Is the threat of raising taxes on small businesses making more than $250 thousand hurting the economy?

Phil Kuarez: Not at all...or at least, it's not hurting the small businesses that will ultimately succeed because they are run by folks who understand HOW to run a business....the "tax threat" MAY cause a few poorly-run budding enterprises to crash-and-burn because they DON'T KNOW HOW TO RUN A BUSINESS, and frankly I think that's a good thing, don't you? Do you seriously want a company that have no idea how to run a business to thrive until they have the opportunity to file bankruptcy?Let me see if I can explain; do you think the Mortgage Interest Deduction on your home is a good thing or a bad thing? (It's designed to encourage more people to own their own homes and be "responsible" for themselves, right?). Now....what would you think of an acquaintance who purchased a home, didn't take the deduction, and then got behind on their mortgage payments because they could not afford them? Idiot, right? Someone who did not understand that simply by following the tax laws they w! ould not have GOTTEN in trouble probably isn't smart enough to own a home!So it is with businesses making $250K or less....there is NO logical reason (other than stupidity & poor book-keeping skills) they would be paying ANY Income taxes, so those that ARE are being run by incompetent folks and we'd all be better off if they failed today, rather than AFTER they hire a bunch of people who will then lose their jobs when the company folds due to inept management...Do you understand now?...Show more

Miguel Densley: No.The percentage of small business owners making over $250,000 in net income is estimated to be less than 2% of all small businesses. In rising the high end individual tax rates from the current 35% back to the Clinton era 39% would have no effect on the vast majority (98%) of small business owners. And remember that percentage applies only to individual income, not corporate or business income. So the average mom and pop convenience store, or the Bob's transm! ission repair, or the local car dealership, etc. would not eve! n be effected....Show more

Alise Rutgers: Income taxes may be a small percentage of business costs but profit is even smaller.

Leisa Brodnex: I'd be happy just to see the federal income tax go completely away from all Americans. The federal income tax is the main tax that is unconstitutional here, so that should be your first concern in the first place. FYI, the federal reserve income tax doesn't go to the government but to the privately owned federal reserve bankers, thus making it completely unconstitutional. Down with the Federal Reserve Act of 1913. Then the rest of tax cuts will soon follow...

Keven Woodington: Income taxes are about 3 % of business cost .. The loopholes created for the big businesses give unfair disadvantage to small companies . You hire more employees when you have more customers and with 15 million of them out of work I would say we need a jobs bill a lot more than the wealthy need more wealth .

Arlene Maycumber: The US S! mall Business Administration (SBA) defines a “small business” according to its average annual receipts or the number of its employees. Here are examples from the SBA’s Table of Small Business Size Standards setting forth the maximum average annual receipts by industry that a business can have and still be classified as a small business:Crop production of all types â€" $750,000Animal production except for cattle & chicken/eggs â€" $750,000Cattle feedlots â€" $2.5MChicken/egg production â€" $12.5MForestry & logging â€" $7MFishing â€" $4MIrrigation, sewage, water supplies â€" $7MHousing construction â€" $33.5MHeavy and civil engineering construction â€" $33.5MDredging and cleanup â€" $20MConcrete, framing, and other housing contractors â€" $14MCar dealers â€" $23-29MRV, motorcycle, & boat dealers â€" $7MFurniture, hardware, clothing & sporting good stores â€" $7MElectronic stores â€" $9MSupermarkets, gas stations & department stores â€" $27MPharmacies â€" $7MThere are ma! ny more examples at the link. In addition, most of the industries in th! e Table â€" such as manufacturers of food, beverages, apparel, print, oil/gas, plastics, plumbing, machinery, computers, electronics, electrical, transportation, and furniture â€" are considered small businesses based on their total number of employees instead of average annual receipts. In those industries, the cut-off between small and large businesses ranges from 500-1,000 employees per business/industry.It’s difficult for me to imagine a business that has 50 or more employees (let alone 500-1,000) that has receipts of less than $250,000 per year. And, given the SBA definitions of “small business,” it seems likely that many small businesses in a wide range of industries have receipts of more than $250,000 per year.If so, it is appalling that Obama would imply that, if he is President, a small percentage of businesses exceed the $250,000 per year cut-off for increased taxation under his tax plan. In fact, the number of businesses subject to additional tax may be lar! ge and could well be the 50% number I think John McCain mentioned.http://patterico.com/2008/10/07/obamas-tax-plan-an..."These are small businesses, according to the SBA. "Forestry & logging: $7M. Fishing: $4M." Did you know that forestry and logging has as many operators that are small businesses? It's a $7 million definition of a small business by the SBA. "Fishing: $4M. Irrigation, sewage, water supplies: $7M." These are various areas. The size of your business -- for example, if you're in housing construction and you're a business is under $33.5 million, you're considered a small business by the SBA. Now, keep in mind, Obama says the vast majority of small businesses don't earn more than $250,000. Let me keep going. "Heavy and civil engineering construction: $33.5M. Dredging and cleanup: $20M. Concrete, framing, and other housing contractors: $14M. Car dealers: $23-29M." Do you know some car dealers are small businesses? Those of you who work at them do. If you own a dea! lership or series of dealerships valued in your receipts (these are ann! ual receipts) between $23 and $29 million, you're a small business. "RV, motorcycle, & boat dealers: $7M. Furniture, hardware, clothing & sporting good stores," if your receipts are under $7 million a year, you're considered a small business. "Electronic stores..." They're not talking the Circuit Citys, the Best Buys and all this. If you're a mom and pop electronics store, $7 million is the cutoff line for you to be called a small business. "Supermarkets, gas stations & department stores: $27M." Anything over that, and you're not a small business; anything under it, you are. "Pharmacies: $7M.""http://www.rushlimbaugh.com/home/daily/site_101308......Show more

Roosevelt Pendill: So... people who make extra should not be taxed extra? tremendous! once I get a submit-college profession job, make advantageous i'm nevertheless interior the comparable section-time artwork tax bracket i'm now. it fairly is in ordinary terms truthful, appropriate? If i'm making six figures and ! additionally you do no longer tax me my previous low 5-discern bracket, you're killing the yankee Dream!!!! Is that a uncomplicated photograph of your good judgment right here? extra money = extra taxes. it particularly is how that's for deepest voters who have not got tax legal experts to instruct them the thank you to comprise or use different evasion methods. Obama is remaining a loophole, no longer something extra. If that kills the yankee Dream, then it grew to become into fairly a nightmare interior the 1st place....Show more

Raymon Fiene: John F. Kennedy, Nov. 20, 1962, president's news conference: "It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus." But democrats don't care about results, they care about ! establising their religion on all of us: socialism.-2/4/10 Gallup poll! : Among liberals, 61% have a sympathetic view of socialism.-6/2/11 Gallup poll: 71% of democrats want income re-distribution....Show more

Salvador Prchlik: yes