Small Business Being Taxed to Death
Tags: Obama Depresssion.
Obamunism at work:
America’s jobs growth engine is being choked to death.
A record 25 percent increase in the taxes against US small businesses — from costs associated with new health care law, to an increased Medicare tax, increased capital gains taxes and higher state and city taxes — is repealing any ability of these entrepreneurs to add jobs to their payroll.
And the numbers for New York’s small- to medium-sized business are just as harrowing.
By one estimate, the effective tax rate on the 26 million small businesses across the country — which in the past have accounted for more than half of the job growth in the US — has jumped to 50 percent from 40 percent, sucking valuable cash from the businesses.
And here’s the really bad news: the Bush tax cuts expire on December 31st and so there will be an even larger burden on small businesses in 2011 (that is taxes on “the rich” in liberal-speak…of course, “the rich” are never people like George Soros…but they are owners of small and mid-sized businesses). One friend of mine pretty wise in these things figures that part of the reason we’re seeing a bit of economic growth in 2010 is because businesses are front-loading as much business activity as they can in to 2010 in order to avoid paying higher taxes on it in 2011…but the down side there is that 2011 activity will then be much, much less.
We’re in a really bad way and unless President Obama swiftly changes course – by, say, renewing the Bush tax cuts – then we’re going to have a very rough ride.
Mark Noonan is co-author (with Matt Margolis) of Caucus of Corruption: The Truth About The New Democratic Majority. He also blogs at Nevada News and Views. Follow Mark on Twitter.
14 Responses to “Small Business Being Taxed to Death”
Caucus of Corruption
Taxed to death?????
Yeahhhhhhh tell me all about it!
They must be “the rich” because we all know that only “the rich” are supposed to carry the freight for the transformation of the nation.
Ama
then im so “rich” im poor got it.
We are all told that our cynicism is just anger at having a black president. But the last time we had a socialist president trying to use an economic down cycle to force-feed Leftist agendas down the the throats of Americans, there was a lot of cynicism about the promises of these ideologues as well.
In the 30s, the ‘homeless’ were called hobos and wandered around the country, living in hobo ‘jungles’ and hopping freight trains, being run off by railroad security and often being jailed for vagrancy. There was a song of the era that showed the cynicism of the people as they were promised one wonderful thing after another.
…………………..
Big Rock Candy Mountain
One evening as the sun went down and the jungle fire was burning
Down the track came a hobo hiking and he said boys I’m not turning
I’m headin for a land that’s far away beside the crystal fountains
So come with me we’ll go and see the Big Rock Candy Mountains
In the Big Rock Candy Mountains there’s a land that’s fair and bright
Where the handouts grow on bushes and you sleep out every night
Where the boxcars are all empty and the sun shines every day
On the birds and the bees and the cigarette trees
Where the lemonade springs where the bluebird sings
In the Big Rock Candy Mountains
In the Big Rock Candy Mountains all the cops have wooden legs
And the bulldogs all have rubber teeth and the hens lay soft boiled eggs
The farmer’s trees are full of fruit and the barns are full of hay
Oh, I’m bound to go where there ain’t no snow
Where the rain don’t fall and the wind don’t blow
In the Big Rock Candy Mountains
In the Big Rock Candy Mountains you never change your socks
And the little streams of alcohol come a-trickling down the rocks
The brakemen have to tip their hats and the railroad bulls are blind
There’s a lake of stew and of whiskey too
You can paddle all around ‘em in a big canoe
In the Big Rock Candy Mountains
In the Big Rock Candy Mountains the jails are made of tin
And you can walk right out again as soon as you are in
There ain’t no short handled shovels, no axes saws or picks
I’m a goin to stay where you sleep all day
Where they hung the jerk that invented work
In the Big Rock Candy Mountains
I’ll see you all this coming fall in the Big Rock Candy Mountains
But…. But…. But….
Obamateur has promised small businesses a capital gains “tax cut”. The mindless, useful-idiot drones will eat that talking point up!
Of course, we all know that the huge majority of small busineses do not pay capital gains taxes.
Yeah, you have to sell a capital asset at a profit before the capital gains tax comes into play. I’ve run two small businesses and have NEVER had a situation where either company owed a capital gains tax.
It’s just more smoke and mirrors to gull the gullible—like increasing agency funding by 200-300% and then piously declaring a “freeze” on their budgets.
Remember the outrage when it was revealed that fully HALF of American incomes fall below the median?
Something’s gotta be done about that…..
Wait until the young Obamabots are impacted with this!
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http://www.msnbc.msn.com/id/36087653/ns/health-health_care/
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Liberals certainly want higher taxes, just as long as they don’t have to pay them
cluster
Higdon wonders how his peers, already scrambling to start careers during a recession, will react to paying more so older people can get cheaper coverage.
Hey who cares?
these kids bought into the lie of “hope and change” B.S. and socialism……..actions have consequences let em eat cake for the next 50 years.
GOT EM STUMPED…not a single one of our stooges with reply…
SHHHH!!!
Once we regain a majority and the presidency and repeal & replace all of this socialism–how about a “wealth tax” of, say, 50% starting with the richest Americans and working down to balance the budget.
One caveat is, like the doctor in Florida, only those who voted for Obama would be taxed since they already believe in sharing the wealth. Among others, I am sure Soros and the Hollywood elite wouldn’t mind.
Did anyone see the obamateur’s rambling 17-minute, 2500+ word “answer” to avoid a simple question.
The question: “In the economic times that we have now, is it a wise decision to add more taxes to us with the health care? Because it — we are over-taxed as it is.”
http://www.breitbart.tv/obama-gives-17-minute-2500-word-response-to-womans-claim-of-being-over-taxed/
As usual, the community organizer, did not answer the question. He just did a brain dump with a bunch of nonsense about wealth siezure and income redistribution – socialist concepts.
This is what cracks me up when someone, like the Dem TEA Partier, refers to Obama as a ‘brilliant orator’.
He’s an actor, and like many actors, can’t speak a coherent sentence without a script in front of him.
I remember when Northern Exposure was big on TV and a friend and I really liked one of the actors, John Corbett, the guy who played the radio host/philosopher. I called her one night to tell her I had just seen this guy on a late-night TV show and he was sooooo stupid it was embarassing to see him try to have a normal conversation. She was sure I was wrong, but called me back a couple of nights later to say she’d seen him on another show and had never been so surprised. The man could barely string six words together.
But he’s a decent actor. And I’m sure, like Barry, if the teleprompter were to malfunction and start spooling the same paragraphs over and over again, he’d just keep reading them over and over again, with the same inflections.
An empty suit.