortably. If you could just get something into a savings account you made a profit

As for the high loan rates, well, if you think about it if you saved for a few years, you had a lot more money to put on a down payment. But still we reached a point where we were getting more interest in the bank vs. what we were paying out. Later as the rates sunk lower, we refinanced into a 15 year mortgage, and only payed $15 more a month.

As for the mortgage fiasco, it just didn't make sense to even consider an adjustable rate mortgage. Those that got burned made a wrong decision.

Now the adjustable rate Cd interest was a different thing. Those were like gold! And I took advantage of them. Back then I even had a mutual fund that paid $5000 capital gains/dividends yearly on $20,000 worth of investment. Now I don't even get a tenth of that.

Quick question when was the last time that the Republicans cut taxes for small business and at what percentage?

I really don't know, but I would be surprised if only the democrats are attacking small business.

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.

Small business pays double?

Small business is the largest employer in THIS country and small business is already paying half of your SS contributions, and everything else it takes to keep a business doors open.

40% ?

Small business is mostly middle class your mom and pops and 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.

I agree with everything but the living wage. Why is it bad to make someone pay an employee enough to live? No flames please. Am I missing something?

reply to post by fenson76


Because crap jobs are meant to be crap jobs they are not intended to make a living on or raise a family.

They are meant to be stepping stones hell my fist job paid me $3.25 an hour a far cry from what it is today.

It was meant as pocket money, to put gas in my car and have some running around money like most teenagers do not for adults.

That $3.25 is around 7 bucks in todays cash fix the money because the money is the problem.

reply to post by neo96


Just another fine example of Obama and his "Agenda".

Polarize, and destroy this Nation. People need to wake up from the kook-aid fest and realize that our infrastructure is being destroyed by this Administration and those who support this kind of stupidity.

Originally posted by NOTurTypical

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.

That's funny! It was while he was running in the primaries against Hillary Clinton during the Bush presidency.

I think people were fed up with The Patriot Act and thought that electing an outsider would help thwart the "corrupt" (read: not as corrupt as now) government, and his speeches really played off that. Too well, in my opinion.

It was an awesome opportunity at the time, as for now, I think I would stay away. I was a bit suspicious at the time, but thought his speeches were really good.

Now I am under the impression that his speeches were good because they were written to get him elected and had nothing to do with his policies.

Can someone point me to the quote where he specifically said "40%" for small businesses.

I can't seem to locate it.

Thanks.

This guys IQ goes down by the minute. UGH! I really hate politicians. I wouldnt piss on one if they were burning alive!

Originally posted by darkbake

Now I am under the impression that his speeches were good because they were written to get him elected and had nothing to do with his policies.

Either you're trolling or you really mean this. Friggin sucks either way.

"Now I am under the impression" is still more than I can get out of most of my family and some of my acquaintances, even after all that has transpired in the past 5 years.

But still...

reply to post by JamesTheScribe


Nah, I'm not trolling. I just pick who I vote for based on their policies instead of their party.

I just wonder from original post, where did 40% came from. Original post uses blog rather than original NY Times article to support Obama's wrongdoing.

I am not trying to defend Obama, but just like to point to fact that blogs are last place I would take my data from, especially one that are biased as the one above.

IMHO at current stage government is more dysfunctional than functional. We all saw that in problems to find middle ground with budget and this appears to be move by government to find compromise...

I don't have a problem with business getting tax break as long as this promises more work, extension of business and makes it more appealing for business, while I like to see higher individual taxes for those who are in higher tax brackets.

please remove

reply to post by darkbake


See...

This is where the confusion comes in.

That's how everyone should do it.

I guess it's just hard for me to comprehend how any thinking person couldn't already see what Obama was back in 2008.

Nothing personal...I voted for the man too, but not because of his obviously fluffy rhetoric and sing song promises & pandering. I voted for Biden over Palin. I knew (as many did) full well what his "policies" would be once elected...and there's no way he wasn't going to be elected. Granted, it's much worse than I anticipated.

You just seem surprised at his governing, that's all.

At first glance it would appear as though the government wants to bring business back to america by reducing their tax burden in the usa. But this offset of income then gets shifted to small business which used to be the backbone of america. This is indeed unfair imho!

The majority should be paying less taxes, not more. The way to go about fixing this problem is to admit to yourself that free trade and globalism do not work in the long run. There needs to be a balance of imports to exports to encourage american production. Its called protectionism. Obviously there would still be imports but fewer than now. Raise the tariffs on china to stop this 15 year horrendous trade deficit. Even mitt romney spoke about it during the 2012 presidential debates.

Obama is giving away 5 trillion dollars in bailouts to big business and domestic infrastructure projects, and putting us in bigger debt problems continously, yet has nothing to show for this tax payer waste. Kenynesian theory does not work mr president, but of course you are a NEOliberal globalist playing the bilderberger tune with deaf ears to things THAT DO WORK!

The result will be more small and medium business going insolvent, and big business buying them up at the last moment to consolidate their market share, eventually creating artificial monopolies in each business sector. Small and medium businessn has no chance to compete with big business if the government keeps protecting the big and screwing everyone else.

Wall Street greed is another big factor. Every big investor/speculator loves outsourcing due to cheap labor and lax regulations, not caring about the domestic economy one bit.

Affordable Healthcare Act adds financial burden to small business whom are already in big trouble.

The only thing that small business has going for it is illegal immigration so that they can hire illegals to save on payroll expenses and minimum wage requirements.

How else can we stop the bleeding of jobs and income away from america?

Basically its a bilderberger and wall street economy. Encourage outsourcing and automation while millions of americans KEEP getting layed off. Then send them to unemployment, and when unemployment ends, send them to state welfare.

Greed is the problem. The greedy bastards that finance both democrat and republican campaigns AND SNOB third parties that DO want to turn the ship around and SAVE it!

Look at the 15 year trade deficits with china.

Geeezzz

Small businesses pay more taxes = Less Money
Less Money = Small Business's begin to struggle
Struggle = Less pay for employees/ employees being fired due to low funds
Less pay = Employees not being able to maintain life, and seeking new jobs.
Less employees = business fails
Business fails = unemployment rate increase/economy collapsing


I can go on and on and on and on

Something we all need to start to acknowledge.

The middle class as being defined by the current administration as union workers (only) is a sham.

The middle class is made up of largely small business owners and the self employed who are far from rich.

There is a major difference between huge publicly traded corporations that are owned by hedge funds and small business.

Obama and his policies are destroying small business. You cannot sweep up all of business in one broad brush.

reply to post by JamesTheScribe


That's a good point, but I think McCain threw the election anyway. I'm more surprised that he won in the primaries over Hillary Clinton than him winning over McCain.

reply to post by Jaellma


Can't seem to find it?

he raised the top individual income tax rate, paid by many small businesses, to 39.6 percent.[

Many small business's file as individual