Posted on 07/14/2009 8:48:21 PM PDT by quesney
This is CRAZY!!
http://www.taxfoundation.org/publications/show/24863.html
Our global competitors are laughing their a**es off. How are we supposed to get small businesses to hire and lead us out of recession when they face a more than 50% tax on every last dollar they earn?
Tax Foundation updated its analysis since Bloomberg reported that surtax under consideration is now 5.4%!!!!
They tried this in Maryland. The wealthy packed their bagsand moved to Florida................funny thing about rich people.....they can go wherever they want.
I’m a business owner an looking at ways to reduce staff and get smaller. Need to start working on Lean management.
Slavery
I am so depressed...
.. I started a ‘quarter-way’ tongue-in-cheek revolutionary blog... http://unitedcitizen.blogspot.com
What’s NY City going to do after the fifty people left paying taxes decide to move out?
Meanwhile other countries give incentives to foreign investors.
Hahahahaha - liberals and socialists get the government they want. Now to figure out a way to keep them OUT of low tax Pennsylvania...!
I will not pay 50% tax. Ever. I’ll leave this country first. Never, ever thought I’d ever leave my country, but it’s looking like my country isn’t my country anymore. Don’t know who these people in power are or who voted them there. Certainly not MY people.
Yes income tax is raising to over 50% for the top earners and small businesses, but I don’t think that is counting the increase in payroll taxes, going from 15%-23%. Does it? Oh, and the increase in capital gains taxes to 24%.
“Yes income tax is raising to over 50% for the top earners and small businesses, but I don’t think that is counting the increase in payroll taxes, going from 15%-23%. Does it? Oh, and the increase in capital gains taxes to 24%.”
No, I don’t think it does include payroll. Just Medicare. Jeez*s.
Folks! Obama is changing the entire United States economic system.
He has no intention of trying to save the capitalist system that has been a staple of our nation for over 200 years.
He wants complete dependence on government.
(shrug)
Don’t forget the 9% jump in capital gains, too.
This is BS. Add in property tax, excise tax, sales tax, every other tax and most taxpayers in just about every state pay well over 50% now.
I wonder if we could help the economy by buying some of these???
LOL!
“This is BS. Add in property tax, excise tax, sales tax, every other tax and most taxpayers in just about every state pay well over 50% now.”
Yeah, true. The Tax Foundation makes clear it’s just a starting point. And don’t forget the payroll tax, which analyses like these treat as pension contributions, but we all know it’s as good as a tax — a payment to the government most Americans will never get back, much less see a return on.
Don’t leave, don’t pay! Revolt!
I see no difference between any of the taxes I pay. It is all just wasted money to me.
“I see no difference between any of the taxes I pay. It is all just wasted money to me.”
My point exactly. In any case, as someone else here said, forking over more than 50% of the results of your labor is slavery. At least slaves got room and board.
Here in California, they want to get rid of Prop. 13 which keeps property taxes in the state at least fairly reasonable. They also want to raise the other taxes through the roof (sales, income, business, vehicle license fees). In L.A. County we have a 9.75% sales tax, and they want to add a parcel tax to pay the school teachers more money!
This is absurd!
I will be looking at property in Costa Rica on my trip in the fall.
Yo. All y'all that think that Zero is just stupid... I've got a clue for you... This SOB is EVIL:
“I’m a business owner an looking at ways to reduce staff and get smaller. Need to start working on Lean management”
I don’t blame you. You have to survive. I sold my business over 2 years ago, as I knew the economy was overheated. That 787 billion could have gone to the following.
1) tax reductions and credits for small and medium sized businesses.
2) capital gains tax cut for small business and individuals.
3) Investment tax credits for equipment and the manufacturing sector.
If this had been done, we would be well into a recovery by now. But Obama wants to destroy the demand economy and replace it with a socialistic command one. He has to go, period!
LMAO!
Exactly. Taxation at these levels is immoral, as far as I am concerned. I don’t see what is so hard to understand about that. It is a sad commentary on the character of millions of Americans that they are perfectly comfortable with having other citizens’ wealth simply confiscated and transferred to them.
I said back during the election that the problem we have is that we have become a terribly covetous people.
My tagline says all that I want to say.
This is absolute insanity! If this passes, talk about a complete job killer. Businesses which currently are cutting back on hours or not hiring are going to be forced to take the next step...massive job cuts.
Don’t forget about Cap & Trade and no doubt they will be looking to raise even more taxes to try paying down the spiraling debt. Goodbye 9.5% unemployment, hello 12%, 15%, 20%...figures. If this passes, we’re going to look back at losing 500,000 jobs a month as being absolutely cheerful. All aboard the 2010 depression train!
All this plus the government dictating what health care you can and cannot receive - Remember what 0bama said at the Health Care town meeting, “Maybe that surgery isn’t the best thing, maybe taking that pain medication is a better solution”.
Sounds like Utopia.
Fixed it.
the problem is ... where the hell to go? they have taken over everything everywhere!
There is no where left to run to the communists have won, and now dominate the entire planet with their misery.
I often pose the question. What is the difference between high taxation and slavery? Slavery is the confiscation of the fruits of your labor. You have no choice in the matter, and failure to yield leads to severe punitive consequences. Taxation differs from this how?
My grandmother lives in Alameda in a house that costs between $600,000-$700,000. She pays about $85 a month thanks to Prop 13. If it gets repealed, it would jump to over $500 a month.
“...it’s looking like my country isn’t my country anymore. Don’t know who these people in power are or who voted them there. Certainly not MY people.”
I understand, and agree.
Top fed rate will be 47.9% (39.6% + 5.4% + 2.9%). California top income tax rate is 10.55% for a total of 58.45%. That’s not including sales tax and property tax.
And then on top of that they are going to phase exemptions.
Depression coming.
listen, brother - the shit’s gonna hit the fan here, and we need good Americans to fight to save our country & Constitution.
If you leave then you will rue from afar what’s happening to our country... and the Cubans who left that island in the 60’s, as do the modern day Venezuelans who left during/after Chavez, along with the rest of History’s expatriate communities, will make good drinking partners with you as they commiserate...
JG
Freepers, give me some ideas to avoid the taxman? I’m thinking of going to all cash anyways....screw the feds....I’m going John Galt.
0b0z0 and his anti America thugs have had these so called small business owners in their sights.
They will keep funding the Citibanks and other liberal run big businesses while serial killing the so called small business owners with more taxes, carbon credits and more paper work.
One of my younger relatives said that Rush discussed this targeting of small business owners this week. (I haven’t listened to Rush this week).
Good luck on finding a liveable country, not some third world dump, with a lower personal tax rate.
I’m not defending higher taxes. Friends and relatives who checked other countries often found 50% taxes as normal.
“Good luck on finding a liveable country, not some third world dump, with a lower personal tax rate...Friends and relatives who checked other countries often found 50% taxes as normal.”
What about these (first column)?:
http://www.heritage.org/index/ranking.aspx
By the time the VAT taxes and Social Security/Health Care taxes are added to the income taxe, these countries come up to about a 50% tax rate.
Now, add SS tax. What's left now, especially if you're self-employed, and pay both halves.
Don't forget Medicare/Medicaid. And that has no cap, unlike SS... which the Democrats want to remove that cap, anyway.
Throw in State income taxes, at least for over 40 states.
All this money comes out before you ever put that first nickel in your pocket.
So now, I guess we better spend some of that money. In most states - especially the states with no Income Tax (cough ** TEXAS ** cough) that probably runs about 8%... maybe even 10%. Sales tax is still tax - at tax on your income AFTER you break down and buy something.
So of the 40-45% of your base pay left AFTER INCOME TAX, you owe 10% of THAT amount for spending - on most items.
So why not "go Gault" and just buy nothing but food (and ammo) and save the rest? Congratulations: You're paying capital gains taxes on good stock trades, and paying incoming tax on the minuscule interest you make from CD's and passbook savings.
Go buy a car battery or tire - look at how many "fees" are included. Thank Heaven they don't tax that purchase also. Look at your cell phone bill, and/or your land line phone bill. How many dollars of "fees" (not taxes) are included. FCC access fees, Rural fee this, urban fee that, blah, blah, blah.
Had enough?
Folks, GOD ALMIGHTY never asked for more than 10%. Who do these mere mortals think they are, asking for 50% up to 80% of your gross pay in taxes?
>This is CRAZY!! <
this is Obamacare
Everyone keeps acting amazed and stunned over governments drive to control, tax and regulate everything they do..
Why do so many appear to be shocked and stunned when this has all been coming, long before Obama ever took office?
Start with the staff members that voted for Obama. And be sure to remind them why they lost their jobs.
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