OT – Joe the Plumber

[bob2007]

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.

[equalizer]

bob2007,

Ask sdrealtor for tax advice, I’m sure he’ll tell you that you just buy the 6,000 lb vehicle for big tax credit and various other tax savings schemes. Just like the Hollywood studios who claim accounting loss on $300M gross films, the small business owner has opportunity to shield profit. Also, about the only way to cheat on your taxes is through use of business deductions or so I’ve heard from tax pros.

We need flat tax + VAT, but good luck fighting the 2M strong accouting lobby.

[equalizer]

bob2007,

Ask sdrealtor for tax advice, I’m sure he’ll tell you that you just buy the 6,000 lb vehicle for big tax credit and various other tax savings schemes. Just like the Hollywood studios who claim accounting loss on $300M gross films, the small business owner has opportunity to shield profit. Also, about the only way to cheat on your taxes is through use of business deductions or so I’ve heard from tax pros.

We need flat tax + VAT, but good luck fighting the 2M strong accouting lobby.

[equalizer]

bob2007,

Ask sdrealtor for tax advice, I’m sure he’ll tell you that you just buy the 6,000 lb vehicle for big tax credit and various other tax savings schemes. Just like the Hollywood studios who claim accounting loss on $300M gross films, the small business owner has opportunity to shield profit. Also, about the only way to cheat on your taxes is through use of business deductions or so I’ve heard from tax pros.

We need flat tax + VAT, but good luck fighting the 2M strong accouting lobby.

[equalizer]

bob2007,

Ask sdrealtor for tax advice, I’m sure he’ll tell you that you just buy the 6,000 lb vehicle for big tax credit and various other tax savings schemes. Just like the Hollywood studios who claim accounting loss on $300M gross films, the small business owner has opportunity to shield profit. Also, about the only way to cheat on your taxes is through use of business deductions or so I’ve heard from tax pros.

We need flat tax + VAT, but good luck fighting the 2M strong accouting lobby.

[equalizer]

bob2007,

Ask sdrealtor for tax advice, I’m sure he’ll tell you that you just buy the 6,000 lb vehicle for big tax credit and various other tax savings schemes. Just like the Hollywood studios who claim accounting loss on $300M gross films, the small business owner has opportunity to shield profit. Also, about the only way to cheat on your taxes is through use of business deductions or so I’ve heard from tax pros.

We need flat tax + VAT, but good luck fighting the 2M strong accouting lobby.

[an]

equalizer, I agree that any business will try to find ways to write off as much as possible. However, even after all those write off, if their taxes will still be raised because they’re marked as rich, I can almost guarantee you that they will be the last person to feel the extra tax pain. The guy they’re employing will feel it first. They would cut one or more employee to offset the extra tax burden and make the rest work harder to compensate. If majority of employer would do that, the unemployment rate would increase and the one who still have a job wouldn’t dare shop around even though he/she now have to work even harder for the same pay.

[an]

equalizer, I agree that any business will try to find ways to write off as much as possible. However, even after all those write off, if their taxes will still be raised because they’re marked as rich, I can almost guarantee you that they will be the last person to feel the extra tax pain. The guy they’re employing will feel it first. They would cut one or more employee to offset the extra tax burden and make the rest work harder to compensate. If majority of employer would do that, the unemployment rate would increase and the one who still have a job wouldn’t dare shop around even though he/she now have to work even harder for the same pay.

[an]

equalizer, I agree that any business will try to find ways to write off as much as possible. However, even after all those write off, if their taxes will still be raised because they’re marked as rich, I can almost guarantee you that they will be the last person to feel the extra tax pain. The guy they’re employing will feel it first. They would cut one or more employee to offset the extra tax burden and make the rest work harder to compensate. If majority of employer would do that, the unemployment rate would increase and the one who still have a job wouldn’t dare shop around even though he/she now have to work even harder for the same pay.

[an]

equalizer, I agree that any business will try to find ways to write off as much as possible. However, even after all those write off, if their taxes will still be raised because they’re marked as rich, I can almost guarantee you that they will be the last person to feel the extra tax pain. The guy they’re employing will feel it first. They would cut one or more employee to offset the extra tax burden and make the rest work harder to compensate. If majority of employer would do that, the unemployment rate would increase and the one who still have a job wouldn’t dare shop around even though he/she now have to work even harder for the same pay.

[an]

equalizer, I agree that any business will try to find ways to write off as much as possible. However, even after all those write off, if their taxes will still be raised because they’re marked as rich, I can almost guarantee you that they will be the last person to feel the extra tax pain. The guy they’re employing will feel it first. They would cut one or more employee to offset the extra tax burden and make the rest work harder to compensate. If majority of employer would do that, the unemployment rate would increase and the one who still have a job wouldn’t dare shop around even though he/she now have to work even harder for the same pay.

[patientlywaiting]

bob2007, I wouldn’t have a problem with McCain if his goal was to lower the business tax rate and he leveled with the people.

Joe the Plumber is a fraud. And I have a problem with the subterfuge.

Yes, I’ve run businesses and I know how to read balance sheets and income statements.

My bet is that Joe’s plumbing business grosses (not nets) $250k. In that case, he has no reason to gripe about Obama’s tax plan, and McCain should not have brought him up.

McCain said he was to run an honorable campaign based on issues. But he’s being dishonest at every turn. That’s the point.

bob2007, read the story yourself and if you’re any good at valuating businesses, you would know that Joe the Plumber would NOT pay more taxes w/ the Obama plan.

So why is Joe the Plumber a hero to the Republican base? Because they are a herd of sheep?

[patientlywaiting]

bob2007, I wouldn’t have a problem with McCain if his goal was to lower the business tax rate and he leveled with the people.

Joe the Plumber is a fraud. And I have a problem with the subterfuge.

Yes, I’ve run businesses and I know how to read balance sheets and income statements.

My bet is that Joe’s plumbing business grosses (not nets) $250k. In that case, he has no reason to gripe about Obama’s tax plan, and McCain should not have brought him up.

McCain said he was to run an honorable campaign based on issues. But he’s being dishonest at every turn. That’s the point.

bob2007, read the story yourself and if you’re any good at valuating businesses, you would know that Joe the Plumber would NOT pay more taxes w/ the Obama plan.

So why is Joe the Plumber a hero to the Republican base? Because they are a herd of sheep?

[patientlywaiting]

bob2007, I wouldn’t have a problem with McCain if his goal was to lower the business tax rate and he leveled with the people.

Joe the Plumber is a fraud. And I have a problem with the subterfuge.

Yes, I’ve run businesses and I know how to read balance sheets and income statements.

My bet is that Joe’s plumbing business grosses (not nets) $250k. In that case, he has no reason to gripe about Obama’s tax plan, and McCain should not have brought him up.

McCain said he was to run an honorable campaign based on issues. But he’s being dishonest at every turn. That’s the point.

bob2007, read the story yourself and if you’re any good at valuating businesses, you would know that Joe the Plumber would NOT pay more taxes w/ the Obama plan.

So why is Joe the Plumber a hero to the Republican base? Because they are a herd of sheep?

[patientlywaiting]

bob2007, I wouldn’t have a problem with McCain if his goal was to lower the business tax rate and he leveled with the people.

Joe the Plumber is a fraud. And I have a problem with the subterfuge.

Yes, I’ve run businesses and I know how to read balance sheets and income statements.

My bet is that Joe’s plumbing business grosses (not nets) $250k. In that case, he has no reason to gripe about Obama’s tax plan, and McCain should not have brought him up.

McCain said he was to run an honorable campaign based on issues. But he’s being dishonest at every turn. That’s the point.

bob2007, read the story yourself and if you’re any good at valuating businesses, you would know that Joe the Plumber would NOT pay more taxes w/ the Obama plan.

So why is Joe the Plumber a hero to the Republican base? Because they are a herd of sheep?

[Author]

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