# taxes vs president **URL:** https://forums.speedlife.net/t/taxes-vs-president/199833 **Category:** PittSpeed Off Topic **Created:** [September 26, 2008, 1:31pm UTC](https://forums.speedlife.net/t/taxes-vs-president/199833 "2008-09-26T13:31:16Z") **Posts on this page:** 1 **Showing post:** 23
### Author: ![kilmer420](https://avatars.discourse-cdn.com/v4/letter/k/d6d6ee/32.png) [@kilmer420](https://forums.speedlife.net/u/kilmer420) #### Post date: [October 15, 2008, 11:06am UTC](https://forums.speedlife.net/t/taxes-vs-president/199833/23 "2008-10-15T11:06:57Z")
> [@pls pray for foxinox](https://forums.speedlife.net/t/pls-pray-for-foxinox/38366/14): > > what does that even mean? mccain is claiming to not raise taxes… obama just wants to penalize the rich… so, if you were making 500k, you would either still be hit with the same tax or more… so which is better? > > it’s a dumb argument… income tax is about 2% of a reason to vote for a candidate, but i know this was just your attempt to be satirically humorous. what is sad is that obama wants to use this extra tax on the ‘rich’ to hand it out to the poor, rather than to try to subside government spending… it wont fix anything, just gives people false hope and incentive to vote for him. how is 101 million Ammuricans the poor? You keep stating the same thing, he is giving tax brakes to 101 million people, not just the poverty line! > [@E36 and E46 drivers: cost of ownership?](https://forums.speedlife.net/t/e36-and-e46-drivers-cost-of-ownership/38344/10): > > I’m sure you have seen this before but in case you haven’t and are a small business owner, work for a small business owner or support a small business owner here are some important facts ([Wanted: Sub-Award Spending Information and Disclosure Deliquents - Americans for Tax Reform](http://www.atr.org/content/html/2008/oct/101508pr-sbtop5.html)) > > Record Tax Hike on Small Businesses Will Kill Last Job-Creating Sector > Five Things You Might Not Know About Obama’s Small Business Tax Hikes > > 1. Two-thirds of small business profits are earned in households making more than $250,000 per year—the very households Obama is shouting from the rooftops that he will raise taxes on (Source: IRS Statistics of Income Bulletin\*). Small business profits are used to create jobs and invest in America. This is the answer to the Obama campaign’s irrelevant claim that the number of small businesses affected will be small—the fact is that the bulk of profits will face a tax hike. > 2. Small businesses pay income taxes at the household level. This means that the Obama plan to raise tax rates is a direct tax hike on small businesses—sole proprietorships, partnerships, S-corporations, and family farms > 3. The tax rate on the lion’s share of small business income could reach 54.9 percent under a President Obama (the individual top rate will climb from 35 percent to 39.6 percent and the Social Security/Medicare tax rate could climb from 2.9 percent to 15.3 percent. Put those together, and you get 54.9 percent) (Source: [www.barackobama.com](http://www.barackobama.com)) > 4. This 54.9 percent tax rate would be the highest since the Carter Administration, when America suffered through double-digit inflation and unemployment (Source: Congressional Budget Office) > 5. America’s 26 million small businesses employers give a paycheck to 116 million employees (Source: Census Bureau). When small business taxes go up, millions of these employees will be at risk of being laid off. > > “Obama’s tax increases will only affect you if you have a 401(k), have any savings, buy things from small businesses or are looking for a job,” said Grover Norquist, president of Americans for Tax Reform. “If you fall into one of these categories, his policies will screw you. Otherwise, you’re fine.” > > I’m not a big fan of McCain but do own a small business. I’d rather pay my employees instead of laying them off and having our hard earned money redirected ANYWHERE, especially to tax rebates for those who pay little or no tax. > > Another important point to consider. Are you a hunter, gun owner or shooting sports enthusiast? If so Google “Joyce Foundation and Obama”. Obama claims to “support gun owners”. Yet from 1998-2001 he served as a director of the Joyce foundation (and received $70,000 in compensation) which funded legal scholarship advancing the theory that the Second Amendment does not protect individual gun owners’ rights. The foundation Since 2003, the Joyce Foundation has paid grants totaling over $12 million to gun control organizations and calls for an outright ban on handguns, semi-automatic and other firearms, and substantial restrictions on gun owners. Mike\_I appreciate that you run your own business, but don’t leave out certain facts and concentrate and well organized counterarguments. Beside payroll what is the biggest expense on a small business? Of course, healthcare (if the business can even provide one and in my opinion that is something that all people in this great country should be able to receive). You can check out his health tax credit here: [http://www.barackobama.com/pdf/SmallBusinessFINAL.pdf](http://www.barackobama.com/pdf/SmallBusinessFINAL.pdf) He wants to help the small business community. Aren’t small business finances separate from personal income even if you are the owner of the business? If so, then the Obama campaign is providing 0 Capital Gains Tax for small business. You can read it yourself on his site: [http://www.barackobama.com/pdf/SmallBusinessFINAL.pdf](http://www.barackobama.com/pdf/SmallBusinessFINAL.pdf) How is this a bad thing for small business? Gun control, is like less then 2% of what people should vote on. It’s sad that this race is going to come down to well, RACE! Now on to Mr. McCain: [http://www.johnmccain.com/Issues/JobsforAmerica/smallbusiness.htm](http://www.johnmccain.com/Issues/JobsforAmerica/smallbusiness.htm) So, his first issue is Energy. If you read, specifically he is talking about: “He strongly supports increased domestic exploration of oil and natural gas.” Then he continues with “The Project will transform electricity generation. John McCain has set the goal of building 45 new nuclear power plants by 2030 - creating 700,000 jobs and providing cheap electricity” HOW IS THIS HELPING YOUR SMALL BUSINESS? WHY IS IT HIS #1 TOPIC when talking about Small Business??? Check out his own site. He tells you what his healthcare plan for small business is all about. So, he would tax employer sponsored health insurance and create new tax credits of $5000 for a family and $2500 for an individual–for people who buy their own insurance. This means that workers would have to pay taxes on the value of health benefits they received from employers. This is explicitly an attempt to kill the existing system of employer-provided care by dramatically increasing taxes on workers. You as a small business owner can tell me if that sounds legit or not. I know it doesn’t affect you personally, but when this person gets taxed heavily for it, are they going to ask you for a raise? Then next on his agenda is to keep capital gains tax to 15%. How is this going to help your small business vs. the alternative? Furthermore, he goes on to talk about how he wants to Cut Corporate taxes, what does that have to do with a Small Business? Allow first year Deduction. You can already deduct equipment. How has this changed? When the commercials state more of the same, they aren’t lying to you. That’s what it is, more of the same. Where has this lead us today??? --- _[View the full topic](https://forums.speedlife.net/t/taxes-vs-president/199833)._