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

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    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.


    Quote Originally Posted by CalGun View Post
    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.
    Quote Originally Posted by lpast View Post
    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

    Quote Originally Posted by specklebang View Post
    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.
    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

    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.

    Quote Originally Posted by specklebang View Post
    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

    Quote Originally Posted by CalGun View Post
    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.
    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

    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.


    Quote Originally Posted by LiberalAvenger View Post
    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.



    Quote Originally Posted by CalGun View Post
    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.


    Quote Originally Posted by LiberalAvenger View Post
    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

    Quote Originally Posted by Mycroft View Post
    Awww...

    Did some corporation treat you badly? You poor boy.
    No not really any corporation "treated me badly"..


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

    Quote Originally Posted by TheDemSocialist View Post
    No not really any corporation "treated me badly"..
    Okay. I was wondering after reading: "while the rest of us get the boot and have to pay for it".
    TANSTAAFL

    “An armed society is a polite society.”
    ― Robert A. Heinlein, Beyond This Horizon

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

    Quote Originally Posted by Mycroft View Post
    Okay. I was wondering after reading: "while the rest of us get the boot and have to pay for it".
    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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