Congrats Mr. President!!

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“I don't need no stinkin job.”

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#121
Nov 24, 2012
 
Scuba Dawg wrote:
<quoted text>
The people that don't understand this mess are the ones that have never been worried about making a payroll. Probably never took out a loan to make sure their employees would show up next week. 250k isn't what it used to be, especially when you are gambling your livelihood in a small business. I business depends on people having money to spend. They have to have jobs to have money. After the Liberal Gestapo finish taxing the big employers, small business will be the ones that suffer. Look for more manufacturers to move jobs overseas in order to save enough money to stay afloat.
Small business isn't defined by profits or corporavte campus size. Small business is defined by the # of employees. The magic number being 50 or less (at least thats what the magic number was just a couple of years ago. I didn't double check that but I seriously doubt it has changed). That being the case, Donald Trump and Mitt Romney both qualify as a small business regardless of what personal wealth they amass. Thats why there is no movement to raise taxes on business types. The tax increase proposal is striclky on the (above)$200K/$250K limits.

Companies have already moved business overseas (where have you been?). Everyone of Apple Co. popular products are manufactured in Asia.
Right Brain Thinker

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#122
Nov 24, 2012
 
Left Brain Thinker wrote:
<quoted text>Small business isn't defined by profits or corporavte campus size. Small business is defined by the # of employees. The magic number being 50 or less (at least thats what the magic number was just a couple of years ago. I didn't double check that but I seriously doubt it has changed). That being the case, Donald Trump and Mitt Romney both qualify as a small business regardless of what personal wealth they amass. Thats why there is no movement to raise taxes on business types. The tax increase proposal is striclky on the (above)$200K/$250K limits.

Companies have already moved business overseas (where have you been?). Everyone of Apple Co. popular products are manufactured in Asia.
"Small business isn't defined by profits or corporavte campus size"

Taxes and tax rates aren't calculated based on the number of employees? They are based on profits.

"Donald Trump and Mitt Romney both qualify as a small business"

Mr. Trump is the chairman of a company with 22,000 employees. It's safe to say he's not a "small" businessman.

Mr. Romney is retired. His taxes are based on the type of income he receives. Earned income = marginal tax rates. Dividend and capital gains = capital gain tax rates.

"Companies have already moved business overseas"

Since a business is supposed to make money, not provide jobs, what do you expect them to do? With all the rules, regulations, EPA fines and policies, insurance rules and requirements, I'm surprised any business stay in the US.

If you could move to Texas and avoid paying personal income taxes in Arkansas, would you? Many people and companies are doing it.

Higher taxes are bad. They are bad for small and large business. Bad for rich and poor people. Lack of tax revenue did not get the country in debt.

“The Dawg is In!”

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#123
Nov 24, 2012
 
Left Brain Thinker wrote:
<quoted text>Small business isn't defined by profits or corporavte campus size. Small business is defined by the # of employees. The magic number being 50 or less (at least thats what the magic number was just a couple of years ago. I didn't double check that but I seriously doubt it has changed). That being the case, Donald Trump and Mitt Romney both qualify as a small business regardless of what personal wealth they amass. Thats why there is no movement to raise taxes on business types. The tax increase proposal is striclky on the (above)$200K/$250K limits.

Companies have already moved business overseas (where have you been?). Everyone of Apple Co. popular products are manufactured in Asia.
Trump and Romney live off money they already paid taxes on. So do many retired Americans that responsibly planned their retirement by investing. If you didn't know, investments are a gamble. If I end up paying 35% tax on my investments, I will be pulling out what little I have left and buying physical gold. I'm sure I'm not alone. What will that do to the economy?

Yes, many jobs have been sent overseas. You get a product built cheaper and much better in some cases. I bet you are using one right now.

“I don't need no stinkin job.”

Since: May 09

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#124
Nov 24, 2012
 
[QUOTE who="Right Brain Thinker
"]<quoted text>
"Small business isn't defined by profits or corporavte campus size"
Taxes and tax rates aren't calculated based on the number of employees? They are based on profits.
"Donald Trump and Mitt Romney both qualify as a small business"
Mr. Trump is the chairman of a company with 22,000 employees. It's safe to say he's not a "small" businessman.
!
[/QUOTE]
Try again. But try harder next time.

Now, it's possible that some Trump businesses could still qualify as small by the SBA's definition. According to news reports, Trump has some holdings that are much smaller than 500 employees and have relatively modest revenues. In a story about a tax cut proposal from House Majority Leader Eric Cantor, R-Va., the Huffington Post wrote that Cantorís cut could benefit "Donald Trump's Trump Tower Sales & Leasing, which has 20 employees and annual sales of about $960,000." CNN reported that "Trump also runs a number of other companies that employ fewer than 500" people.

http://www.politifact.com/truth-o-meter/state...

And the magic number is 500........not 50

“My mind....”

Since: Jul 09

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#125
Nov 24, 2012
 
Left Brain Thinker wrote:
<quoted text>
Try again. But try harder next time.
Now, it's possible that some Trump businesses could still qualify as small by the SBA's definition. According to news reports, Trump has some holdings that are much smaller than 500 employees and have relatively modest revenues. In a story about a tax cut proposal from House Majority Leader Eric Cantor, R-Va., the Huffington Post wrote that Cantorís cut could benefit "Donald Trump's Trump Tower Sales & Leasing, which has 20 employees and annual sales of about $960,000." CNN reported that "Trump also runs a number of other companies that employ fewer than 500" people.
http://www.politifact.com/truth-o-meter/state...
And the magic number is 500........not 50
$960,000 with 20 employeees?
And you're b!tching about that?

I know of a business that almost does that much with 3 employees.

Who would you suggest more taxes for?

(BTW, you still owe me an answer from my previous post)

“I don't need no stinkin job.”

Since: May 09

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#126
Nov 25, 2012
 
OMYDAM wrote:
<quoted text>$960,000 with 20 employeees?
And you're b!tching about that?
I know of a business that almost does that much with 3 employees.
Who would you suggest more taxes for?
(BTW, you still owe me an answer from my previous post)
I'm not bitching bout it. Its fine with me. I'm just pointing out a fact. A small business need not be a mom/pop restaurant or a welding shop. Some of the top earners in this nation are a small business. A lot of those hedge fund managers and day traders are a small business.

The proposed tax increases only effect the top 2%(some say the top 3%) across the entire nation. And a lot of people fail to recognize that a small company owner draws a salary or wage just like the employees do. Its not the companies entire profits that taxes would go up on. Its the personal income that the taxes would go up on.

I ain't sure what other answer Im supposed to owe either.
4 sure

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#127
Nov 25, 2012
 
Left Brain Thinker wrote:
<quoted text>I'm not bitching bout it. Its fine with me. I'm just pointing out a fact. A small business need not be a mom/pop restaurant or a welding shop. Some of the top earners in this nation are a small business. A lot of those hedge fund managers and day traders are a small business.

The proposed tax increases only effect the top 2%(some say the top 3%) across the entire nation. And a lot of people fail to recognize that a small company owner draws a salary or wage just like the employees do. Its not the companies entire profits that taxes would go up on. Its the personal income that the taxes would go up on.

I ain't sure what other answer Im supposed to owe either.
The top two or three percent already pay about 60 percent of the tax revenue. Is that not enough? Proven fact. Tax increases hinder growth.
Right Brain Thinker

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#128
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
"Small business isn't defined by profits or corporavte campus size"
Taxes and tax rates aren't calculated based on the number of employees? They are based on profits.
"Donald Trump and Mitt Romney both qualify as a small business"
Mr. Trump is the chairman of a company with 22,000 employees. It's safe to say he's not a "small" businessman.
!
"

Try again. But try harder next time

Now, it's possible that some Trump businesses could still qualify as small by the SBA's definition. According to news reports, Trump has some holdings that are much smaller than 500 employees and have relatively modest revenues. In a story about a tax cut proposal from House Majority Leader Eric Cantor, R-Va., the Huffington Post wrote that Cantor’s cut could benefit "Donald Trump's Trump Tower Sales & Leasing, which has 20 employees and annual sales of about $960,000." CNN reported that "Trump also runs a number of other companies that employ fewer than 500" people.

http://www.politifact.com/truth-o-meter/state...

And the magic number is 500........not 50
"Try again. But try harder next time"?

You keep quoting SBA definitions about what qualifies as a small business?

The IRS does not care how many employees you have. They don't care if you are mom or pop or Donald Trump.

You can "copy and paste" all the articles you want, but high income earners, the "2%", pay the majority of taxes in this country.

“I don't need no stinkin job.”

Since: May 09

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#129
Nov 25, 2012
 
4 sure wrote:
<quoted text>
The top two or three percent already pay about 60 percent of the tax revenue. Is that not enough? Proven fact. Tax increases hinder growth.
You are wrong. Ronald Reagan raised taxes more often and more times than any modern day president and he pulled the nation out of the unemployment slump left by the Carter Administration. Bill Clinton raised taxes and the nation experienced the greatest economic growth during his administration. And those top 2% or 3% possess about 89% of the entire wealth of this country.

“I don't need no stinkin job.”

Since: May 09

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#130
Nov 25, 2012
 
[QUOTE who="Right Brain Thinker
"]<quoted text>
"Try again. But try harder next time"?
You keep quoting SBA definitions about what qualifies as a small business?
The IRS does not care how many employees you have. They don't care if you are mom or pop or Donald Trump.
You can "copy and paste" all the articles you want, but high income earners, the "2%", pay the majority of taxes in this country.
[/QUOTE]
The IRS certainly does care if you are a small business. Or not. And the top 2% or 3% possess about 89% of the entire wealth in this country. Ill cut and paste all day long. But I don't cut and paste from any right wing christain crusading blogspot.
Right Brain Thinker

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#131
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
"Try again. But try harder next time"?
You keep quoting SBA definitions about what qualifies as a small business?
The IRS does not care how many employees you have. They don't care if you are mom or pop or Donald Trump.
You can "copy and paste" all the articles you want, but high income earners, the "2%", pay the majority of taxes in this country.
"

The IRS certainly does care if you are a small business. Or not. And the top 2% or 3% possess about 89% of the entire wealth in this country. Ill cut and paste all day long. But I don't cut and paste from any right wing christain crusading blogspot.
The IRS does not have different rates for small and large business. Again, it's determined by the amount of profit.

If you run a DBA, Plc, or Llc, the "profit" flows through to your personal tax return. You pay marginal tax rates.

If you run a corporation, the salary you pay yourself and your employees is deducted as an expense. The corporation files a tax return based on its profit and pays the corporate tax rate. The employee files a tax return and pays the marginal tax rate on their income.

"the top 2% or 3% possess about 89% of the entire wealth in this country"

After all of your posts, you finally state what you really makes you mad. While some people actually inherit a fortune,(Kennedy or Rockafeller) the overwhelming majority of millionaires in this country are first generation rich.

They are rich because they work harder than you. We live in the only country in the world where your situation at birth has no effect on how you end up. This country does not guarantee outcomes, only opprotunities. If you aren't as rich as you want to be, the only person holding you back is you.
4 sure

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#132
Nov 25, 2012
 
Left Brain Thinker wrote:
<quoted text>You are wrong. Ronald Reagan raised taxes more often and more times than any modern day president and he pulled the nation out of the unemployment slump left by the Carter Administration. Bill Clinton raised taxes and the nation experienced the greatest economic growth during his administration. And those top 2% or 3% possess about 89% of the entire wealth of this country.
I cant believe you put the blame where it was due, Carter. And give Reagan credit. So why cant the great one, Obama get anything done. Btw, im not wrong
Right Brain Thinker

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#133
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
"Try again. But try harder next time"?
You keep quoting SBA definitions about what qualifies as a small business?
The IRS does not care how many employees you have. They don't care if you are mom or pop or Donald Trump.
You can "copy and paste" all the articles you want, but high income earners, the "2%", pay the majority of taxes in this country.
"

The IRS certainly does care if you are a small business. Or not. And the top 2% or 3% possess about 89% of the entire wealth in this country. Ill cut and paste all day long. But I don't cut and paste from any right wing christain crusading blogspot.
Hey, what do you know, my iPhone 5 can "copy and paste". This is from CNBC of all places. Hardly a "right wing christain crusading blogspot".

http://m.cnbc.com//id/49939444/The_Millionair...

“I don't need no stinkin job.”

Since: May 09

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#134
Nov 25, 2012
 
[QUOTE who="Right Brain Thinker
"]<quoted text>
The IRS does not have different rates for small and large business. Again, it's determined by the amount of profit.
If you run a DBA, Plc, or Llc, the "profit" flows through to your personal tax return. You pay marginal tax rates.
If you run a corporation, the salary you pay yourself and your employees is deducted as an expense. The corporation files a tax return based on its profit and pays the corporate tax rate. The employee files a tax return and pays the marginal tax rate on their income.
"the top 2% or 3% possess about 89% of the entire wealth in this country"
After all of your posts, you finally state what you really makes you mad. While some people actually inherit a fortune,(Kennedy or Rockafeller) the overwhelming majority of millionaires in this country are first generation rich.

[/QUOTE]

Here you go idjet.......

http://www.irs.gov/Businesses/Small-Businesse...

Now you can select and download multiple small business and self-employed forms and publications or you can call (800) 829-3676 to order forms and publications through the mail. If you are an aspiring entrepreneur and are unsure of which tax publications may be relevant to you, please consult our Starting a Business section, which provides an overview of your federal tax responsibilities. Please note: This list is not all-inclusive, so please visit Forms and Publications for other tax publications. Adobe Acrobat Reader is required to open the PDF files

“I don't need no stinkin job.”

Since: May 09

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#135
Nov 25, 2012
 
[QUOTE who="Right Brain Thinker
"]<quoted text>
Hey, what do you know, my iPhone 5 can "copy and paste". This is from CNBC of all places. Hardly a "right wing christain crusading blogspot".
http://m.cnbc.com//id/49939444/The_Millionair... [/QUOTE]
There wasn't anything in that blogspot that I didn't already know. Except this part....

---------
One caveat: Rates go up as income goes up óbut only to a point. Once you hit a certain magic number among super-high earners, your tax rates start to fall slightly.
----------

That part dosent sound fair to me.
Right Brain Thinker

Bixby, OK

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#136
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
The IRS does not have different rates for small and large business. Again, it's determined by the amount of profit.
If you run a DBA, Plc, or Llc, the "profit" flows through to your personal tax return. You pay marginal tax rates.
If you run a corporation, the salary you pay yourself and your employees is deducted as an expense. The corporation files a tax return based on its profit and pays the corporate tax rate. The employee files a tax return and pays the marginal tax rate on their income.
"the top 2% or 3% possess about 89% of the entire wealth in this country"
After all of your posts, you finally state what you really makes you mad. While some people actually inherit a fortune,(Kennedy or Rockafeller) the overwhelming majority of millionaires in this country are first generation rich.

"

Here you go idjet.......

http://www.irs.gov/Businesses/Small-Businesse...

Now you can select and download multiple small business and self-employed forms and publications or you can call (800) 829-3676 to order forms and publications through the mail. If you are an aspiring entrepreneur and are unsure of which tax publications may be relevant to you, please consult our Starting a Business section, which provides an overview of your federal tax responsibilities. Please note: This list is not all-inclusive, so please visit Forms and Publications for other tax publications. Adobe Acrobat Reader is required to open the PDF files
Good grief. I'm not saying the IRS doesn't recognize a "small business". I'm saying the size of your business, the number of employees, doesn't have anything to do with your tax rate. Your tax rate, the amount you owe, is based on how much you make.
Right Brain Thinker

Bixby, OK

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#137
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
Hey, what do you know, my iPhone 5 can "copy and paste". This is from CNBC of all places. Hardly a "right wing christain crusading blogspot".
http://m.cnbc.com//id/49939444/The_Millionair... ;

There wasn't anything in that blogspot that I didn't already know. Except this part....

---------
One caveat: Rates go up as income goes up ¬óbut only to a point. Once you hit a certain magic number among super-high earners, your tax rates start to fall slightly.
----------

That part dosent sound fair to me.
If you "already knew" that rich people pay the highest rates and the majority of the taxes, what more do you want from them.

The rates start to fall because more of their income comes from investments than from earned income. But remember, the money they bought the investment with was already taxed as ordinary income. Then it's taxed again as a capital gain. It's double taxed.

Once again, tax revenue is not the problem. Spending is the problem.

“I don't need no stinkin job.”

Since: May 09

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#138
Nov 25, 2012
 
[QUOTE who="Right Brain Thinker
"]<quoted text>
If you "already knew" that rich people pay the highest rates and the majority of the taxes, what more do you want from them.
The rates start to fall because more of their income comes from investments than from earned income. But remember, the money they bought the investment with was already taxed as ordinary income. Then it's taxed again as a capital gain. It's double taxed.
Once again, tax revenue is not the problem. Spending is the problem.[/QUOTE]
Thats exactly the kind of rhetoric that got Mittwit defeated. BOTH spending and revenues (lack of) is the problemS. You righties just can seem to learn from history.

But here's the real deal. Federal taxes are going up next year. The only question to be answered is on "who". President Obama has already declared that he will extend the geedubya era tax cuts for the middle class. He says he will sign that legislation right now. That being the case, if taxes do go up on the middle class it will fall squarely on the shoulders of the republican taliban. And they will pay dearly for it.

You can just keep on spewing your Wean Hannity venom and I will just keep on blistering your azz crimson red. Thats fine with me.
4 sure

United States

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#139
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
If you "already knew" that rich people pay the highest rates and the majority of the taxes, what more do you want from them.
The rates start to fall because more of their income comes from investments than from earned income. But remember, the money they bought the investment with was already taxed as ordinary income. Then it's taxed again as a capital gain. It's double taxed.
Once again, tax revenue is not the problem. Spending is the problem. "

Thats exactly the kind of rhetoric that got Mittwit defeated. BOTH spending and revenues (lack of) is the problemS. You righties just can seem to learn from history.

But here's the real deal. Federal taxes are going up next year. The only question to be answered is on "who". President Obama has already declared that he will extend the geedubya era tax cuts for the middle class. He says he will sign that legislation right now. That being the case, if taxes do go up on the middle class it will fall squarely on the shoulders of the republican taliban. And they will pay dearly for it.

You can just keep on spewing your Wean Hannity venom and I will just keep on blistering your azz crimson red. Thats fine with me.
You admit spending is part of the problem. There may be hope for ypu yet. Did you know the debt went up from just over 10 trill to over 16 in Obamas 1st 4.. Is that ok with you? Our debt goes up 60% in one term? Im not reciting talking points like you but facts. We cant spend our way out of this. We cant give everybody everything.
Right Brain Thinker

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#140
Nov 25, 2012
 
Left Brain Thinker wrote:
[QUOTE who="Right Brain Thinker
"]<quoted text>
If you "already knew" that rich people pay the highest rates and the majority of the taxes, what more do you want from them.
The rates start to fall because more of their income comes from investments than from earned income. But remember, the money they bought the investment with was already taxed as ordinary income. Then it's taxed again as a capital gain. It's double taxed.
Once again, tax revenue is not the problem. Spending is the problem. "

Thats exactly the kind of rhetoric that got Mittwit defeated. BOTH spending and revenues (lack of) is the problemS. You righties just can seem to learn from history.

But here's the real deal. Federal taxes are going up next year. The only question to be answered is on "who". President Obama has already declared that he will extend the geedubya era tax cuts for the middle class. He says he will sign that legislation right now. That being the case, if taxes do go up on the middle class it will fall squarely on the shoulders of the republican taliban. And they will pay dearly for it.

You can just keep on spewing your Wean Hannity venom and I will just keep on blistering your azz crimson red. Thats fine with me.
Rhetoric like "republican taliban"? I don't listen to Sean Hannity. I told you that I rely on good old fashioned "common sense". The kind that our grandparents used. You are too caught up in your "politics".

"BOTH spending and revenues (lack of) is the problemS"

If so, then why is the only solution raising taxes?

Here's the real deal. Taxes may or may not go up. Spending is guaranteed to go up. Which gets back to the real problem. It's not lack of tax revenue, it's spending.

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