I am reading this thread with great sadness. TheBreeze and patientlywaiting: correct me if I’m wrong, but this seems like the case with many americans who don’t have money voting on what to do with other peoples money.
There are always exceptions, but in general, if you work hard you should be rewarded. Please don’t quote some special cases where this is not true; in general it is true.
You two can’t possibly have run your own business, or if you did it did not go well. Small businesses need capital to grow. While many small businesses are a single person, many more have a staff. If you employ a low number like 10 – 25 people, you need easy access to capital for growth, and to cover payroll in tough times. The media always reports on underfunded companies, but having a bank account with 500k to 750k should not be penalized, as Obama wants to do.
If I were to make $500k+ as personal income with intent to spend it on consumption, then I am more open to taxing it than I am if it is capital for my business. However, if I get taxed on my business cash flow, I’m laying one of you two off, possibly for your feelings of entitlement and lack of motivation to be successful.
People just don’t get it. They think people and companies will just pay the additional tax. That won’t happen. Companies that can move to a lower tax location will do it. Now its an enforcement problem. Smaller companies in the US will operate differently to maximize income. Possibly fewer employees, definitely a change in money habits that will oppose the Obama tax plan.
I don’t think we have a good candidate to vote for, so I’m voting for the lesser evil, McCain. If Hillary were still around, she would be preferable to McCain. So I’m not party specific.
