Thank You Mr. President

[Eileen West]

Are you a small business owner UGABUGA? Have you ever had to make sure you had enough money in the bank to make sure 115 employees could cash their payroll checks, have you ever had to make sure your bank account had enough money each week to meet your companies business expenses, have you ever had to make sure you had enough money to make sure you could pay for the employees heath care costs and all of other taxes associated with being a small business owner. If you are then God bless you because you are helping support 70% of the jobs in this country. These problems were not an issue 8 years ago. They are NOW!!!!, so until you are in our shoes dont tell me about thanking the last President. The issues have resulted from decisions this President and this Congress have made in the past 18 months.

I am a small business owner who has had to make drastic changes, lay off personnel, cut my overhead to the bare essentials and work 7 days a week to stay open. Do I blame the Obama administration? No, I get to work with or without a sad expression on my face and try to get through this.

 

[poppy]

I was going to leave this blank but that would not be any fun. These people who can not see the President is killing small business, you have probably never owned anything, and I wonder if they can even balance their checkbook. A question to those who can not see that Obama & his policies are destroying this country:

Have you EVER worked for a poor person?

Most people in this country are employed by small business, although government is now giving the private sector a run for it's money. "Wastin Away", it amazes me how many people criticize tax cuts for the "so-called" rich. First of all, if you own a business, you hire over 100 employess, which means over 100 people are paying TAXES, you take a MAJOR risk, why should you be taxed more? If you have more of your money, that means you can expand, give raises, "save" jobs (as the govt. likes to say), and more people are employed. The more money you pay to the government, the more these people will see that Obama is destroying this country-only when it hurts THEM. If you make 30k a year, you can not get 50k back in taxes-sorry people.... I think these Obama supporters deep down, know that is in way over his head... This is WHY we usually elect governors as Presidents because they have ran SOMETHING, ANYTHING. Obama has never run a bakery, or even an ebay store. Everytime he looking in the mirror, he must think about the movie "Trading Places." WAKE UP PEOPLE!!!!

Five Myths About the Bush Tax Cuts - Brookings Institution

One of the most common objections to letting the cuts expire for those in the highest tax brackets is that it would hurt small businesses. As Sen. Orrin Hatch (R-Utah) recently put it, allowing the cuts to lapse would amount to "a job-killing tax hike on small business during tough economic times."
This claim is misleading. If, as proposed, the Bush tax cuts are allowed to expire for the highest earners, the vast majority of small businesses will be unaffected. Less than 2 percent of tax returns reporting small-business income are filed by taxpayers in the top two income brackets -- individuals earning more than about $170,000 a year and families earning more than about $210,000 a year.
And just as most small businesses aren't owned by people in the top income brackets, most people in the top income brackets don't rely mainly on small-business income: According to the Tax Policy Center, such proceeds make up a majority of income for about 40 percent of households in the top income bracket and a third of households in the second-highest bracket. If the objective is to help small businesses, continuing the Bush tax cuts on high-income taxpayers isn't the way to go -- it would miss more than 98 percent of small-business owners and would primarily help people who don't make most of their money off those businesses.

This is not my area, maybe Buz can comment on this.

 

[30ashopper]

The cuts lowered tax rates across the board on income, dividends and capital gains; eventually eliminated the estate tax; further lowered burdens on married couples, parents and the working poor; and increased tax credits for education and retirement savings. Obama's proposal would extend most of these reductions, allowing only those for individuals making more than $200,000 and families making more than $250,000 to expire.

So aside from one minor provision, Obama supports Bush's "tax cuts for the rich". Good to know. Do the democrats on this board support them as well? Poppy, LVT, care to comment?

 

[Bob]

"Megabubba" ? I think this kinda denigrates the term bubba, doesn't it? I think the the only place you'll see any "good" he did is in the pockets of the Wall Street fat cats. (Yes, some people made out like bandits during his term as fratboy-in-chief.)

doublebubbas

 

[poppy]

So aside from one minor provision, Obama supports Bush's "tax cuts for the rich". Good to know. Do the democrats on this board support them as well? Poppy, LVT, care to comment?

Yes, as I stated in my post this is not my area. I provided the link to counter the argument that expiring tax cuts hurt small businesses.
Two questions, did the Bush tax cuts help create small businesses and do tax cuts really pay for themselves?

 

[groveral]

Are you a small business owner UGABUGA? Have you ever had to make sure you had enough money in the bank to make sure 115 employees could cash their payroll checks, have you ever had to make sure your bank account had enough money each week to meet your companies business expenses, have you ever had to make sure you had enough money to make sure you could pay for the employees heath care costs and all of other taxes associated with being a small business owner. If you are then God bless you because you are helping support 70% of the jobs in this country. These problems were not an issue 8 years ago. They are NOW!!!!, so until you are in our shoes dont tell me about thanking the last President. The issues have resulted from decisions this President and this Congress have made in the past 18 months.

you are dead on, don't listen to the liberal apologists who are clinging to the last thread of hope that "change" is helping---yeah, right.

 

[30ashopper]

Yes, as I stated in my post this is not my area. I provided the link to counter the argument that expiring tax cuts hurt small businesses.
Two questions, did the Bush tax cuts help create small businesses and do tax cuts really pay for themselves?

Clearly Obama thinks so. ;-)

 

[beachFool]

Five Myths About the Bush Tax Cuts - Brookings Institution


This is not my area, maybe Buz can comment on this.

Great article. Everyone should read it

Here is another good one

http://www.npr.org/blogs/thetwo-way...stockman-opposes-extended-bush-tax-cuts-icymi

Tax cuts can be beneficial, but when we are under a mountain of debt like today they will only add to the deficit.

If I am wrong then David Stockman, Budget chief under Ronald Reagan, and conservative Alan Greenspan are wrong, too.

Please don't throw me in that briar patch...and the tar baby just sat there...didn't say a thing.

I am not an expert on tax policy. What is getting lost in the rhetoric is the need for a sustainable budget.

It is possible for our nation to have a sustainable budget without raising taxes but there will have to be a substanial and painful reduction in the growth of spending.

There are no easy answers. Americans want it all, we want it now and we, really, really, really want somone else to pay for it.

Thanks for asking.

 

[30ashopper]

Great article. Everyone should read it

Here is another good one

David Stockman Opposes Extending Bush Tax Cuts : The Two-Way : NPR

Tax cuts can be beneficial, but when we are under a mountain of debt like today they will only add to the deficit.

If I am wrong then David Stockman, Budget chief under Ronald Reagan, and conservative Alan Greenspan are wrong, too.

Please don't throw me in that briar patch...and the tar baby just sat there...didn't say a thing.

I am not an expert on tax policy. What is getting lost in the rhetoric is the need for a sustainable budget.

It is possible for our nation to have a sustainable budget without raising taxes but there will have to be substanial and painful reduction in the growth of spending.

There are no easy answers. Americans want it all, we want it now and we, really, really, really want somone else to pay for it.

Thanks for asking.

Well put.

 

[sisters4]

I am getting in on this discussion way after the fact. A few notes that I take from an article in my local paper written about a former director of the Congressional Budget Office. I don't know the co author but he is coordinator of Operation Healthcare Choice. People have to think about what they write. This is going to create a strong incentive for small businesses (who create many jobs) to call it quits. "The authors of the health care law reflect liberal indifference to the climate for business, perhaps believing that businesses have a hidden well of resources or an infinite ability to evade the burdens placed on them." Do people know that Obama wants to require small business to submit Form 1099 to the IRS for every supplier from which they purchase more than $600.00 of goods a year? So now we are going to have to 1099 companies like Staples for our office supplies, the company that we get a new desk from, supplies that we have to get? That takes more time and time is money. I thought it was well written. My husband and I have a small business and we employ 450 people. We supply a lot of jobs and we are having to spend a lot of money to abide by the increasing regulatory issues that are being put upon us.