The "suprize" is many- MOST communities have not yet, or are now just starting to re-assess property taxes, and these drastic increases in value are going to double and triple peoples property tax bills, not to mention school taxes which are includedand are based on property values.
People who are now barely paying the bills and property taxes are going to be in for a big suprise over the next year or so.
For a lot of people, having to cough up 5-10,000 more at what ever time of year their municipality issues property tax bills will be beyond their means.
The stupid Sarbanes Oxley legislation has been bad too. In 2007 not one IPO was made. Not one!
We are killing the goose that lays the golden egg.
It annoys me when people say that after all the fuss, Clinton was not so bad. Well as bad as Clinton was and he was bad, he did not hate America. That alone should show that people are in a lot worse situation with Obama.
There is something that is consitently missing in response to OBama’s plan to tax (punish) companies that send jobs “over seas.”
1)Companies don’t pay taxes. Taxes become a cost of doing business and raise the price of products and services. The tax burden trickles down to the consumer. WE pay the taxes.
2) The reason businesses relocate over seas is not primarily because of cheap labor. The market all companies want to compete it is the US. There is a lot of costs that are necessary to ship parts for assembly and ship products back to the US. The US is unfriendly to businesses in the TAX BURDEN department. TAXES create huge liabilities and require vast amounts of overhead in accounting and legal departments to legally follow the rules. The liability is significantly less overseas.
Raising taxes on big business drives up incentives to relocate overseas. But I don’t hear anyone making this case in the campaign.
There is something that is consitently missing in response to OBama’s plan to tax (punish) companies that send jobs “over seas.”
1)Companies don’t pay taxes. Taxes become a cost of doing business and raise the price of products and services. The tax burden trickles down to the consumer. WE pay the taxes.
2) The reason businesses relocate over seas is not primarily because of cheap labor. The market all companies want to compete it is the US. There is a lot of costs that are necessary to ship parts for assembly and ship products back to the US. The US is unfriendly to businesses in the TAX BURDEN department. TAXES create huge liabilities and require vast amounts of overhead in accounting and legal departments to legally follow the rules. The liability is significantly less overseas.
Raising taxes on big business drives up incentives to relocate overseas. But I don’t hear anyone making this case in the campaign.
We are no longer the low-tax beacon of the major industrialized world. Numerous countries in Western Europe, Eastern Europe, Asia and elsewhere now have lower capital gains taxes than the U.S. The same goes for top marginal income tax rates, where Albania is at 10%, Estonia 13% and Russia 17%, just to mention a few. Here in the U.S., the current top rate is 36% for Federal, and if you live in NYC or California, you probably pay very close to 50% all-in. Our 15% long-term capital gains tax can't compete with the 0% rates in many other countries, but don't forget that many capital gains taxes aren't long-term, at which point you will pay 36% or higher.
The effect of the current high-tax policies is becoming an increasing disaster. There has been no employment growth in places such as Silicon Valley in the last decade, because U.S. companies are choosing to locate more employees in lower-tax areas such as China, India and Eastern Europe. Have you noticed the lack of IPOs in the U.S. this year?
Obama doesn’t have a clue about economic development. Remember, he accomplished zilch as a community agitator other than advancing his own career. If the loons control all 3 branches, we’re screwed.
Obama doesn’t have a clue about economic development. Remember, he accomplished zilch as a community agitator other than advancing his own career. If the loons control all 3 branches, we’re screwed.
The government is trying to get things moving with billions in buyouts and rescue money but few have confidence that the government will make the right choices on where to use those billions.
The current situation on Wall St. reflects the extreme uncertainty in the economy. People are looking for a safe place to put their money and not finding it. If the US makes the wrong moves now we could see a drain of capital from our country that would dwarf the billions flowing to the oil producing countries when it was $140/bbl.
If investors see the US as being an uncertain and unfriendly place to invest we won't see a recovery anytime soon.
Spot on.
This makes much too much sense (and cents and dollars for that matter) to be implemented.