Obama's Tax Plan Hurts Small Business, it Hurts You

Notoriously Conservative ^ | 10/24/08 | Notoriously Conservative

[Notoriously Conservative]

A message to all of those people out there that work for a small business, and plan on voting for Obama. It sounds like a great thing, taking from those who make more money than you and I, and redistributing it to those who don’t make as much. Awesome, free money!

But let’s look at this a little deeper. What happens when our employers are taxed more money? They will make cuts to cover the costs of higher taxes. What cuts will save the most money for your employer? Switching to a cheaper brand of pens and pencils? No. Installing energy efficient light bulbs? No. What will save them the most money will be cutting jobs, and putting a freeze on new hires.

Increased taxes on small business, and large businesses as well, means people, potentially you and I, will lose their job. That free money doesn’t sound so sweet anymore does it? A stimulus check for $1000 or a job that pays $30-$60k a year? You decide. We can’t afford Obama.

So when you hear Obama say, “95% of you will not have tax increases,” remember, higher taxes on the rich means those who make less feel that increase as well.

[NJJ]

Two Questions:
1) If they raise taxes on only the top 5% of earners, how much will they have to increase their salaries, bonuses or performance fees to make up for it?
2) How much will business operations pools, for jobs or merit increases, be reduced to cover those increases?

This is why there is such a large disparity in incomes between corporate, entertainment and sports stars and regular people, after all these years of taxing the rich.