taxes vs president

this is all you need to know about what kinda president jimmy carter was

1981 - Iran releases 52 American hostages twenty minutes after Ronald Reagan is inaugurated as U.S. President.

a fuckin pussy he was.

i agree with the tax crap too, but this is something that I really really dislike about him, to the point that i would not vote for him at all.

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!

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 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 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

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???

Posting this here just to lighten the mood. How maverick of me.

Click

i don’t want to start with you… but that’s exactly my point… some people’s taxes aren’t others yearly bonuses… regardless of income. No ones income tax should be reprovisioned privately as a tax rebate. the amount of people is irrelevant… you should be taxed just like your neighbor and those taxes should feed social needs… and i mean that loosely, not social handouts. “Free money” doesn’t work and doesn’t make sense.

energy expenditures are a large part of a companies budget… think of companies that require machines running off power to complete a task, it’s 99% of the market out there, so Energy plays a large role… and during the last debate McCain made it pretty clear that he’s open for all power sources, not just new-clear.

workers pay tax on health coverage, vs. having pre-tax dollars being taken out on the companies dime… i don’t see the huge issue here? Healthcare is private. A person should make sure they are covered to the degree they want, this is different depending on lifestyle, a 26 year old single guy is going to have different needs from a 29 year old married with kids… its just won’t work to have a ‘blanket’ / ‘national’ plan… it’s proven in other countries with far less people to be a simple numbers game.

Gun Control is a right, read the bill of rights, naturally the copy before edited by Obama and his ‘scholars’ at the Joyce Foundation :wink:

how is race have anything to do here? actually i think you’re the first person to bring it up!

first year deduction and equipment write-off and depreciation are two largely different things. this is when a startup is licensed they have a year to write off, but if a business doesn’t take off or take a huge capital plunge in year one, they can’t take those steps of having a tax break on their new initial start up costs… I think they what they are suggesting is that they might allow this first year startup tax break to happen more often? dunno, total guess never heard anything about it until now.

capital gains tax helps small business when a private company goes public… Bush was the guy to lower these (both short and long term) and then signed into a reconciliation act that these short-term lower rates will stay through 2011.

more of the same what? his views and alliances are similar because McCain is a republican, but he differs on all subjects just like any other person running for office. Some thing need to change and inevitably will. what is the same?

why would someone who makes income not pay income tax?

ANYWAY… i thought that mccain taxed everyone and Obama gave tax breaks… or is it that mccain didn’t tax everyone and only obama taxed the rich??? or is it that obama taxes the rich and mccain taxes everyone?

i don’t get it ( about two weeks back obama was taxing me more, now i’m getting taxed the same???):

Start with me, what are we in some kind of fight? This is a discussion I thought…

What free money? What are you talking about, you just posted that the richer will get taxed more no matter what in this country. Well, based on that, what’s another 2-3%? Same thing. Still taxes. Where are these social hand outs? The only people not paying taxes are elderly making under 50K/yr, everybody else still pays taxes. Where are your facts? You usually like to bring facts into play, meanwhile you are just generalizing so far…

Energy expenditures aren’t all small business. Do they all have machines running everything? Yes, it plays into the budget of any business, but is it a #1 problem? Nucular or not, I am reading his site. Which is emperical data as you like to state.

It’s not a blanket national plan, you obviously haven’t read what Obama is proposing, let me get it for you since you won’t visit his site:

“The Obama-Biden plan will create a National Health Insurance Exchange to help individuals purchase new affordable health care options if they are
uninsured or want new health insurance. Through the Exchange, any American will have the opportunity to enroll in the new public plan or an approved private plan, and income-based sliding scale tax credits will be
AFFORDABLE, ACCESSIBLE COVERAGE OPTIONS FOR ALL provided for people and families who need it.”

YOU HAVE AN OPTION OF both PRIVATE and PUBLIC. So, you still have a choice. Who said it’s blanket? Who said anything about people having different needs, of course they will, that’s why he gives you choices!!!

Gun Control…good one, I guess that’s a Freudian slip. It might be a right, and passed by law, but originally it was intended for state militia. “A well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed.” That was the original intent. Regardless, that shouldn’t be the most important issue at hand with our current times!

Race has everything to do with everything. This is how this election is going to be won/lost. You know exactly what I am talking about.

Actually, the depreciation and first year deduction are very similar. Money spent to purchase business-related equipment must generally be recovered over a period of years, through depreciation or amortization. Instead, you can write off business equipment in one year, rather than depreciating it over several years.

Capital gains has a lot more in it, then just companies going public and you know it!

You just keep focusing on points that help better your argument, in the end there are pro’s and con’s to both sides of each story.

Finally, McCain Voted With Bush 95 Percent of the Time Last Year. According to Congressional Quarterly, John McCain voted in support of the president’s position on legislation considered in the Senate 95 percent of the time in 2007. In addition, McCain supported 4 out of 5 Bush budgets that were considered in the Senate, for a total of $9.8 trillion in government spending.

So, tell me is that the same or somehow you can find another nit picking difference?

P.S.

Regarding your tax quotes: How McCain and Obama will change your tax bill - Jun. 11, 2008

McCain: The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.

Obama: High-income taxpayers would pay more in taxes, while everyone else’s tax bill would be reduced. Those who benefit the most - in terms of reducing their taxes as a percentage of after-tax income - are in the lowest income groups.

Under both plans, all American taxpayers could pay a price for their tax cuts: a bigger deficit. The Tax Policy Center estimates that over 10 years, McCain’s tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama’s could add as much as $3.3 trillion

as far as Obama’s tax policy slowing small business growth, remember that money invested into the business and business expenses are not taxable income.

There is zero tax on money used to create jobs under both Obama and McCain.

Is there any info on what happens if you already have health insurance? And I wonder what an “approved private plan” encompasses. :dunno:

How about clear definition of “an approved private plan” and “people and families who need it”?

an all for one healthsystem is disasterous.

Under the plan, if you like your current health insurance, nothing changes, except your costs will go down by as much as $2,500 per year.

You can find more here: http://www.barackobama.com/issues/healthcare/

People and families who need it are people who don’t have it. The approved private plan has not been exactly clear so far. Why is it so disastrous?

i think i agree but your broken inglush hurts my amurican ears and you being different offends me somehow… so… i’m voting republican :blanyer:

Looking back to the big push to HMO’s and primary care physicians, a lot of people viewed it as freedom of choice being lost. And having to have things approved by your PCP led to problems. This is not first hand experience since I was in my twenties at the time and healthy. I’m just relaying the sentiments of several coworkers.

But I think it’s things like this that have people concerned - the potential for government oversight to complicate and delay things, and decrease the quality of the care/care providers.

Well I’ll be honest after listening to him last night… I will never agree with the following paraphrased statements:

“I won’t tax all businesses just those that can afford it

“I don’t want to increase taxes for 95% of americans, only those who can afford it

When is it the governments job to say when someone or some business can afford something? I think never.

also did you hear obamas quote from the other day… somethin about not wanting to limit successful people, but wanting to make sure there is enough success to go around??? or some total bullshit like that :rofl:

WRONG!!!
Val, you know I like you (besides what everyone else says about you :slight_smile: ) But I can’t give you a pass on these comments. I’m speaking from personal experience and not from presidential campaign propaganda.

The biggest expense in my businesses are TAXES!!! Don’t be fooled by the Democratic hype. I’m taxed andd taxed and taxed again as follows:
Federal income tax, PA state tax, local real estate tax, yearly corporate privilege tax, employers portion of employees tax, for myself employers portion of employees tax plus employees tax (since I am both the employer of myself and paid as an employee) medicare tax, employee privilege tax, sales tax (on anything I do not resell), fuel tax (you should see how much this actually is), cell phone tax, hazardous waste tax, when I fly to visit a potential customer I pay a 7.5% tax on the entire air fare plus a $3 per flight segment tax and a $2.50 per segment “security” tax, the outrageous fees I have to pay may tax preparer to pay may quarterly estimated taxes and prepare my year-end taxes. The there’s the inflated cost of all the products I purchase due to the seller being taxed which in fact is just a tax passed on to me (and you). I could go on but I think you get the idea.

On the personal side the same could be said for taxes. Look at your paycheck, fuel bill, phone bill, utility bill, grocery bill, car parts bill etc. and add up how much you pay in taxes each year and ask yourself what you get in return for all your hard work.

Again Val you’re wrong on this and speaking from presidential campaign propaganda and lack of personal experience (Obama’s second greatest weakness, his first being a socialist in a capitalistic society)

You can point me to all the websites you want but I have been filing tax returns for a long time and trust me, not all small businesses file a separate return. Additional forms, yes, separate returns, no.

Let me stress one thing here, as long as I can remember (and that time frame is decreasing with age) I have NEVER seen a Democratic (and too many Republicans these days) reduce a tax. With Obama being the most liberal, socialist leaning member of his party voting to the left of even the only Socialist Party member in congress (B. Sanders - Vermont) anybody who believes that hard work should be rewarded and that “if you don’t work you don’t eat” should be shaking in their boots!

One final note on this: From a practical point of view, with employers (small and large) already being taxed to death (especially here in Pa.) causing them to relocate to other cities, countries with corporate friendly tax rates. With the economy slowing and corporations being forced to reduce headcount and cut expenses every way possible what do you think will happen when you tax the shrinking profits that they are making now? Let me give you a hint - Temps, green cards, layoffs, China, India, illegal aliens

My point here was about Obama’s character (or lack of it). He’s is a bold faced liar about his stance on gun control. Why doesn’t he just come out and say how he feels and has acted on this issue in the past. I would respect him much more if he were truthful. I would disagree with him but at least I would be more likely to trust him. With his outright lies here and the fact that this really is a smaller issue in the overall scheme of things, I have to ask myself what else he is lying about or willing to lie about to get elected?

In my eyes you crossed the line with this comment and are drinking the Obamamania kool-aid here. The only person in this campaign to mention race is Obama with comments like “Oh, and did I mention he was black” when referring to faces on our dollar bills.

If it’s any comfort to you I wrote in Alan Keyes in 1996 and think that Condoleezza Rice would be a far better candidate for president than Obama or Biden.

In summary I think that it’s a sad time for our country when McCain and Obama are the only two feasible choices we have for the president of the greatest country in the world. Both parties have failed us by presenting either of these candidates.

Mike-I do like you and consider you as a friend so I hope I will not offend you any further. Having said that, my race remark isn’t presidential propaganda, or some far fetched dream. It isn’t directed toward you or anyone specifically. I do appreciate you being open minded and living in W. PA but we aren’t the general populous we are just 2 people with personal opinions. I do mean this seriously and we do live in W. PA where this is a real issue whether you like it or not, or don’t see it, or don’t want to believe it, that’s your personal choice. Unfortunately, I am not the only one who thinks and agrees with this, here is one example: http://marcambinder.theatlantic.com/archives/2008/10/pennsylvania_omen_for_obama_mu.php

Regarding your taxes. Yes, you are taxed. How you are taxed is based on your choice yet again. You only get taxed twice if you are a big corporation which you say you aren’t. You can file separately from personal income, I have a friend who did do this, so I do speak from personal experience. You are also able to write off a lot of things as business expenses to help set off your taxes. You are taxed not on gross revenue, but on NET profit as you know so all these tax issues that McCain keeps bringing up aren’t true and won’t effect you.

Furthermore, if you do file Schedule C, D, or F then you would get taxed, but that’s not all small business. McCain is using it in a much greater definition to help his campaign. He files schedule C because he has book royalties, is he a small business? I don’t want to get caught up in details for many reasons, because how you set up your personal business is your choice, it still will be your choice with Obama. Yes, he is proposing and increase for business’ that make over 250K /yr. That’s 2.4% of all small business’. What about the rest of the 98.6%? Those people will benefit from this, I presume you probably fall under this category.

BTW-I also pay a cell phone tax just like everyone else and the fuel tax etc…This isn’t a business only inclusion. Obama has nothing to with State Taxes.

Where you state about your final note on this from a practical stand point of view. You can’t say small or large, because as I just explained above the small business will not be affected by any of these taxes you speak of. Also, you mention layoffs/china etc…This is already happening and has been for 8yrs. How is J McCain going to address any of this? I am still not sure what his economic policy is all about and I’ve read it several times now. The man who famously admitted that economics is not his strong suit wants to fundamentally alter the government’s role in the economy by deeply cutting non-defense spending, from discretionary programs to entitlements. Get real!

What I will say is that both of them are big fat liars as you point to Obama only below. You are insinuating all the propaganda that has been turned on by right wing media. He told you specifically what Acorn and what Aires have meant to him and his life. if you choose not to believe him, that’s great, but he sat there and looked you straight in your face and told you what his relationship was. I don’t know how much more ‘straight talk’ you want from him. Nobody is talking about the Keating 5 right now, are they? What was that? Not lies? We can go on for days…

I am trying to find the lesser of the two evils and having another Republican (loose term with McCain) in office to expand government (when did the Rep party become a party of big Gov? Rhetorical question really) and spending even more then we have in the last 8 years isn’t something I want to sit around and applaud. I am sick of being the laughing stock of the world with the current administration.

Jeff-I agree there are things that need considered for this health plan that he is offering and I would like to hear more about it. I am hoping once elected, and the financial crisis is somewhat mitigated, that he will address this issue from a broad aspect as he is with his tax policies.

fshowcars-He blatantly stated that he doesn’t mind paying a little bit more (himself personally) for those that can afford it. Neither do I. As a great country that we are, we didn’t get here without some help. He wants to re-invest into the middle class, they are the big spenders. Go listen to Warren Buffet, he agrees with Obama. He doesn’t mind being taxed a little more.

he better… he’s the one that is proposing that the ‘rich’ pay more. Im sorry, but no one but me will say when i can and cannot afford something.

also, i don’t know about the small businesses that are under 250 only equaling 2%. look at the census… it seems that there are more:

http://www.census.gov/epcd/www/smallbus.html

Val, no offense taken in your previous post! This is just a political discussion, nothing more. The facts are that the president can do very little without congress’s support which is why I find it ironic that so many blame Bush for our current situation and actually overlook the “do nothing” congress currently in power as having a major part.

As for Obama’s relationship with Ayers and Acorn, I didn’t hear him renounce either of their actions. That’s all he had to do… and used the lame excuse that he was 8 years old… Obama was 40 years old when Ayers said he wished he and the “Weather Underground” would have bombed more “establishment” targets. Add to that the fact that his extremely racist pastor of 20+ years hates this country so much he preaches it from the pulpit i can’t help but say Obama is no friend of the USA and is saying anything to get elected.

I am not sure I understood you 100%, but the problem with the mortgage crisis is exactly this statement “I’m sorry, but no one but me will say when i can and cannot afford something.” Most of America is financially illiterate and cannot make the same type of decision that YOU personally can make. I say that because I know you, but do you know the rest of American that well, I don’t, and I see where this caused us to be. You keep blaming these people that bought stuff that couldn’t afford it, well, when we put something in place so this doesn’t happen and now have to deal with the financial burden, we are infringeing on your capitalistic rights? Pick one or the other, can’t keep jumping the fence on something like this…Do you want to privatize gains and socialize looses? This is socialism of the elite and what is happening now.

If you read again, I said that only 2% of American small business makes over 250/yr Regardless, the definition of small business is reasonably skewed, under 100 employees (I think it’s changed to 75, but I haven’t discussed this with my CPA lately) is what I understand…and when they talk about income it’s NET profit not gross value or revenues…you can look at a balance sheet until you are blue in the face, but at the end of the day a small business is not 5 guys like you, when you read the facts it like 490,XXX small business that make over 250K, and like 34million that aren’t…

http://www.sba.gov/services/contractingopportunities/sizestandardstopics/size/index.html

P.S. The census is outdated since it’s 2002 data…firms and a small business aren’t all the same thing, yes it’s people based, but not everyone who files Schedule C, F etc are actually a small business like my example of mccain getting royalties on his book and filing Schedule C…

I appreciate that you see it as a discussion and take no offense to it. That’s not my intention.

So, what about the 6 out of the 8 years of these unregulated policies that the Bush administration fostered. If Clinton was such a bad President, why was the economy flourishing under him and we ran SSI surplus and federal surplus? Why didn’t the Bush administration do enough to regulate these policies that you blame on the Democrats of the past.

If you want to start playing the blame game, look at Bill Graham (the de-regulator himself) and his connection to McCain. I will agree that McCain decided to fire the chief of the SEC (unfortunately, that’s not even under the Presidential power). Bush put people in place of these regulatory commissions and gov. agencies that were anti regulation. Bush deregulated the EPA/Credit Card Companies and there are many more examples. What about the deregulation of Oil Commodities Market the US has no oversight, and who started the investigation on that, yeah that same congress that you are currently blaming. Jobs baby jobs, not drill baby drill! And if you listen to McCain now, he is just regurgitating Hillary Clinton’s economic views. Listen at the debate, he essentially took her plan and made it his.

Now, regarding the Ayers and Acorn. He served on the same board. He denounced his actions of the past. Ayers teaches at the University of Chicago, they were colleagues. It’s not like Obama was having an Arsenio Hall show for Ayers. They weren’t hanging out together as the right wants you to believe. He looked you straight in the face and said exactly what his views and contacts were and are with both. If you don’t want to believe him, that’s fine, but that’s straight talk.

Let’s get on the plumber discussion, McCain’s strong point for the debate, or so he thought…

He wasn’t a “bad President,” although some would argue he’s a bad person, he did his job better than most in that office.

He also had a Republican congress for a significant period of time. Congress has the power of the purse. Congress controls spending. This was before Republicans became a bunch of back-stabbing, double-talking spenders, who aren’t really Republicans at all.

We need to stop looking at party affiliations and judging political candidates by their merits. As stated above, Obama loathes the 2nd Amendment, and unbridled prosperity. He wants to redistribute wealth. The Soviet Union called…that doesn’t work. McCain is a riddle wrapped in an anomoly, sprinkled with inconsistency, but he’s not a socialist, and he hasn’t worked to ban guns.

I refuse to vote for either of them, but Obama is the candidate more repugnant to the principles upon which this nation was founded and under which it once prospered.

So, what is the bailout called? What is SSI? That’s socialism…sugarcoat it how you like but in reality, these are the facts. You can look at it as a redistribution of wealth, but in the end the middle class is who made this country prosper, so investing in that is what he wants to do. We are in dire financial straights, and what is McCain’s plan? Continue to help the massive corporate structure that does not re-invest in America. They, just like me and you have a moral obligation to uphold here, and for them capitalism and greed is what’s most important, not you or me.

What job did Bush do? I actually don’t even care so not sure why I am asking. He didn’t do a good job, if he did, we wouldn’t have this disparity now. As the president he is suppose to serve the people which he hasn’t done!

BTW-the Soviet Union, had a lot more problems fiscally and structurally that are beyond just socialistic constructs, we can get into that discussion if you like, but I lived there during the socialist times and I was just there in December, so I can tell you plenty…