Why is it that neither Romney nor Obama during the debates seemed to realize that personal income taxes do not affect the ability to hire people. IF you have never had business, rental or farming income, then pull out your IRS Instruction booklet and look at Schedule C, E, and F. You will see that wages for work performed by people for your business or rental property are all deducted from your gross income before any taxes are calculated. Thus hiring people is deducted from your final income as a business expense. So the income you actually have to pay income taxes on have nothing to do with hiring people.
I can see that Obama would not know this, but Romney??? Oh, well, I guess if you are rich, someone else does the taxes and you remain ignorant of how it all works. And misinform the rest of us.
Can you show us where exactly the ‘tax on inomce is clarified”???
There is GROSS income.
There is ADJUSTED GROSS income.
Thjere is TAXABLE income.
I have yet to hear which ‘income’ Obama is referring to when he talks about taxes of any kind.