Tuesday, October 21, 2008

New Taxes in Economic Crisis

Does that even make sense? Let's tax big businesses and give their money to poor people? How will that help anyone? They don't have jobs, but heck they got a stimulus check for $1200. That's the change we wanted!

What Obama and his economic advisors are missing is that big businesses create jobs. They create economic growth. They create investment opportunities. 401k plans are investments in big business. In his own word with the "greatest economic crisis since the Great Depression" looming, he presents us with increased taxes on businesses and the wealthy and a tax break for 95% of Americans. Well how can you give a tax break to 95% of Americans when 40% of Americans don't pay any taxes at all? How does that create jobs? When was the last time a guy making $20k a year gave you a job?

I'm concerned with this because I am about to start a small businesses. If I want to hire employees than I need to earn enough money to pay them. Let's say I pay them about $15 per hour, which is a decent wage. I would have to earn at least $60k per year just to pay for 2 employees!

What about my businesses expenses? A good business runs at about 50-60% overhead cost. So overall if I want to make $120k before taxes, I would have to make about $250k. So I'm going to be taxed at an ever increasing tax rate under Obama, even though I don't get to take home that money. So my $120 grand turns into about $70k. Not bad right? Well considering that i had to put in enough work for $250k and only get to take home about $70k is not exactly fair. Especially when my taxes end up going to a guy who hasn't made enough money to even pay taxes and now he gets my taxes as some sort of bonus!!!???? Good job, you don't work nearly enough, here's some money from that guy who works too much.

So some Joe Schmoe gets to not only keep 100% of his earning, because he doesn't pay taxes, and on top of that gets some of my money. While I only get to keep about 30% of my earnings? What's so fair about that?

Well guess what, I guess I'll let one person go, save $30k and try to make up some of the difference. That plan sure created more jobs didn't it? Nope.

2 comments:

Marty W. Jensen said...

CHARITY BY FORCE OF IMPRISONMENT OR FINES


Oh, come on. If we don't have more taxes, how can the government give more of your money to deadbeats?

I feel your pain. I came home after working my full-time job plus a part-time job, and noticed the neighbors were enjoying a barbecue. I went inside to enjoy my macaroni and cheese while they cooked up steaks on the grill.

Oh, who were these neighbors? Well, the man didn't work, even though he was young, strong, and able. The woman was a welfare baby machine--the more children you have, the more money welfare gives you.

And who paid for their steaks? You guessed it! Myself and every other working taxpayer in the state.

But did we have a choice in this redistribution of our hard-earned money? Try not paying your taxes and see how quick you are fined or imprisoned, . . .

Marty W. Jensen said...

A DOSE OF LIBERTARIANISM

Lucky, it sounds like you're preaching libertarianism, . . .

Plank 2 of the Libertarian Party's platform addresses your concerns about the government's heavy-handed distribution of YOUR hard-earned money:

2.0 Economic Liberty

A free and competitive market allocates resources in the most efficient manner. Each person has the right to offer goods and services to others on the free market. The only proper role of government in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected. All efforts by government to redistribute wealth, or to control or manage trade, are improper in a free society.

http://www.li.org