OK, Let's say I own a business. I make 200,000 per year on it. If I am in a 25%
tax bracket I pay 25% of 200,000 or 50,000 per year in taxes and make 150,000.
If I am in a 70% tax bracket, I would pay $140,000 in taxes. Now I don't want
to give the IRS my money so I look for deductions, like buying machinery or
hiring workers. So by the time I pay for all that I pay taxes on what's left.
Say $4,000 @ 70% or $2800 in taxes. But in the mean time I have hired folks,
bought machinery from companies that hired folks to make it. So I don't get my
$150,000 pocket money, But I created jobs!!
It is really no where as simple as that, but that's what you get when
businesses have higher taxes. When they don't you get 100 billionaires created
every year. And about 11 million unemployed.
On Oct 12, 2010, at 09:13 AM, Michael Rowe wrote:
>> Sure. We should tax the living $hit out of all these big companies!
>
> On the radio this morning was a political ad in which "the other" candidate
>stumbled so badly that the audience started to laugh. He was trying to avoid
>answering the question, "How do you create jobs?" I thought about this in the
>shower, and I haven't a clue. How does the government create jobs when many
>do not have money to spend and those who do won't spend it?
>
> Michael Rowe _______________________________________________
>
>
--
Larry B. Macy, Ph.D.
macy@upenn.edu
Senior IT Program Director
Neuropsychiatry Section
Department of Psychiatry
University of Pennsylvania
3400 Spruce St. - 10 Gates
Philadelphia, PA 19104
"I finally figured out what email is for. It's for communicating with people
you's rather not talk to." G. Carlin
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