To all of you whose unconditionally committed to Obama

Originally Posted by Face82

I really don't care about alll that #+%. It is what it is. He can't do worse than bush did. I only gave a damn about him being the 1st Black president real talk.
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Man , dude needs to stop complaining . He's ALREADY getting taxed , but OP its Obamas fault ?
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I'm not even sure YOU read the text . So basicallythat's like I'm getting beat up by 10 dudes for an hour . The last dude comes in and kicks me in my leg . Am I going to say , "he harmed me!" ? No . I'm not . I'm going to blame the people that beat me up BEFORE . Dudes need to realize that Barack Obama isn't even President yet ;he's President Elect . Funny that people think all this stuff happening to the economy and Prop 8 is Obama's fault . My dude , he hasn't even DIDANYTHING yet . Men need to suck it up , everything can't benefit EVERYONE . It just WON'T happen . Small businesses / the rich have been getting thisbreak for a WHILE now . I hate when people only worry about themselves . Like the dude that wrote that really cares about people losing jobs . I bet he'dfire them if he thought he could make more money even if we weren't in this so - called "recession".

-_-

Nothing has even happened yet .
 
I know I'm the #1 Obama hater but come on. Rich people have been getting tax breaks for probably going on 8 years now. If you weren't stacking yourmoney when the going was good, you have nobody to blame but yourself.
 
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@ anyone thinking this is a real letter. who's boss signs it " your boss ?"


i get enough of this junk forwarded to my e-mail.. how about you quit posting it on NT too?
 
..Riiiiiiight. Letter is irrelevent as far as Obama goes right now..there is still a president in office who's name isn't Barack..so..this letter,cliff note or whatever means what to us? Funny how there have already been hundreds of thousands of job cuts already across the nation and people keep fingerpointing at Obama. Do people realize he isn't in office yet..

let me know..I'm just wondering, i could have sworn bush was still in there...

BTW i liked both presidential candidates to a degree so there was no D' riding for Obama when i made my above statement
 
Originally Posted by 718stylez

seems that as a business owner your goal should be about expanding your business by finding new customers/innovation/R&D/efficiency etc.

if the tax rate is really what will determine if you make it or not, you're probably not that good of a business owner to begin with.

i'd love to hear a CEO say to his investors that his only prospect for growth was less taxation. i'd pull my money out quick.

Seriously.

"It looks like numbers are down across the board...."

"Well that's because Obama raised taxes! (yeah that'll get 'em)"

"
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Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why: I am being taxed to death and the government thinks I don't pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my "stimulus" check was? Zero. Nada. Zilch.



It really is a shame that that probably 90% of the country doesn't realize this.


Obama is in a tough spot. He can raise taxes and probably do worse than it is now i.e. FDR raising taxes inheriting a Recession. Or he can brake his promisesto the people who voted for him.

It's not so much him raising taxes from Fed Income tax from 36% to 39.6%, it's the other taxes he will raise like Payroll, Cap Gains, Unemployment ect.


It's going to be interesting, I hope he does good, though.
 
Originally Posted by Fede DPT

Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why: I am being taxed to death and the government thinks I don't pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my "stimulus" check was? Zero. Nada. Zilch.




288,000 /qtr x 4 = 1,152,000/35% (Flat Corporate tax rate assuming its a PSC, Personal Service Company) = $3,291,429 NET INCOME that is after all expenses have been paid.

This Company probably made over 3 Million last year in Net Income and he wants to fire employees because the tax rates may go up?

Makes no damn SENSE!!
 
That letter is BS. It's one of those stupid internet chain letters that goes around. I don't believe any part of it.
 
Originally Posted by theyhatinonme

That letter is BS. It's one of those stupid internet chain letters that goes around. I don't believe any part of it.
hahahaha what is there to believe? It is a letter about one persons OPINION. Its not a true/false test. Man some of yall need to go back toschool.
 
Originally Posted by SunDOOBIE

Originally Posted by Fede DPT

Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why: I am being taxed to death and the government thinks I don't pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my "stimulus" check was? Zero. Nada. Zilch.
288,000 /qtr x 4 = 1,152,000/35% (Flat Corporate tax rate assuming its a PSC, Personal Service Company) = $3,291,429 NET INCOME that is after all expenses have been paid.

This Company probably made over 3 Million last year in Net Income and he wants to fire employees because the tax rates may go up?

Makes no damn SENSE!!




Most corporations probably pay less than 20% in taxes maybe 25%. Exxon paid like 11% or 7% I did the math a couple of months ago after looking attheir 10-K.
 
Originally Posted by SunDOOBIE

Originally Posted by Fede DPT

Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why: I am being taxed to death and the government thinks I don't pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my "stimulus" check was? Zero. Nada. Zilch.
288,000 /qtr x 4 = 1,152,000/35% (Flat Corporate tax rate assuming its a PSC, Personal Service Company) = $3,291,429 NET INCOME that is after all expenses have been paid.

This Company probably made over 3 Million last year in Net Income and he wants to fire employees because the tax rates may go up?

Makes no damn SENSE!!






Yeah you are right, he would have bring in that amount. People who make that much money don't like to lose money.


If I make $2 mill one year and you raise my taxes the next year, I may make the same amount of money, but I don't bring home the same amount of money.


How do I compensate for the money I lost? Lay off people or raise prices of goods and services.
 
I do think people reading this "letter" and not looknig at it OBJECTIVLY are doing themselves a GREAT disservice. Yes there are parts of this letterwhich are broad scathing criticisms of people however thats patrially on purpose to drive the point home. I'm pretty much 90% sure its a ficticious letterso its really just to stimulate your mind.

I am happy Obama is going to be president, I feel he is the right person for the job, however again to REALLY look at all the promises he has made and act likeeverythings gonna be all good is just a fallacy. If people choose to ignore all the points the otherside makes they are setting themselves up for dissaster andpartaking in the EXACT action they so heavily critiscized the other side for.

I would call myslf a fiscally conservative and socially liberal person. I am 25 years old and for about a year now have been running my own business. I reallyam not much different then you all, except EVERYDAY I definetly feel EXACTLY how the author describes himself in his younger life. I don't work from 9-5and collect a steady paycheck. I work from when I wake up till when I go to sleep, and basically only get breaks to check a website everyonce and a while toclear my mind or step outsde to smkoe a cigerette. TRUST ME, IT REALLY IS NO FUN AT ALL, BUT IT IS THE SACRIFICE I HAVE CHOSEN, and it is not one where rewardsare reapt immediatly. I do see people living lives just like described. checking in for 4o hours a week, and then checking out, which simply isn't how itis for the other side, especially during the struggle to create a business. I'm not jealous of anyone living that way. my usual quote on it is that "IWISH I HAD IT THAT WAY, because I have to wait on the gamble I have put my money in before even being able to count a dollar". Its just a fact statement,I'm not jealous now, but in many ways the workers has the advantage over me at this stage, while I HOPE to have my own advantages at a later time, and Ijust hope to be able to build an entity which people enjoy and I enjoy running while being able to support a lifestyle I desire. I order to do so I have towork the hadrest because the weight of all decisions and outcomes rests on me.

I'm not saying one side has it right, both sides are neccessary, however what I am saying is thinking that people should be thrilled to be taxed higher soyou can have tax cuts and get more health care is just a very greedy mindset. It seems many people ignore the part where the guy says if he had MORE moneyhe'd actually put it back into employees and the company. People are being VERY malicious about the whole concept of what it means to have a ben or whatnot, but bottomline that man did more to deserve it then a regualr employee. he gambled and won, and people are mad because they ONLY get this from their jobor ONLY get that? I don't see how that it right.

Bottomline is its guys like that that supply this country with jobs, they ALREADY pay everyones health benefits, and so many others, so why should he not bemad to have to pay more, while everyone else pays less and GETS more? Maybe ya'll haven't been around businesses so youdon't understand, but yourcurrent health beenfits are a LARGE part of your bosses bottomline.

To me this isn't about Obama or Bush or McCain. its about us. Is it right that the people making 250000 a year, which really isn't that much shouldhave the same tax INCREASE and the guy making 10million? The major problem is that the new ideas are far too simple. I'm all for people making millions ayear paying more, but I really think the plan starts increases at too low an earnnigs number and dont account for ANY of the higher numbers. WHy can't anA-rod or a Bill Gates pay more then just some guy starting a business? Why does the common person feel they should GET more health benefits while paying lessand leaving it on someone elses tab? Trust me I'm not throwing million dollar yacht and champagne parties, I'm far from the fat cat people havedeveloped this hatred for, so why be so happy to see me lose another 5%? I'm not the guy you are mad at or ever should be. I'm just like you, and soare MANY of the poeple that many BLIND followers wanna demnoize

It's no fun to pay taxes, but it's just irresponsible to not look at it objectively. What is the average $50000 a year employee gonna do with theirstimulus check or newly acquired tax breaks? same thing they get mad at the boss for doing, buying smoething extra.

I don't believe we ar falling down the "slippery slope" into socialism at all, but i do think we need to take a more realistic approach to theway we want to change taxation. i'm all for highering taxes on the rich. AS A RESPONSIBLE AMERICAN I'D BE WILLING TO PAY MORE MYSELF, BUT EXTREMELYLARGE JUMPS FOR THE NOT SO EXTEMELY RICH DOESN'T MAKE SENSE.

I really hope some of ya'll whoare so negative and scathing in your responses and REREAD the letter because in an age when everyone wants to b the nextentrepenuer or puff daddy or whatever else understand these are the things that will cross your plate
 
It seems many people ignore the part where the guy says if he had MORE money he'd actually put it back into employees and the company.
Based on the assumption I made above, if this business, assuming a C Corporation made over $3Mil in Net Income to have to pay over a milliondollars in taxes, this business has more than adequate funds to put it back into employees. Hell this guy is profiting over 3million so he could afford torent out Staples Center for an xmas party with Kobe hosting it and he would probably still have funds left over.

This letter is a prime example of a GREEDY business owner who doesn't want to pay his fair share of taxes. Maybe I am reading too much into this becauseof my profession as a public accountant but there is no way someone making over $3 mil in Net Profits should be complaining about firing employees due to anincrease in taxes. Like I said.. makes no sense what so ever.
 
This letter is a prime example of a GREEDY business owner who doesn't want to pay his fair share of taxes.


I am asking this to you and anyone reading.

The term fair share is used a lot in discussing tax policy. What is the proper and fair share of for someone to pay in taxes in your opinion?
 
Originally Posted by SunDOOBIE

It seems many people ignore the part where the guy says if he had MORE money he'd actually put it back into employees and the company.

This letter is a prime example of a GREEDY business owner who doesn't want to pay his fair share of taxes. Maybe I am reading too much into this because of my profession as a public accountant but there is no way someone making over $3 mil in Net Profits should be complaining about firing employees due to an increase in taxes. Like I said.. makes no sense what so ever.





First off... The Jersey Shirt. Well thought out response that I could not agree more with. Its a shame though that you wrote more than 4 sentences soyou're gonna have NTers asking for Cliffsnotes or just ignore entirely what you just wrote.

I dont see how this guy can be categorized as a GREEDY business owner who doesnt want to pay his fair share. Like Rex said... what is his fair share that heshould be paying? I work for a small business myself, and my boss/owner of the company does very well for himself but I cant knock him for being a youngmillionaire. He worked hard to get an Ivy League education and put that education to work. His work ethic and entrepeneurial spirit (not to mention the longhours, and several month long stretches of taking home NO pay) helped him build this company to what it is today. Should he not reap the benefits of hislabor? 6 years in now, the company is rockin and he is basically on autopilot but it aint his fault.
 
Originally Posted by K8be wan Kenobi

Dudes are itching to blame @#@+ on Obama.
OBAMA HASN'T DONE ANYTHING YET. HE IS NOT IN OFFICE.
I agree.... lets see what he actually does.
That being said "not yet" is the key phrase.... we know what to expect because of Obama's OWN WORDS about what he was going to do... so we'rejust taking Obama at his word.
So we'll see what he actually decides to do.
 
Originally Posted by TBONE95860

Originally Posted by Face82

Man if I see another Obama thread!

I really don't care about alll that #+%. It is what it is. He can't do worse than bush did. I only gave a damn about him being the 1st Black president real talk.
Oh is that right??
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He could EASILY do worse.

A lot of people just don't know their American History.
Do a little reading.
The Bush era was NOT very bad at all compared to other periods during our history (if you need to ask me for examples... once again, do a little American history reading)

People think we are in HARD economic times right now....

Please... this is nothing compared to the possibilities.


my man you should probably take off your blinders now.
 
Originally Posted by cguy610

This is the way it really works:

Demand is 1000 units @ $20 a unit
Employee can produce 250 units.
4 employees are needed
Each unit costs $10 to produce

Income with 4 employees and producing 1000 units
Income @ 1000 units= 20,000 - 10,000 = $10,000
Income after federal income taxes @40%= $6,000
Income after federal income taxes @45% = $5,500

Income after firing you and only producing 750 units
Income @ 750 units = $15,000 - 7,500 = $7500
Income after federal income taxes @ 40% = $4,500
Income after federal income taxes @45% =4,125

Should the business fire you and produce 750 units or keep you and pay the higher INCOME tax?


Does the business fire an employee and produce 750 units because INCOME taxes went up?


Also, the stock market also will look at EBIT(Earnings before Interest and Tax). And because we use marginal tax rates, the increase isn't as significant.


obviously you're either a mathematics person or a person studying business, probably the latter. if you had real world experience you would know that thosenumbers are not that cut and dry in reality. your little scenario is nice but it doesn't really work that way.
 
Originally Posted by BIG FAME ONE

Originally Posted by TBONE95860

Originally Posted by Face82

Man if I see another Obama thread!

I really don't care about alll that #+%. It is what it is. He can't do worse than bush did. I only gave a damn about him being the 1st Black president real talk.
Oh is that right??
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He could EASILY do worse.

A lot of people just don't know their American History.
Do a little reading.
The Bush era was NOT very bad at all compared to other periods during our history (if you need to ask me for examples... once again, do a little American history reading)

People think we are in HARD economic times right now....

Please... this is nothing compared to the possibilities.

my man you should probably take off your blinders now.
How? What did I say that's false?
Do you not know about the history of America and all of the other bad economic times we've had?
If you do you'd know how they compare to the 8 years we've had with Bush.

And if you don't think it's possible that things could get worse under Obama, then you just don't know what you're talking about.
 
Originally Posted by K8be wan Kenobi

Originally Posted by TBONE95860

Originally Posted by K8be wan Kenobi

Dudes are itching to blame @#@+ on Obama.
OBAMA HASN'T DONE ANYTHING YET. HE IS NOT IN OFFICE.
I agree.... lets see what he actually does.
That being said "not yet" is the key phrase.... we know what to expect because of Obama's OWN WORDS about what he was going to do... so we're just taking Obama at his word.
So we'll see what he actually decides to do.
But the guy in the article is talking about how he has to lay people off because of the economy and Obama's plan, blah blah. Wrong. The reason for the layoffs has nothing to do with Obama, someone who has not enacted a single policy. The reason for increased unemployment across the board is a struggling economy.
You've taken it all wrong.
The point of the letter from the way I see it is has more to do with Obama's beliefs and policies that he's said he will implement.
And then the effect that it will have on him & then what actions he'll have to take.
Like this is a letter that WILL be sent out.... (NOT that has already been sent out).... once Obama gets into office & starts doing what he says/wants todo.
 
However, the good news is this: The economy doesn't pose a threat to your job. What does threaten your job however, is the changing political landscape in this country.

Of course, as your employer, I am forbidden to tell you how to think politically
I stopped reading after that
 
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