Better than that..
I do own a business and I gross about 440k a year.. I have overhead
so that's cut down to less than 100k a year, roughly 33% goes to
income taxes BUT there is the city tax on the property, the City tax
on the items in the building that I paid sales tax on to buy, then
there is the Parish tax (county) on the property and the Parish tax on
the things inside that I already paid parish sales tax on when I
purchased them... so now lets take away another 10K.. now if I have
an employee i will have to PAY matching Social Security and Medicare
taxes out of my own pocket so if I hire another employee I will LOSE
another $6k a year out of my pocket. I don't think so. Cut my taxes
and it's a done deal..
I am not here to create jobs, the Mega Company is not here to create
jobs. They and I are here to make a profit for the shareholders, NOT
to make money to give to those not working. It is a nice social
benefit to give money to people who aren't working while they look for
work. Gives them the time to find a job. But if I go out of business
then 5 other people lose their jobs and I get squat.
Lester
On Oct 12, 2010, at 12:58 PM, Macy Larry wrote:
> 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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