Eventually, the tax code will have to be changed so that there is a way to distinguish between businesses and individuals. That would be the only way to tax the rich without killing businesses.
If you’re self-empyed, it doesn’t matter; your business income is your personal income.
Taxing the rich kills business either way. If I make a million a year but have to pay an extra $100,000 in income taxes under Obama I don’t eat out as much. I don’t buy a new car, or a new boat, or build a vacation home. I consume less, because my income is lower; that overall consumption loss is spread out over the businesses that I support.
Liberals are idiots.. they never learn.
Excuse me? Those of us who own our own businesses pay BOTH individual AND business taxes already, thank you. Which is why after 50 years of busting my ass, I retired...I got tired of working 6 months out of the year to pay my taxes just so others could sit on their fat asses and draw welfare! And with HALF the population dependent on the government for their livelihood, it's time for the non-working half to get off their ass and GO GET A JOB!
Dude, businesses are made up of individuals. Here’s something I learned in my 3rd week of Accounting 320 (Cost Accounting) at SDSU way back when...
A “business” views taxes as just another cost. The object of a business is to have revenues greater than cost (this is called “profit”) and in amounts needed to justify starting the business in the first place (Economics 120). Revenues are obtained from customers that purchase goods and services provided by “the business”. If one cost, such as taxes, goes up revenues must go up to continue operating profitably. Since selling more goods and services increases other costs that is not the answer, even if you can conjure up more customers. No, buddy, the simplest way to produce more revenue to cover the increased cost of higher “business tax” is to charge higher prices to our customers. Same principal as seen with the airlines last year when their fuel prices tripled; YOUR ticket price increased.
The “business” never, ever pays taxes, FRiend. It simply collects them for Uncle Sugar.