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carpantherfan84

Lower taxes equals hire more people and other nonsense

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Im sick and tired of people saying that lowering small business owners taxes will make them hire more people. That is ridiculous. Payroll is a cost of doing business. Costs of doing business are tax deductible. Your income tax rate on revenue used for payroll is 0%. Always has been, always will be.

You only pay income taxes on money you take as profit. Want a tax break, just hire someone, take less profit and write off the difference. Your taxes go down. I have been a small business owner for a few years now. The only people who believe that lowering taxes has any effect on hiring are the people looking for jobs. Im sorry to inform you that income taxes and employee hiring are not related.

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So how much more taxes do you want to pay?

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Your wrong!

Exxon payed an obsene 2% corporate tax rate on their meager profits in 2012. If only there was a leader who would eliminate all corporate taxes then everyone will be employed and current employees will get pay raises!

FACT! There is a National Jobs lever a president can pull located in the panic room of the White House and the Big O refuses to pull it!

Giving big corporations money works100% of the time! The banking industry started to loan out money immediately when they recieved the Stimilus pkg...

Real Fact: America will be screwed by either canidate.... One just is more deeply promoted by corporate lobbies..

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you see NEXT time we cut taxes...that's when it'll all start trickling down! just you wait!

all of those other times didn't count

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if this guy has his own small biz i have to think he wants to make money right? so since that's the case and lowering taxes will NOT help him. i'm curious to know how much more taxes he wants to pay so he can make more money as a small biz owner.

let me know your tax rate now and how much a higher one you have projected will increase your profits. not to mention market share and growth. just curious.

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I like how the OP says tax cuts wont help hiring and instead of responding to that everyone argues about tax INCREASES.

This is why we are doomed. OP stated a FACT and people cant even have the decency to agree on that.

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Taxes have been low for the last 30 years compared to previous generations.

Where are the jobs?

Derp

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Responding in way that isn't typical doesn't mean avoidance of the ques. I'm trying to get a baseline of his tax scenario.what may be a fact for him may not be for all the other bizs

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Im sick and tired of people saying that lowering small business owners taxes will make them hire more people. That is ridiculous. Payroll is a cost of doing business. Costs of doing business are tax deductible. Your income tax rate on revenue used for payroll is 0%. Always has been, always will be.

You only pay income taxes on money you take as profit. Want a tax break, just hire someone, take less profit and write off the difference. Your taxes go down. I have been a small business owner for a few years now. The only people who believe that lowering taxes has any effect on hiring are the people looking for jobs. Im sorry to inform you that income taxes and employee hiring are not related.

if you had asked a small business owner, you'd have gotten confirmation of not only how taxes affect the bottom line (which is put towards the overhead for payroll) but also how cronyistic regulations do precisely the same thing.

this article summed up a lot of it nicely: http://smallbiztrends.com/2010/12/entrepreneurship-and-taxes.html

personally, the biggest reason for myself to slash taxes is that government is wasting MORE than enough money as it is. moreover, the tax code is not supposed to be a morality bludgeon nor a means of negatve reinforcement. it's SUPPOSED to be the means to collect revenue to carry out its Constitutional obligations to its citizens. it is not meant to compell its citizen servants to give their resources for whatever it deems to be moral/important.

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Okay I cant respond to everyone so here is a general rebuttal.

First off I will not divulge personal tax information because frankly I'm not running for president and its none of anybody's business and also I don't want something said in some forum to influence any potential customers.

That being said I want to clarify my point and answer the essential question posed to my statement. I was trying to point out that the income taxes I pay as a small business owner are only on the money I decide to take as profit. If I wanted to expand my business (hire more people, change or add locations etc) I would take a loan. The money from the loan would go to my additional costs and the additional revenue would not be taxed because I would be able to claim the additional expenses on my personal tax return, to include the money I used to pay off the loan! It actually works very well and the only thing that could hurt my business is my ability to run it.

Do I want to pay more taxes? Hell No. Nobody wants to pay taxes so that is a silly question. My point is that any tax on my business does not transfer to my personal taxes in the way that is being touted in the debates. So the conversation is stupid and It pisses me off that people are going to use that as a basis for which President to vote for! People that probably never owned a business or wouldn't benefit from any change in the law either way. America is filled with low skilled workers and no manufacturing jobs. Im sorry but it really is too late to change that. Seriously look around your house. How much would that 50 inch TV cost if it was assembled in America. If they had to pay the workers 50,000+ to write Samsung on the front,lol Nobody would own them. But these are HUGE corporations with billions in assests and millionaires at the helm. They dont pay the same taxes that we pay because they keep their money over seas. They have no intention of bringing those jobs back here because even if they were only taxed 5% they would not have the revenue from sales to produce money to be taxed!! The companies that people are seeking employment from have no intention giving them jobs and it is not because of taxes.

Take control of your life! Take advantage of all the programs that are available to help you become educated so that you are no longer a low skilled worker, or start your own business. Stop begging for tax breaks for some millionaire that doesn't benefit you so he can pay employees that dont work in America.

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