Saturday, November 5, 2011

Is it worth it for the Middle Cl?

Look, a 4% increase in taxes isnt going to cripple the economy. That is a rediculous mindset to be in. And we're talking about a tax on $250,000 PROFIT. NOT GROSS INCOME. So the 250,000 that will be taxed 4% is after salary expense, supplies, utilities, and all other expenses to the business. So that is 250,000 that the store owner gets to put in his pocket. The owner of the business will walk away with $240,000 in his pocket instead of $250,000. IMO that isnt a big loss at all, and certaintly wouldnt affect jobs, because salary expense is deductable to the company.

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