Obama: Top Tax Rate Should Be 28% for Corporations, 40% for Small Business

Weekly Standard ^

[Sub-Driver]

So says King George III...........

[Red Badger]

Define ‘small’.............

[Mamzelle]

??? What is this really about? Is he setting us up for something, trying to get himself on record for something? He’s making a move I don’t understand.

[MrB]

A few large corporations are easier to control in a fascist state than a bunch of small businesses.

[stephenjohnbanker]

Obama takes his weekly stab at destroying the middle class : )

[Resolute Conservative]

Basically a mirror of his America, stick it to the small business (us) while rewarding his corporate cronies (think feds). Business as usual. Hey asshat (NObama) why not 25% across the board and no loopholes, breaks, or incentives.

[Errant]

Which is exactly why many small business owners have/or going Galt.

[cincinnati65]

"... He’s making a move I don’t understand."

Lowering the tax rate, but eliminating the deductions the companies can take against income, so they will be forced to report higher net income, taxed at the lower rate. Ultimately, it means more corporate taxes flowing into government, and fewer jobs and higher prices here.

[Lazamataz]

This totally fits in the corporatist government model we are now in.

[stars & stripes forever]

Small businesses account for growth and employment, He is attempting to hammer the fatal nail into the US economy.

[Mamzelle]

It might also look like increased profits, better economy?

[massgopguy]

Abject stupidity is our greatest enemy.

[txhurl]

Is he trying to lower taxes? Can’t really tell. Cuz if he IS, something big is about to break or further explode.

[cincinnati65]

Yep.....think of it this way. “I’m lowering the maximum personal federal income tax rate to 25% — but I’m taking away the mortgage interest deduction.”

[Alex Murphy]

Define ‘small’.............

Anything without union employees.

[forgotten man]

OK, so all small bidnesses should incorporate and pay tax at the lower tax rate. 0bama is an economic illiterate and has no clue about the rule of unintended consequences.

[ilgipper]

How about taxing the top bracket AND corporations at the same level. Simplify. Our side has a chance to win support on ‘main street’, with that proposal.

[Common Sense 101]

Obama: Top Tax Rate Should Be 28% for Corporations, 40% for Small Business

... and 100% for idiots and libtards (redundant, I know).

[BenLurkin]

[justlurking]

As the article points out, a lot of small businesses are taxed at the individual rate. The profits from my small business are carried over to our personal income tax return, where it is taxed at our highest marginal rate.

Fortunately, we have been able to reduce our taxable income with the maximum 401(k) and HSA contributions. In the short term, it reduces our take-home pay today, but increases our retirement income in the future.