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View Full Version : Once again it happens



ramone
04-09-2012, 10:46 PM
Yes for the past YEARS I once again pay taxes on top of what I've already paid, want a list of taxes on taxes people pay. Every time you pay a bill you have paid taxes on money you have already paid taxes on. Multiply that by ten or twenty and you have your taxes for the year. I'm figuring when said and done with the taxes you already pay it is around 60 to 70 % . Good luck living on that 15 % you get to keep. Is there really any reason to employ anybody? It's more economically sound to work for somebody else.

Seems to be a problem with this theory, if we all work for somebody else. Who in the hell is going to pay the rest of us?

No rich people, NO FUCKING JOBS. Grow up liberals........you can't be this stupid, can you

wingrider
04-09-2012, 11:20 PM
yeah man I feel your pain.. I ran an Electrical contracting business for about 10 years, there toward the last just before I retired, by the time I got done paying all the taxes, lisences, insurance, bonds testing, updating , supplies, equipment salaries, unemployment taxes, social security on employees, and self employment tax, I barely had enough to pay pay my own cost of living bills.

ramone
04-14-2012, 07:26 AM
That self employment tax is a bitch unless you have a shitload of deductions. I've run into that before when hired out as a contractor, any 1099 m is considered self employed and you will pay out the ass for it. In the end I shut down shop and went to work for someone else. The money is just not there for the smaller business after overhead, and it isn't getting any better it seems.

I work for a diversified company now that has several different branches with specific applications and multiple investors. It seems to be running well, only problem I'm seeing is that the owner uses several smaller banks. While this is good for the local economy, it is not good for business. If a large check comes in there is a waiting period for it to clear, until then the money is in limbo. While the company is financially secure, there is money shifting that has to happen to keep things running. Same thing as a smaller company, just a larger scale.

Conley
04-14-2012, 09:17 AM
It's a shame because small businesses used to be the lifeblood of this country. Large businesses and their lobbyists are glad to see the competition falling by the wayside.

Chris
04-14-2012, 09:30 AM
Yeah, but I heard the VP, what's his name, say the "buff it law" will solve all these problems.

Conley
04-14-2012, 09:34 AM
Yeah, but I heard the VP, what's his name, say the "buff it law" will solve all these problems.

Wax on, wax off. :grin:

dadakarma
04-14-2012, 10:30 AM
Today, Blackwater is considered a small business.

Go figure

Their name is now Academi. It was Xe for a few minutes. I wonder why they keep changing the name? :roflmao:

Chris
04-14-2012, 11:06 AM
Today, Blackwater is considered a small business.

Go figure

Creative-destruction.

Peter1469
04-14-2012, 11:26 AM
Today, Blackwater is considered a small business.

Go figure

The Small Business Act defines small businesses for many different purposes. A business could be small for one purpose and not for another. If you used revenue as the basis I doubt that Blackwater would qualify. I would guess that most of their more elite operators were private contractors so they don't count as employees of Blackwater.

Peter1469
04-14-2012, 11:38 AM
That's correct. They use number of employees as the qualifying factor.

My point is that many like to refer to 'small business' in their claims about the state of the economy. It rarely refers to Mom and Pop anymore.

For some reasons revenue is used by the SBA to determine size status.

Chris
04-14-2012, 11:44 AM
"It rarely refers to Mom and Pop anymore."

Government's squeezing them out.

Case in point, Medicare coverage of durable medical goods. Our liberal government has created an industry for durable medical goods because it, through Medicare, will cover 80% of the cost. The industry consists of big players and mom and pops, not to mention the corruption of phony suppliers Medicare's paperwork misses to the tune of billions in loss every year. In short it costs the taxpayers a fortune. In typical fashion, liberals remedy this problem with another brilliant solution. What they have been phasing in major cities for a couple years now is bidding for regional suppliers and guess who can bid lower costs, only the big players, your mom and pop's can't pay to play such large enterprises, and unless they're willing to subcontract to the big players who will squeeze their profits, meager as they are already, they will be forced to close their businesses. Oh, gee, didn't foresee this consequence, oops, but I'm sure liberals will come up with another winning remedy for this problem!

MMC
04-14-2012, 12:30 PM
Question: So the reports that half the U.S. doesn't pay taxes are true?

Answer: No, they're not. According to the nonpartisan Tax Policy Center (http://content.usatoday.com/topics/topic/Tax+Policy+Center) in Washington, D.C., 46% of tax filers will owe no federal income tax this year. But when you figure in payroll taxes — such as those for Social Security, Medicare and unemployment — more than 80% of tax filers pay some kind of federal tax. And that doesn't include sales taxes, state taxes, local taxes, gas taxes, etc., which catch just about everyone.

Q: But almost half the filers don't pay federal income tax. How come?

A: It's because of the way the tax code is written. In 2010, a married couple filing jointly didn't have to pay any income taxes if their income was less than $18,700; couples older than 65, if their income was $20,900 or less. And even if you make more than that, the standard deduction — which goes up each year — and a myriad of other deductions and tax breaks reduce income tax exposure. In 2009, the most recent year for which Internal Revenue Service (http://content.usatoday.com/topics/topic/Organizations/Government+Bodies/Internal+Revenue+Service) data is available, filers with adjusted gross income of less than $30,000 made up 83% of all the nontaxable returns. According to the Tax Policy Center's calculator, a couple with two kids younger than 13 that makes $30,000 would get $5,000 back under current laws.

Q: Why the change?

A: Tax cuts and tax breaks. As Clint Stretch, tax policy expert at Deloitte, explains it, the tax cuts won by President George W. Bush in 2001 and 2003 not only reduced income tax rates, they doubled the child tax credit from $500 to $1,000; eliminated the marriage penalty by giving couples twice the standard single deduction (rather than a slightly smaller amount), increased the earned income tax credit, cut capital gains taxes and more. All of those items — as well as breaks like those for mortgage interest, charitable deductions and medical expenses — can mean a huge savings.
But it didn't stop there. President Barack Obama (http://content.usatoday.com/topics/topic/People/Politicians,+Government+Officials,+Strategists/Executive/Barack+Obama) added other breaks, too, like the Making Work Pay credit — worth $800 to a couple or $400 to an individual filer — as well as the American Opportunity Credit for college, worth up to $2,500 per student, usually more advantageous than the existing $4,000 deduction for tuition and fees. "Mathematically, you're not going to pay taxes" if you have a modest income and qualify for a lot of those breaks, Stretch said.....snip~


http://www.usatoday.com/money/economy/story/2011-10-06/income-tax-nonpayment/50676912/1

So much for those and about paying taxes. Still close to half 46%. Not counting the issue that all pay some sort of tax on something.