Comments on: Obama Tax Hikes Will Kill Small Businesses, Jobs

By: cpa

cpa — Sun, 19 Oct 2008 11:24:13 +0000

Dennis – What you must remember is the distinction between nonemployers and employers. Nonemployers outnumber employers by about 3 to 1. Most nonemployers are part-time operations according the the US Small Business Administration.

In terms of economic impact, employer firms dominate; their total receipts are over 20 times the size of nonemployers’ receipts. In 2002, U.S. Census Bureau data counted 5.7 million
employers with $22 trillion in annual receipts and 17.6 million nonemployers with $770 billion in receipts. Although employers are a much smaller percentage of the U.S. Small Business Administration’s definition of small businesses they create the revenues and jobs that keep our economy going.

Obama is going to tax the small businesses that provide jobs for the middle class. What good does a tax cut do for you if you don’t have a job, other than a welfare check from Obama. I’d rather keep my job.

By: MusicMan

MusicMan — Fri, 17 Oct 2008 18:40:26 +0000

I y self am worried about Obama, he makes it in to office the taxes would nearly put my fathers music store out of business, it is hard as it is right now. but this would be the final nail in the coffen if he makes it.

anyways thanks for posting the truth.

By: hotoffthepress2

hotoffthepress2 — Fri, 17 Oct 2008 01:47:32 +0000

dennis -- At least be original with your comments, will ya? My answer to you appears in the comment section below this post.

By: dennis

dennis — Fri, 17 Oct 2008 01:35:31 +0000

Another posting where the truth is twisted.
The writer fails to note that assuming that 2/3rds of small business profits are made by households reporting over 250k in income, this is not the same as saying that 2/3rds of small businesses make that amount.

In reality, this needs to be corrected to report the percentage of small businesses that report income of 50k or less, 100k or less, and finally 250k or less. The bulk of the businesses will be in the lowest bracket, and up to 250k will take care of perhaps 90% or more of the total income.

Those over 250k will be exceedingly highly compensated ball players, doctors, attorneys, venture fund partners, Lehman Brothers partners, etc. We need shed few tears for them. None of these will be hiring any more with lower taxes.

This concept of lower income taxes prompting more employment is unmitigated nonsense. What prompts employment is a demand upon the employer for better or more service, more goods, etc. NO DEMAND = no employment.

get real