Economic Woes Jeopardize Dems' Prospects

Economic Woes Jeopardize Dems' Prospects

There are 193 comments on the WFMZ story from Sep 4, 2010, titled Economic Woes Jeopardize Dems' Prospects. In it, WFMZ reports that:

Frustrated, discouraged and just plain mad, a lot of people who have lost jobs -- or know someone who has -- now want to see the names of Democrats on pink slips.

Join the discussion below, or Read more at WFMZ.

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piginapoke

Columbus, OH

#193 Sep 15, 2010
Teach wrote:
<quoted text>
There's nothing more laughable than a know-it-all that doesn't know it all.
The business I work for is a DBA (Doing Business As...), better known as a sole proprietorship. The owner is taxed as an individual (he is the business), and taxes are based on the business entity income, not profit, minus all kinds of deductions, many that Incs and LLC's don't get. Sole proprietors are also personally liable for all debts and expenses incurred by their business, unlike Incs or LLC's.
Again, that's why letting the over $250,000 tax cut sunset in 2011 is going to hurt many small businesses. It's going to increase my employers tax rate by 4.6%, though his income (profit) is nowhere near 250,000.
I don't know where you're getting your information from, but if a sole propieter is paying taxes on anything other than after expense profit then he better get an accountant, because it doesn't work that way. The tax code also allows operating losses to be carried over, so if he lost money last year he still doesn't owe tax.

Business entity income and profit are the same thing. If he's making over 250k a year in net profit than he's either not paying his employees enough or over charging his customers. Either way he would certainly be the last person who needs help from the government at this time.
Clarify your Minds

Anonymous Proxy

#194 Sep 15, 2010
Stop following the leader, and be a leader of your own intellect. There is no guru or leader of mankind or country, not any longer, not with mainstream-fed BS and authors out to make a penny from you. All reporters, academics and elitists do is try to sound different and insightful.

Businesses in America are already the highest taxed in the world, contribute more than 40% of taxes, not including small businesses. They don't take their money out and put it in their tidy personal bank accounts. The money belongs to the corporation. They do what is called reinvestment in their business, and expand so they can hire more. Listen to Intel's CEO, who is no enemy of Obama's, should you want to paint him that way in your broken records against good companies. IF you want to rile against an entity, rile against Wall Street, usually Democrat types like Buffet, who demand high earnings as stock owners.

http://www.redstate.com/lexington_concord/201...

Most CEOs tend to throw some money at candidates who are expected to win and keep their heads down. Which is why Intel CEO Paul Otellini’s total evisceration of Obama’s understanding of the economy in the middle of an election season was such a shocking breath of fresh air today.

Otellini is also one of the first Fortune 500 CEOs to speak publicly about President Obama’s newly proposed $350 billion economic recovery plan. He said that proposal, which includes tax breaks for businesses and research and development incentives, is not the right plan either.

The way Otellini sees it, Washington must decide what the industries of the future are.“We still subsidize trains and agriculture — industries of the 19th century. We should decide what’s important to us going forward and make sure we’ve got the education system in place and the capital incentive system in place to do the investment here.”

Otellini also said that a major problem for companies is that they are being held back by high corporate tax rates.

Otellini says it costs Intel (INTC, Fortune 500)$1 billion more to build a factory in the U.S. than abroad because of a lack of U.S. tax incentives. The company has a multi-billion dollar factory slated to open in China this October.

“You have to weigh the advantages of working here, the security of working here in this country…against that billion dollars.”

Otellini questioned why global business leaders would want to do business in the U.S. due to the cost, saying it is critical to incentivize foreign countries to invest in America.“Our corporate taxes are twice what they are in the rest of the world. You want corporations to invest here.”
JRM

Ashtabula, OH

#195 Sep 16, 2010
Clarify your Minds wrote:
Businesses in America are already the highest taxed in the world, contribute more than 40% of taxes, not including small businesses. They don't take their money out and put it in their tidy personal bank accounts. The money belongs to the corporation. They do what is called reinvestment in their business, and expand so they can hire more. Listen to Intel's CEO, who is no enemy of Obama's, should you want to paint him that way in your broken records against good companies. IF you want to rile against an entity, rile against Wall Street, usually Democrat types like Buffet, who demand high earnings as stock owners.
http://www.redstate.com/lexington_concord/201...
Most CEOs tend to throw some money at candidates who are expected to win and keep their heads down. Which is why Intel CEO Paul Otellini’s total evisceration of Obama’s understanding of the economy in the middle of an election season was such a shocking breath of fresh air today.
Otellini is also one of the first Fortune 500 CEOs to speak publicly about President Obama’s newly proposed $350 billion economic recovery plan. He said that proposal, which includes tax breaks for businesses and research and development incentives, is not the right plan either.
The way Otellini sees it, Washington must decide what the industries of the future are.“We still subsidize trains and agriculture — industries of the 19th century. We should decide what’s important to us going forward and make sure we’ve got the education system in place and the capital incentive system in place to do the investment here.”
Otellini also said that a major problem for companies is that they are being held back by high corporate tax rates.
Otellini says it costs Intel (INTC, Fortune 500)$1 billion more to build a factory in the U.S. than abroad because of a lack of U.S. tax incentives. The company has a multi-billion dollar factory slated to open in China this October.
“You have to weigh the advantages of working here, the security of working here in this country…against that billion dollars.”
Otellini questioned why global business leaders would want to do business in the U.S. due to the cost, saying it is critical to incentivize foreign countries to invest in America.“Our corporate taxes are twice what they are in the rest of the world. You want corporations to invest here.”
Corps paid 25% of all taxes in the 1960's. In 2007, corp taxes were 12% of government revenue. Corps are sitting on 2 trillion in CASH today. Freeport McMoran is mining gold in Africa and paying a 55% tax, they are still mining today. Check out world corp tax rates at Wikipedia, google : world corp tax rates, you will be surprised. http://en.wikipedia.org/wiki/Tax_rates_around... I take money out of my corp. The money belongs to the shareholders! Agriculture is big business, the world is running out of food, the USA can grow some food, I'm in the business. Wall Street, what I call Joe Rich Man and his corps, do OWN the politicans. They are in charge and they move the jobs to China, not Bush or Obama or Strickland or Kasich or the unions or anybody else. A CEO in China said, "it all about MONEY" there. Why pay an American $7 an hour, when you can pay $1.00 in China?? Just ask GE as they closed Ohio bulb plants and moved to China. Most of them are all patriots to the almighty dollar. I call it GREED. I do listen to what worldwide CEO's say, no TV or papers or internet articles written by amateurs, or politicians. Speaking of taxes, did you know that in the 1960's and 1970's, the highest income tax rate was 90% in the USA??? Now it's 35%. So if corps used to pay 25%, now 12% and Joe Rich Man paid 90% now 35%, would you like to guess who paying all the taxes today??? YOU ARE. The middle class is. It's time for Americans to wakeup! If you want to blame someone for the mess the USA is in, try looking in the mirror first.
Really

Spartanburg, SC

#196 Sep 20, 2010
scrwdtaxpayer wrote:
<quoted text>
God you're such a stupid brain washed right-wring redneck moron. Nobody loses their home if a business fails, moron, business debt and expense are seperate than personal income. If you say otherwise you're also a dam liar.
If you truly own a business and make a lot of money, then pay your taxes like everybody else. Why do you whine and cry and expect other taxpayers to support you? It must be awful to be as dumb as you and yet think you're so smart, knowing that you'll always be a worthless drain on society, getting others to pay your way for you.
I reiterate... you are either very young or very stupid. You without a doubt own nothing and probably never will.

Funny that a lib mooch like you is trying to say that because I own homes, cars, and a few "toys" that somehow "Others" are paying for me? Who exactly are these "Others"? Unemployed welfare libs like you perchance? You have no clue about real life little fool.

But to lets give your stupidity a chance shall we?

Help us out here genius.... IF I own things and provide employement and you own nothing and provide nothing of value to the country in any way shape or form.... explain how an idiot loser like you supports anything.... c'mon fool explain that one to us.
Really

Spartanburg, SC

#197 Sep 20, 2010
JRM wrote:
<quoted text>
A smart business owner is a corporation or LLC. Your personal assets are protected.
If you leverage your personal home to support the business it is not protected.
sam

Middletown, OH

#198 Sep 22, 2010
According to the experts,the recession has bottomed out and the economy is responding to the governments stimulus plan.I'm glag because I still have my home and am not bankrupt.I hope the citizens don't put the Republicans back in power so they can put us into another recession.I don't think I could stand another Republican attack.
sam

Middletown, OH

#199 Sep 22, 2010
The guy from Hollywood is probably a retired person with a Union pension.He probably bad mouths the Unions too.If It wasn't for the Unions,most Americans would be on welfare.Thats the way business wants it.Those that have anything,whether Union or not,owe what they own to Unions because without them they wouldn't have been paid fair wages for work they did.(Except for Wall Street yuppies who stold from those working people.
sam

Middletown, OH

#201 Sep 23, 2010
I'am sick of Republicans telling us that the "American people want".These boot lickers don't speak for the American people.They speak for the banks.Anyone who can remember past yesterday knows this.
gowhackurself

Sellersville, PA

#203 Sep 23, 2010
Paleface Obama wrote:
<quoted text>
Warren Buffet, Tim Geithner, and a majority of Democrats got rich off Wall Street. You haven't a clue as to what reality is when it comes to the Democrats because they use your naivete and sense of entitlement. You spout what the media tells you, and we all know they are liars. The reporters themselves have admitted this time and time again.
Ur a suck up to the refuklicans.
Chuck

New Hope, PA

#205 May 25, 2012
The commentary on Wfmz tv would be much better if the comments were backed up by the complete set of facts instead of just pieces that they pull out. It was Bush that bankrupted the country not the currant President. He has done a lot to try and fix the Bush screwups. No one can fix up in a short time what Bush worked for 8 years to destroy.
A_Visitor

Allentown, PA

#206 May 25, 2012
Chuck wrote:
The commentary on Wfmz tv would be much better if the comments were backed up by the complete set of facts instead of just pieces that they pull out. It was Bush that bankrupted the country not the currant President. He has done a lot to try and fix the Bush screwups. No one can fix up in a short time what Bush worked for 8 years to destroy.
EXACTLY !!!!

Kennesaw71

Since: Mar 11

United States

#207 May 25, 2012
You guys want jobs???? It's simple. Set the corporate tax rate to ZERO AND.......forgive any tax debts by Americans holding close to 15 trillion dollars in offshore banks never to come home guaranteed.....
.
Economic growth would go from Ceasar Obamus' anemic growth rate to Reaganesque nearly instantly.
.
The percentage of revenue generated by corporate taxes is less than 10 tucking percent anyway. That'll more than pay for itself with people paying income taxes from millions of new jobs.
.
Yes it really is just that fuckin simple.
xxxrayted

Brook Park, OH

#208 May 26, 2012
Chuck wrote:
The commentary on Wfmz tv would be much better if the comments were backed up by the complete set of facts instead of just pieces that they pull out. It was Bush that bankrupted the country not the currant President. He has done a lot to try and fix the Bush screwups. No one can fix up in a short time what Bush worked for 8 years to destroy.
Except for the fact that Bush had six good years out of eight. Obama had none. The economy was led by the housing collapse which had many Democrat fingerprints on it starting way back in the Carter days. It was Democrats who defended loan practices before the collapse and stopped Republicans from creating an oversight committee for Fanny and Freddy.

DumBama did nothing to help this country. Most of his actions were to help himself or the Democrat party. It's been three and a half years now. Time to stop blaming Bush for the incompetency of this clown in the White House. Reagan had a worse situation on his hands, and he managed to pull us out of it by the end of his first term.

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