Anybody else wondering how a paltry tax cut is going to help them get ahead?
I work 70 hours a week. I am not complaining I love my jobs. But I could use a substantial pay raise instead of a small tax cut. How about we cut business taxes, maybe even eliminate them and substantially increase the minimum wage?
I don't get it. What does the wealthy have to do with this. Because all the profits go the the businesses go to them??
I think not. They go to shareholders who then have to pay taxes on the profits again.
I did complain when Bush handed out the crumbs. I even donated my share.
- Anonymous1 decade agoFavorite Answer
Obama is going to raise business taxes by a minimum of 4% this year. People on the left say no big deal, but four percent is the average amount of money used for employee raises and is the annual average percentage of employee raise, so we get a lovely $1000.00 dollar a year tax cut, but because all of our companies profits are being taxed. and capital being moved out of the company an into the federal government, we will likely not be receiving a raise this year.
Thanks Barack, I'd rather have a merit raise that would normally be upwards of $5000.00 than a tax cut that amounts to $3.00 dollars a day. Not to mention no one is talking about the fact that in 2010 the Bush tax cuts lapse, everyone thinks the Bush tax cuts were for the wealthy, the Bush tax cuts were up and down the board. When they lapse the average American making 50K will pay an extra $1,700.00
75K paya an extra $3200. If you want proof Take your 2007 tax guide and look at the tax rates for your income level. Now get the 2001 tax guide at www.irs.gov and you can pull up the pre-bush tax rates. 2001 is Barack Obama's benchmark.People making 25K are going to pay an extra $750.00 dollars after it lapses and Obama said it will, but he fooled everybody that doesn't pay attention pay claiming that it is a tax cut for the wealthy, it was a tax cut from the top to the bottom and now we are all going to have to pony up to feed FEDZILLA.
Not to mention he wants to raise the tax on capital gains. What do people think that is going to do to the Stock Market when people have to pay triple the tax for money earned in stocks? It'll kill the market...And seize 401(k) to federally back scared consumers?....Take all the mutual fund 401(K) capital out of the market and put it into FEDZILLA and what do you think will happen to the economy? Here's a hint...It won't be good.
People need to notice that Baracks backers are now showing their faces. ZEROX, TIME WARNER, GOOGLE, are all gaining seats on the Government. What a coincidence. If the economy fails it gives the Government a reason to intervene and take equity shares in businesses, This is point at where these socialist ties, beliefs, and ideology are going to cause problems, because when Government takes portions of the free markets under thier control we aren't slipping into socialist ideology we are rapidly moving towards communism.
- MozoLv 61 decade ago
No one seemed to complain when Bush scattered a few crumbs to the masses, and increased the national debt in the process. A lot of us are now in foreclosure because of his insane politico/economic, practices.
- Anonymous1 decade ago
By that token, you would have to say the same thing about giving tax breaks to the wealthy.
But if you don't want an extra $1800 in your pocket, you can give it to me.