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More Spin: Now Obama Says That He Will Give A Capital Gains Tax Cut To Small Business Owners
10/1/2008 | Laissez-Faire Capitalist

Posted on 10/01/2008 3:43:24 PM PDT by Laissez-faire capitalist

First Barack Obama said that he would give tax cuts to 95% of Americans and would raise taxes on those making over $250,000 per year.

When this was exposed as being mere political fluff and void of any real substance (since 40%+ of Americans don't pay any federal income tax), Obama rolled out the usual spin and said that he would give a tax cut to 95% of Americans who pay federal income taxes. But he continued to say that he would raise taxes on those who make more than $250,000 per year.

When it was exposed through various media outlets that over 2/3 of small business owners make more than $250,000 per year, and these small business owners employ the majority of Americans, Obama shifted his rhetoric - again - to saying that he would cut Capital Gains taxes for small business owners. On MSNBC today - during a televised rally - Obama said that he was going to cut Capital Gains taxes for small business owners.

Problem is, is that under an Obama Administration, when small business owners who make more than $250,000 per year file their taxes, they would still not have a cut in their federal income taxes.

Obama's tax plan continues to show that Obama would cause legions of small-business owners to have to lay off and/or fire millions of Americans. Simple as that.

Tax the rich?

No, tax the small businesses of America.

Obama: Idiot.


TOPICS: Government; Miscellaneous; Politics; Society
KEYWORDS: 2008; barackobama; capitalgains; elections; electiopresident; nobama08; obama; obamatruthfile; taxes

1 posted on 10/01/2008 3:43:24 PM PDT by Laissez-faire capitalist
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To: Laissez-faire capitalist

An example of change you can change.


2 posted on 10/01/2008 3:45:13 PM PDT by Oldeconomybuyer (The democRATS are near the tipping point.)
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To: All

First it was 95% of Americans will get a tax cut...

Then it was 95% OF THOSE PAYING TAXES will get a tax cut...

And on and on it goes.

Barack Obama is spinning like a Maytag washer set on turbo rinse.


3 posted on 10/01/2008 3:46:09 PM PDT by Laissez-faire capitalist (Keep working! Welfare cases and their liberal enablers are counting on you!)
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To: Laissez-faire capitalist

Blah, Blah, Blah, Blah, Blah...he speaks words, just words!


4 posted on 10/01/2008 3:46:11 PM PDT by princess leah
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To: Laissez-faire capitalist

Rev.Wright was right when he said that Obama was just another politician who will say anything to get elected.


5 posted on 10/01/2008 3:47:01 PM PDT by Joiseydude (Let the Hero, born of woman, crush the serpent with his heel,)
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To: Oldeconomybuyer

Why is McCain not on this?
Why is he not on ANYTHING?
He actually looks like lately he might nod off at any time.
We need to wake him/the Republicans up.

Email McCain. Tell him he has an obligation as our candidate to get off his duff and fight back.
To h*ll with bipartisian BS, to h*ll with PC, to h*ll with ‘conducting a respectful campaign’!
Respectful campaigning went out the window with Obama’s nasty, ‘lipstick on a pig’ and ‘You can wrap AN OLD FISH in a piece of paper called change. It’s still going to stink after eight years.’ Take off the gloves, McCain!
Hit the Marxist/Muslim hard with Ayers, Acorn, Violation of Logan Act, Campaigning for Odinga!!
MCCAIN WEBSITE
http://www.johnmccain.com/Contact/

THE CONSERVATIVE ACTIVIST’S
GIANT E-MAIL LINKS PAGE!
http://www.conservativeusa.org/megalink.htm


6 posted on 10/01/2008 3:47:33 PM PDT by patriot08
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To: Laissez-faire capitalist

Where is the stat that 2/3 (or 66%) of all small business owners make over $250,000 personally? Wow that figure is a lot more than I thought. Heck I’m an MD and don’t pull in $250,000
I suppose if I didn’t expense anything I might come close, but I know my brother’s pest control business (four employees) is not putting over $250K in my little bro’s pocket


7 posted on 10/01/2008 3:47:39 PM PDT by GerardKempf (Let's Get Over This)
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To: Laissez-faire capitalist

My problem is that just about everybody is spinning.

I just heard that one small section of this new bill will eliminate the excise tax on arrow shafts less than 5/16ths (I think) of an inch. Now maybe there shouldn’t be such an excise tax, but what an example of how ridiculous this has become.


8 posted on 10/01/2008 3:49:21 PM PDT by gracesdad
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To: Laissez-faire capitalist

I have owned a small business for several years and I have never taken any long term capital gains in my business. Do small business owners typically take capital gains? I am an S-Corp and all of my earnings are subject to the personal income tax and FICA. Those are the only taxes I worry about.


9 posted on 10/01/2008 3:50:59 PM PDT by Inyokern
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To: Laissez-faire capitalist

McCain where are you? Fight these lies. FIGHT! FIGHT!! FIGHT!!! I beg of you, Senator. FIGHT THIS MAN!!!!!! Maybe it’s not too late!!!!!!!!!!!!! Get mad!!!!!! FIGHT!!!!!!!!!


10 posted on 10/01/2008 3:53:27 PM PDT by chippewaman
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To: Laissez-faire capitalist

I remember the so-called “luxury tax”, back in the 90’s on items like boats, aircraft, and expensive cars. Dems pushed it as a tax on the rich. The public ate it up; “yeah, get those rich bastards with their yachts”. The bill passed, the boat building industry collapsed with many then losing their jobs. The rich just didn’t bother to buy new boats, or bought a used boat.


11 posted on 10/01/2008 3:54:10 PM PDT by 6SJ7 (Welcome PUMAs!)
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To: patriot08

Here here; McCain needs to get his hands dirty and start throwing some mud, on 0bama....


12 posted on 10/01/2008 4:00:11 PM PDT by Born In America (Affirmative action is no way to elect a President, now or ever....)
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To: GerardKempf; DCPatriot
Your brother isn't doing it right then - he needs to can the Americans and hire illegals - most cities now encourage it and there are no taxes or pesky insurance to slow down progress for him. On top of that, he can continue to bill as if he has trained folks who might actually care about their customers! See, it is a win=win - and your brother will make out like a bandit.

There are even freepers who will back him up if he gets caught....they think it is a great system.

13 posted on 10/01/2008 4:01:25 PM PDT by WhyisaTexasgirlinPA (Obama prays to himself: "The prayer that I tell myself every night ...")
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To: Joiseydude
Rev.Wright was right when he said that Obama was just another politician who will say anything to get elected.

I would like to see a commercial with Rev Wright saying what you indicated at the beginning, followed by all his flip flops in his words.
14 posted on 10/01/2008 4:03:44 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: Inyokern
I have owned a small business for several years and I have never taken any long term capital gains in my business. Do small business owners typically take capital gains?

I'm with you. Where are my capital gains and, more importantly, where's my $250K+/year...?

15 posted on 10/01/2008 4:06:37 PM PDT by randog (What the...?!)
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To: Laissez-faire capitalist

As evidenced by the “renegotiation of NAFTA” snafu, what Barack says and what he actually believes aren’t necessarily aligned. Like most politicians, he says whatever seems expedient to garner the most votes from whatever particular audience he happens to be enthralling at that moment. Liars and damned liars. The whole lot of them.


16 posted on 10/01/2008 4:06:54 PM PDT by shezza (WWRD?)
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To: Laissez-faire capitalist

“Small...(under his breath)..minority...business owners”


17 posted on 10/01/2008 4:28:01 PM PDT by samadams2000 (Someone important make......The Call!)
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To: Inyokern
What the hell is he talking about? We are second generation family business owners, also S corp. Have made above 250k a couple of years, but not as a rule. How do you give a small business a capital gains tax cut? No such thing unless you sell it. How else is it possible?
18 posted on 10/01/2008 6:18:37 PM PDT by graywaiter (Gotta love those gun tote'n mommas.......)
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To: graywaiter
What the hell is he talking about?

I am glad to hear it is not just me. I don't know what the hell he is talking about either. What capital gains????

19 posted on 10/01/2008 6:29:04 PM PDT by Inyokern
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To: Inyokern
That's just it. I don't think he has a clue of what he's talking about. The only way I know of to receive a “capital gain” is to SELL an asset for more than what you (a) paid for it, (b) have in it or (c) inherited value. This applies to ANY asset, not just a small business. You have to SELL it to acquire an “capital gain” to need a tax cut. I guess we're all gonna be o.k. if we want to sell our businesses to get it! DUH!! This has got to be a misquote or pure b.s.
20 posted on 10/01/2008 6:41:50 PM PDT by graywaiter (Gotta love those gun tote'n mommas.......)
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To: graywaiter
I don't think he has a clue of what he's talking about.

More likely he is cynically proposing something that sounds good but will not actually lower anybody's taxes. Unfortunately, the reporters (and most of the public) do not realize how worthless this proposal is.

21 posted on 10/01/2008 6:59:58 PM PDT by Inyokern
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To: Inyokern
Yeah, but he's stupid to think he won't get outed on something this idiotic. I agree, most people wouldn't know a capital gain if it sat in their lap; only “evil rich people” get them, but there are enough competent people to bust him on this one.

sigh... the damage is done. Nonbusiness people won't have a clue. This is what will happen when/if they do bust him on it. He will say something about being misquoted or that he was actually speaking of raising the section 179 deduction. Which will only help if you're in the market for new vehicles or equipment....you have to SPEND money to get the “tax cut”.

22 posted on 10/01/2008 7:44:18 PM PDT by graywaiter (Gotta love those gun tote'n mommas.......)
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To: Inyokern
Yeah, but he's stupid to think he won't get outed on something this idiotic. I agree, most people wouldn't know a capital gain if it sat in their lap; only “evil rich people” get them, but there are enough competent people to bust him on this one.

sigh... the damage is done. Nonbusiness people won't have a clue. This is what will happen when/if they do bust him on it. He will say something about being misquoted or that he was actually speaking of raising the section 179 deduction. Which will only help if you're in the market for new vehicles or equipment....you have to SPEND money to get the “tax cut”.

23 posted on 10/01/2008 7:51:44 PM PDT by graywaiter (Gotta love those gun tote'n mommas.......)
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To: graywaiter

if you own a business its a good time to sell-if you are a doctor good time to retire-


24 posted on 10/01/2008 9:12:16 PM PDT by okokie (40 days of Prayer and fasting to end abortion Sept 24-Nov 2 http://www.40daysforlife.com/splash.cfm)
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To: Laissez-faire capitalist
It appears that Barack Obama will be in a hurry to drive America into an impossible budgetary load, in keeping with the Cloward-Piven Strategy of his inner circle.

_________________________________

Download Interview of James Simpson by Sandy Rios, Tuesday 9/30 - WYLL 1160AM, Chicago, IL
From http://www.culturecampaign.com/culturecorner.aspx

James Simpson is the former White House economist who has just published "Barack Obama & the Strategy of Manufactured Crisis" on AmericanThinker.com.

Simpson lays out the positioning of Barack Obama relative to the neo-Marxist plans of Saul Alinsky and Obama's implied relationship to the "Cloward-Piven Strategy" of generating national, financial crises, in order to turn the nation toward strict socialism.

25 posted on 10/01/2008 9:45:29 PM PDT by unspun (Tell the truth about Obama to all you know.)
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To: okokie
I hear you. I'd be tickled to sell it tomorrow, but I have 7 employees that need to keep working. My oldest son has shown an interest in taking over after college, and my DH would go bonkers if he had to retire. He'll work until he dies, because he can't sit still. I've even tried to get him to pursue something different that he loves, (pyrotechnics) but with the economy dragging, people will be cutting out things like fireworks displays.
26 posted on 10/02/2008 5:28:04 AM PDT by graywaiter (Gotta love those gun tote'n mommas.......)
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To: Inyokern
political doubletalk. he can't possibly give away everything he says he will. Just like Clinton, he will promise a lot, get into office, claim it's more screwed up than he ever knew and raise taxes on everyone that pays “because he has no choice”..
It's this nonsense that should steer people away from dear leader but instead, we have parents programming their kids, schools indoctrinating them into worshiping and deifying a mortal man, but they disallow the mention of the word God on public property. They will be singing songs and performing gymnastic feats in celebration on the blessed day of his birth.
27 posted on 10/02/2008 5:39:32 AM PDT by newnhdad (Naval Aviator or "community organizer", you make the call.)
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