“If companies are already having a tough time making money, and on top of that you levy even higher taxes, guess who’s going to get axed??”
A company that is having a hard time making money will not be impacted at all by the tax increase. It’s not until they start clearing a monthly PROFIT of $20,000 per month that they are even affected. And as the article points out, the taxes are only increased on that portion of profit over $250,000 per year.
So if their profit rises to $300,000 per year they would see a 3% increase in taxes on only a portion of that profit.
I’m not a business owner, so I can’t say what their thought process would be. However, if my boss offered me a $50,000 per year raise, but told me I would have to pay 39% of it in taxes instead of 36%, I don’t think that would dissuade me at all from accepting the raise.
“If companies are already having a tough time making money, and on top of that you levy even higher taxes, guess who’s going to get axed??”
A company that is having a hard time making money will not be impacted at all by the tax increase. It’s not until they start clearing a monthly PROFIT of $20,000 per month that they are even affected. And as the article points out, the taxes are only increased on that portion of profit over $250,000 per year.
So if their profit rises to $300,000 per year they would see a 3% increase in taxes on only a portion of that profit.
I’m not a business owner, so I can’t say what their thought process would be. However, if my boss offered me a $50,000 per year raise, but told me I would have to pay 39% of it in taxes instead of 36%, I don’t think that would dissuade me at all from accepting the raise.
