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Obama will not extend Bush tax cuts to wealthy

I don't know a whole lot about owning a business or accounting, so I'm hoping someone can answer this for me...

When someone owns a small business and the business makes a profit of say, $500,000 in one year, what is keeping the owner from paying them self $249,999.99 ( as their personal income and putting the other $250,000.01 into some kind of asset account? I'd think you would be able to pay yourself $249,999.99 and still be considered "middle class" according to Obama's tax plan. If I owned a business I'd likely only pay myself $50k to $100k anyways... the less money I pay myself the more I can put into the business and hopefully make the company more profitable and possibly be able to hire more people. I don't need a luxurious life to be happy. I'm not one to dictate what someone should be making... Just asking questions here.

But I am confused why people are so outraged about a 3-4.6% increase in taxes for a select few when often these same people talk so much about balancing the budget. Cutting government programs is not enough to close the budget gap... and cutting programs is unfortunately a slow process. If the Republicans take over, which I expect they will, I hope they keep their promise and start cutting and changing government programs we don't need at a faster pace than the Dems have been. I have serious doubts though...

Here is the problem. Small business file as S-corporations, and under Obama's plan, he will also tax the $250,000 in that asset account. Small businesses need backup capital, but Obama is going to tax that to at the end of the year.
 
They have low worth though it seems. I think the US needs to stick to technology, the tax cuts should be aimed at the biotech industry, America has always been the land of inovation and those jobs be readily available would serve to push better math and science education in this country.

No, parenting would serve better for math and science education in this country.

Parenting has reached deplorably pathetic levels in this country. Of course, to many of today's liberals, parenting is an inconveniet cramp to their party lifestyle, and it's the state's job to raise their kids.
 
Of course, to many of today's liberals, parenting is an inconveniet cramp to their party lifestyle, and it's the state's job to raise their kids.

Hyperbole | Define Hyperbole at Dictionary.com

–noun Rhetoric .
1. obvious and intentional exaggeration.
2. an extravagant statement or figure of speech not intended to be taken literally, as “to wait an eternity.”
 
Obama and this adminstration does nothing to encourage growth. Everthing they've put forth so far has killed jobs. I think that might be the goal.

That's a conspiracy theory with some substance, Barbbtx. It's difficult to see how the economy could be more mismanaged unless it was deliberate. As well. he seems to be deliberately encouraging class warfare, apparently not recognizing the fact that he should be president to ALL Americans and not pit them against each other.

There must be a great deal of buyer's remorse by those who actually voted for this guy.
 
No, parenting would serve better for math and science education in this country.

Parenting has reached deplorably pathetic levels in this country. Of course, to many of today's liberals, parenting is an inconveniet cramp to their party lifestyle, and it's the state's job to raise their kids.

Listen, I was not advocating for the state raising of children. Please leave your conservative mantra aside and discuss issues and ideas, not simply negative cannotations for those who do not believe as you do. My reference was to that of education funding and the need to focus more on science and mathmatical training in a nation that is falling ever behind in the said areas.
 
That As well. he seems to be deliberately encouraging class warfare.

How the hell is that so?

That is by far actually dumber then suggesting he's a muslim from Kenya because that statement is so off the charts idiotic as it is untrue.

Class Warfare?

Just because he wants to raise taxes on people that are already rich... and not even by a massively substancial amount...

Yep Class Warfare at it's worse...
 
That's a conspiracy theory with some substance, Barbbtx. It's difficult to see how the economy could be more mismanaged unless it was deliberate. As well. he seems to be deliberately encouraging class warfare, apparently not recognizing the fact that he should be president to ALL Americans and not pit them against each other.

There must be a great deal of buyer's remorse by those who actually voted for this guy.

I absolutely think it's deliberate. Turn this country as far toward a socialistic state as possible before time runs out. Why do you think he pushed so hard for a healthcare bill that was so half-baked and incomplete?

Create as many co-dependent Americans as possible, so they'll be afraid to vote for anyone who demands they work and take care of themselves.
 
How the hell is that so?

That is by far actually dumber then suggesting he's a muslim from Kenya because that statement is so off the charts idiotic as it is untrue.

Class Warfare?

Just because he wants to raise taxes on people that are already rich... and not even by a massively substancial amount...

Yep Class Warfare at it's worse...

It is class warfare. One of the great ideas in this country is equal treatment under the law. A progressive income tax totally goes against this ideal.
 
They have low worth though it seems. I think the US needs to stick to technology, the tax cuts should be aimed at the biotech industry, America has always been the land of inovation and those jobs be readily available would serve to push better math and science education in this country.

Those waiters working in high-end restaurants make a pretty good salary. I guess their work is very valuable.

The US just needs to stick to whatever brings the greatest profit. Period.
 
It is class warfare. One of the great ideas in this country is equal treatment under the law. A progressive income tax totally goes against this ideal.

Of course, we should indeed have a flat tax across the board and do away with loopholes and shelters.
 
Listen, I was not advocating for the state raising of children. Please leave your conservative mantra aside and discuss issues and ideas, not simply negative cannotations for those who do not believe as you do. My reference was to that of education funding and the need to focus more on science and mathmatical training in a nation that is falling ever behind in the said areas.

We "fund our education" more than any country in the world. It doesn't do a damn bit of good if daddy's gone, and momma doesn't give a crap. There's more than enough money. Kids just aren't pushed to succeed in the vast majority of households in this country.
 
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We "fund our education" more than any country in the world. It doesn't do a damn bit of good if daddy's gone, and momma don't give a crap. There's more than enough money. Kids just aren't pushed to succeed in the vast majority of households in this country.

With this I agree 100%, but money that is already available needs to be moved more into those areas. It does a child no good to have an active parent to help with their chemistry and biology homework if the parent went to business school and has no idea what endonucleases are.
 
We "fund our education" more than any country in the world. It doesn't do a damn bit of good if daddy's gone, and momma doesn't give a crap. There's more than enough money. Kids just aren't pushed to succeed in the vast majority of households in this country.


truer words were never spoken. As a former educator, I have seen this first hand
 
Class warfare at it's ugliest. More proof Obama isn't interested in getting the economy turned around. Why does he hate small business owners?

how utterly silly and ignorant can a person be. your comment is ridiculous. lol.....obama doesn't want to turn the economy around. yeah, he loves that his popularity is declining, and he just hates america so much that he doesn't want to see us recover.
 
More job killing from the Obama administration. {{sigh}}

Taxing the rich is taxing capital. That hurts more than the rich, it hurts the middle-class. The wealthy create jobs, spend money on cars, vacations, restaurants, travel,etc. that benefits everyone.

Why do liberals hate the middle class?
Conservatives want everyone to prosper and that means leaving more money in the hands of everyone, including the wealthy.

another silly post.
 
Of course, we should indeed have a flat tax across the board and do away with loopholes and shelters.

Was that sarcastic or serious?
 
another silly post.

It's not silly. When you tax more, you can save and invest less, which means less capital available to furnish jobs.
 
It's not silly. When you tax more, you can save and invest less, which means less capital available to furnish jobs.

So if people pay a higher tax they will totally stop investing and the market will shut down?
 
So if people pay a higher tax they will totally stop investing and the market will shut down?

I didn't say stop, don't be hyperbolic. I said less capital.
 
So if people pay a higher tax they will totally stop investing and the market will shut down?

where did he say that? he said there would be less available. which is absolutely correct. if the govt takes more money from you, you will have less to invest, spend, save, whatever. it ain't rocket science.


though I do agree with the flat tax. no loop holes for ANYONE.
 
I didn't say stop, don't be hyperbolic. I said less capital.

Your right, I was being a bit extreme, but regardless at some point the government has to increase taxes to cover the budget deficit accrued through both the Bush and current administration.
 
Your right, I was being a bit extreme, but regardless at some point the government has to increase taxes to cover the budget deficit accrued through both the Bush and current administration.

Start spending less and then we'll talk about higher taxes for paying down the deficit.
 
Start spending less and then we'll talk about higher taxes for paying down the deficit.

Spending indeed needs to be cut, but short of totally bringing all through troops home and allowing unemployment benefits to end there is no way to reduce spending significantly.
 
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