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CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contra

Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

My business was small. 15 employees at its peak. I did strive for a certain income level so that my tax rate didn't go up but the greater impacts were minimum wage, utility user taxes ( local ), and several other impositions for the public good at state and local level. My staff had to be reduced from 450 hours a week to 360 in one year. Ultimately 300 hours after a few years. The only time the income tax was an issue was when my business thrived and peaked. In 2003 I was able to add IRA contribution to 5 long time employees. That benefit was cut in 2008. It wouldn't have happened without the personal income tax savings I got from the bush tax cuts.


specklebang said:
I might agree with you if your argument was regarding regulations. Certainly our excessive bureaucracy costs millions of jobs. There are many products that aren't made in Americxa at all due to EPA, OSHA and similar agencies.

But I don't agree that personal income tax is a factor in so much as one job. Income taxes are paid on your net income. If your company nets 10 million a year, you'll want to make that 10 million or more rehardless of your tax rate. Until the tax rate becomes 100%, every dollar you earn puts more money in your personal pocket.

The reason for low wages and layoffs in recent years is unrelated to taxes which are at historic lows. It's because business is slower. We don't have any more temporary rich people because those houses that were worth a million in 2005 are now worth less than they were bought for. Also, the mu;lti-year shopping spree the housing bubble caused ius over - how many flat screens can you possibly need? Also, with high unemployment its easy to screw your employees, never give raises and double up workloads and SOME companies have taken advantage of this to squeeze out more profit - on which the don't mind giving up the taxes on.

Can you honestly say you let go of employees because you wanted to make less money so you could pay less tax? I doubt that.

((this is a respectful conversation and NOT any kind of personal attack))
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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Mr. Invisible said:
Tell me, where am I wrong?
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shrug...

I didn't say you were wrong. I just asked if you enjoy your class warfare?
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

specklebang said:
You have my support. I've had many employees, I paid them generously and shared the profits with them. Even then, I still made good money and paid plenty of taxes without loopholes and had no problem doing so. I'm always surprised that the rich are so strongly defended by the not-rich. Except for a few thousand super-selfish CEOs, I think most high income people are very philosophical about their tax burden. If you make a million, you still keep about $670K which is far more than you need to live on.

So, there are the "rich" and the "selfish rich". The latter makes more noise. That's one of the reasons I didn't vote for Romney despite my disappointment with Obama. He was focused on having hundreds of millions and paying as little tax as possible so I felt that he would use the Presidency to cut himself tax breaks that he didn't need.

I don't know any billionaires but I'll guess most of them are happy enough to pay the taxes and still be billionaires.
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I did the same speck, I paid my employees more than any competition around me...I rarely had employee issues and I had a waiting list to work for me..while others couldnt find anyone to work for them. I was always there for my employees as I should be..after all they were making me money while I slept, ate, watched TV and was at an amusement park with my kids....your damn right I treated them right....some small business owners believe they OWN their employees and they should only exist to enrich them at all costs...nonesense, thats the trouble with these pigs at the trough today...they want too damn much
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Yayyy i love corporate capitalism. Nothing so sweet as it is having the government help out the rich and corporations while the rest of us get the boot and have to pay for it. Muah! :cool:
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

TheDemSocialist said:
Yayyy i love corporate capitalism. Nothing so sweet as it is having the government help out the rich and corporations while the rest of us get the boot and have to pay for it. Muah! :cool:
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Awww...

Did some corporation treat you badly? You poor boy.
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

The single best tax deduction is the money you pay to your employees.

CalGun. You point out that you discontinued the benefit in 2008. Why? Taxes didn't go up (and still haven't) so it must have been another factor.


CalGun said:
My business was small. 15 employees at its peak. I did strive for a certain income level so that my tax rate didn't go up but the greater impacts were minimum wage, utility user taxes ( local ), and several other impositions for the public good at state and local level. My staff had to be reduced from 450 hours a week to 360 in one year. Ultimately 300 hours after a few years. The only time the income tax was an issue was when my business thrived and peaked. In 2003 I was able to add IRA contribution to 5 long time employees. That benefit was cut in 2008. It wouldn't have happened without the personal income tax savings I got from the bush tax cuts.
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lpast said:
I did the same speck, I paid my employees more than any competition around me...I rarely had employee issues and I had a waiting list to work for me..while others couldnt find anyone to work for them. I was always there for my employees as I should be..after all they were making me money while I slept, ate, watched TV and was at an amusement park with my kids....your damn right I treated them right....some small business owners believe they OWN their employees and they should only exist to enrich them at all costs...nonesense, thats the trouble with these pigs at the trough today...they want too damn much
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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

specklebang said:
The single best tax deduction is the money you pay to your employees.

CalGun. You point out that you discontinued the benefit in 2008. Why? Taxes didn't go up (and still haven't) so it must have been another factor.
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Sometimes I wonder if people are telling the truth. It's strange that he knows not much about taxes.
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

My local taxes were raised. My annual utility went from $33k to $45k mostly due to local utility user taxes and some state impacts on our utilities. Also it was 08 that business began to decline and was the first year of our new minimum wage that exceeded the national level - a perfect storm. We only survived 18 months longer. Then everyone lost their jobs - and me my lifes savings. Se la vie I haven't paid income taxes in almost 5 years.

specklebang said:
The single best tax deduction is the money you pay to your employees.

CalGun. You point out that you discontinued the benefit in 2008. Why? Taxes didn't go up (and still haven't) so it must have been another factor.
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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

CalGun said:
My local taxes were raised. My annual utility went from $33k to $45k mostly due to local utility user taxes and some state impacts on our utilities. Also it was 08 that business began to decline and was the first year of our new minimum wage that exceeded the national level - a perfect storm. We only survived 18 months longer. Then everyone lost their jobs - and me my lifes savings. Se la vie I haven't paid income taxes in almost 5 years.
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Why do you blame obama for your local and state taxes going up. Reagan is the one you should blame.
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Any tax increase that can impact an employer in this economy is stupid; obama's wet dream is to soak those who are making it and those are the very people who create jobs. Those who raised my local and state costs are on the same page with obama then and now. They act without consideration of the ramifications - like most liberals.


LiberalAvenger said:
Why do you blame obama for your local and state taxes going up. Reagan is the one you should blame.
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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

You have my true sympathy.

I certainly think we pay too many taxes and have to many expenses and too many regulations, fees etc. The original topic though is Federal Income Taxes which are based entirely on your net income. So, those FITs did not drive you out of business - I bet you wish you had made more so you would have paid more.

The OP deals with CEOs that make 10s of million of dollars are resent any taxation. Hardly comparable to use micro-business people. I think THEY can and should pay the additional 6.5% or whatever it is.



CalGun said:
My local taxes were raised. My annual utility went from $33k to $45k mostly due to local utility user taxes and some state impacts on our utilities. Also it was 08 that business began to decline and was the first year of our new minimum wage that exceeded the national level - a perfect storm. We only survived 18 months longer. Then everyone lost their jobs - and me my lifes savings. Se la vie I haven't paid income taxes in almost 5 years.
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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Many small businesses don't understand the different types of taxation. Maybe that's why so many on this board defend the multi-millionaires so ardently. They may have the impression that FIT is an additional burden and not realize that FIT is ONLY on your actual net income after all other taxes, expenses etc. In fact, there just doesn't seem to be any other explanation for the impassioned defense.

My position on taxes is not consistent with many of my other positions. I'm sure not an Obama fan. I do believe in fairness and adequate taxation as a part of maintaining our economic standards as well as great care in safety nets and other devices. The squandering is at least as important as the taxes.


LiberalAvenger said:
Sometimes I wonder if people are telling the truth. It's strange that he knows not much about taxes.
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Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Mycroft said:
Awww...

Did some corporation treat you badly? You poor boy.
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No not really any corporation "treated me badly"..
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

TheDemSocialist said:
No not really any corporation "treated me badly"..
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Okay. I was wondering after reading: "while the rest of us get the boot and have to pay for it".
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

Mycroft said:
Okay. I was wondering after reading: "while the rest of us get the boot and have to pay for it".
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Well look at it this way when we fail we get told "ohh itll be ok". What happens when corporations fails? "Ohh the CEO's get a large chunk of money, or they get told your too big to fail" while the rest of us get ****ed.
 
Re: CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Co

TheDemSocialist said:
Well look at it this way when we fail we get told "ohh itll be ok". What happens when corporations fails? "Ohh the CEO's get a large chunk of money, or they get told your too big to fail" while the rest of us get ****ed.
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Is that what they tell you when you fail? "ohh, it'll be ok"? I've never been told that.

I don't agree than any corporation is too big to fail. If they fail...they fail.

Anyway, it must suck for you to be so angry at corporations and CEO's. You probably live a life of frustration.
 
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