Business Concerned about an Obama Presidency.

[nuttylawprofessor]

I don't know anything about the polls, so I won't comment on that, but personally, I don't want Obama in the White House as his tax increase will affect Dh's business drastically.

I've posted about it before but it was weeks ago. DH is a small town doctor and just last month, we couldn't pay him because his taxes and his malpractice insurance were due. Thankfully we had savings to take care of our personal bills.

Obama's tax plan will affect us and raise our taxes. Plus, from what I understand from the debate the other day, we can't afford to purchase insurance for our employees, nor can we afford a fine due to not having insurance for them. We are barely making ends meet - especially in this economy where his income depends on people paying for his services.

Economists may say one thing - and that's fine, but for DH's business, we can't afford Obama.

If Obama's tax plan is going to raise your taxes, that means you are making over $250K. I understand why those making over $250K, like your family, would rather have McCain in office. I can't fault you there. But think about the increase in revenue you would have from the increased number of patients who could now come in because they have health insurance.

 

[Mermaid02]

John McCain doesn't know anything about the economy. Only people who says he does are liars or stupid people.

That made no sense.

 

[schmitty]

John McCain doesn't know anything about the economy. Only people who says he does are liars or stupid people.

John McCain does not know anything about the economy. The only people that believe John McCain knows anything about the economy are liars, who lie to themselves, or stupid people who just refuse to acknowledge the fact the even McCain himself he knows nothing of the economy.

 

[lsyorke]

It's no coincidence that the decline in the markets has accompanied Obama's rise in the polls.

Then I guess that Paulsen's repeated warning that the economy isn't going to turn around for at least a year has nothing to do with it. Nope, it's Obama's fault....unbelievable.

 

[MeghansMommy]

If Obama's tax plan is going to raise your taxes, that means you are making over $250K. I understand why those making over $250K, like your family, would rather have McCain in office. I can't fault you there. But think about the increase in revenue you would have from the increased number of patients who could now come in because they have health insurance.

Not exactly. Red tape. I don't want to go into it now, but red tape.

As for us personally making over $250,000 - I wish. It's the business that makes over $250,000 - minus payroll, minus equipment, minus taxes, minus payroll taxes, minus etc - not us personally.

eta: With McCain, insurance will be more available too. McCain makes more sense for us.

Gotta go get kids to bed now.

 

[Jennifer S]

Not exactly. Red tape. I don't want to go into it now, but red tape.

As for us personally making over $250,000 - I wish. It's the business that makes over $250,000 - minus payroll, minus equipment, minus taxes, minus payroll taxes, minus etc - not us personally.

eta: With McCain, insurance will be more available too. McCain makes more sense for us.

Gotta go get kids to bed now.

I have a question. My BIL is a small business owner. Yes the business makes over 250 but he personally does not. Does that mean he still falls into BO's tax plan?

 

[gottaluvPluto]

If Obama's tax plan is going to raise your taxes, that means you are making over $250K. I understand why those making over $250K, like your family, would rather have McCain in office. I can't fault you there. But think about the increase in revenue you would have from the increased number of patients who could now come in because they have health insurance.

Don't believe it is only going to be the people making $250K that will be taxed.
Have you ever heard of embedded tax?

 

[Island_Lauri]

Not exactly. Red tape. I don't want to go into it now, but red tape.

As for us personally making over $250,000 - I wish. It's the business that makes over $250,000 - minus payroll, minus equipment, minus taxes, minus payroll taxes, minus etc - not us personally.

eta: With McCain, insurance will be more available too. McCain makes more sense for us.

Gotta go get kids to bed now.

Businesses do NOT pay taxes on their GROSS income. They pay taxes on NET profit. And if they have a net loss, that can be used to offset net profits in the future. A business can earn $1,000,000.00 and it can pay its CEOs, its suppliers, its employees, rent, utilities, on and on and on and then if there is any profit left, they would pay taxes on that. If a small business earns $250,000, it does not pay taxes on the $250,000.

And businesses do NOT pay PAYROLL taxes. They make matching mandatory contributions for social security and medicare. They withhold payroll taxes from their employees and they are responsible for depositing these fund with the government. They pay unemployment insurance and worker's compensation insurance and disability insurance.

As far as insurance under McCain, you do realize that he wants to tax the health insurance benefits that are provided by businesses to their employees! How will that ensure that "insurance will be more available"?

 

[jrsmom]

Its unfortunate to tar all CEO's with the same brush. Companies, large and small are the engine of our economy. Most are responsible businessmen and women who want their companies to succeed and make money for their employees and their share holders. They create jobs and thus create wealth.

Right, they have been doing such a great job with all of this?

 

[TLSnell1981]

If Obama's tax plan is going to raise your taxes, that means you are making over $250K. I understand why those making over $250K, like your family, would rather have McCain in office. I can't fault you there. But think about the increase in revenue you would have from the increased number of patients who could now come in because they have health insurance.

Here we go again. More class warfare. Many small business owners are going to be affected by the $250K tax hike. Everyone making over $102K are going to be hit by the SS tax increase.

Health insurance....please don't buy into Obama's plan. It was implemented 14 yrs. ago ...it's called TennCare. This is Hillary's model for National Healthcare. It hasn't worked....doesn't work....and won't work. It is a huge tax burden on the state and the roles have been reduced more than a few times. There are many, many problems with this.....it's been tweaked to death and keeps failing.

Oh, btw, the reimbursement is not only low....often you receive no pay. This is why many Drs can't accept it.

 

[bicker]

Both sides would screw up the economy just the same -- the only difference is how they'll get there.

 

[Purrrrfecta]

Actually this is the discussion that was going on on the radio while I was driving home. They claim that the stock market is tanking because of the fear of a possible Obama presidency. I guess we'll see, if the polls change will the stock market? Could be interesting.

Tina

Talk Radio - far right radio or was it another channel

Talking point. Please give me a break. The market is crashing because CEOs were greedy. Plain and simple.

 

[joviroxx]

Are these the same CEOs that are making 7 figure salaries? It's time for a change. Period. Corporate greed has to stop.

Right, cause all corporations in America are huge greedy monstrosities, which I agree, needs to be dealt with but thank you for proving that Obama has so many people convinced that business owners are the big bad evil monsters in our economy. I hope one of them continues to create a job for you or you might need to become one yourself.

John McCain doesn't know anything about the economy. Only people who says he does are liars or stupid people.

And Obama does because...Oh yeah! Its all that experience and years in the Senate..silly me, I forgot.

And businesses do NOT pay PAYROLL taxes. They make matching mandatory contributions for social security and medicare. They withhold payroll taxes from their employees and they are responsible for depositing these fund with the government. They pay unemployment insurance and worker's compensation insurance and disability insurance.:

Yup, and if they don't have the capital to grow, guess what? Less revenue for the government as less people witll be employed. You have to be able to afford to match those contributions before you can actually hire people.



The majority of the economy is NOT driven by huge corporations with lists of officers and stockholders longer than my grocery list. Most of the economy is driven by small to med size businesses. Subchapter S and LLC Corporations profits are paid as personal income tax by the owner. These tax increases WILL affect the ability of companies to grow, maintain employment, let alone the money they put BACK into the economy will suffer.

I don't think that either man knows all the answers, heck, most economist don't know but one thing is clear, we need to support businesses and help them to inject power into this economy.

 

[TLSnell1981]

Talk Radio - far right radio or was it another channel

Talking point. Please give me a break. The market is crashing because CEOs were greedy. Plain and simple.

It's a little more complicated than that. The economy is in sad shape. People have been told the sky is falling for two years. Well, it finally happened. Folks are scared. People who own businesses....the ones who give people jobs....know Obama is not a friend. He wants to tax and tax and add huge social programs.

Taxes will go down for many Americans. They won't have jobs. Business owners will be unable to grow there businesses. If they don't have the business....they don't need the employees.

 

[joviroxx]

Talk Radio - far right radio or was it another channel

Talking point. Please give me a break. The market is crashing because CEOs were greedy. Plain and simple.

Actually, it wasnt a talking point. They were speaking to people who pulled their money out of the market. They preferred to pay today's rate of capital gains tax and not risk it later when Obama raises it. They are waiting to see who wins to decide what to do with the money they pulled out.

Not a talking point at all, but real people being interviewed explaining their decisions.

 

[JonS99]

The govt is over $10 trillion in debt, more money is going to be spent to turn the economy around and Obama wants to have Socialized medicine and other social programs.

Do you people that are voting for Obama really think the only people going to see increased taxes are those making over $250K? Heck, even the other night in the debate, he changed it to those making over $200K...

 

[adkkev]

NEITHER candidate will be able to LOWER your taxes. It is NOT going to happen. To even think that it's going to happen is a pipedream. There will be NO universal healthcare, at least not in the near future. McCain's healthcare proposal won't pass either (businesses who provide healthcare will lose their tax exemption for providing it, and you will be taxed on whatever benefits your employer may be able to give you). Capital gains taxes won't rise ... there's not enough business out there right now to tax. We continue to spend 10 billion dollars a month in Iraq. We're giving oodles of cash to banks and investment firms. Where is all that money going to come from to pay for all of this spending at current levels???

 

[Jennifer S]

Actually, it wasnt a talking point. They were speaking to people who pulled their money out of the market. They preferred to pay today's rate of capital gains tax and not risk it later when Obama raises it. They are waiting to see who wins to decide what to do with the money they pulled out.

Not a talking point at all, but real people being interviewed explaining their decisions.

Kelsey Grammer was on TV today saying he did that.

 

[lillybug]

Businesses do NOT pay taxes on their GROSS income. They pay taxes on NET profit. And if they have a net loss, that can be used to offset net profits in the future. A business can earn $1,000,000.00 and it can pay its CEOs, its suppliers, its employees, rent, utilities, on and on and on and then if there is any profit left, they would pay taxes on that. If a small business earns $250,000, it does not pay taxes on the $250,000.

And businesses do NOT pay PAYROLL taxes. They make matching mandatory contributions for social security and medicare. They withhold payroll taxes from their employees and they are responsible for depositing these fund with the government. They pay unemployment insurance and worker's compensation insurance and disability insurance.

As far as insurance under McCain, you do realize that he wants to tax the health insurance benefits that are provided by businesses to their employees! How will that ensure that "insurance will be more available"?

 

[basas]

The govt is over $10 trillion in debt, more money is going to be spent to turn the economy around and Obama wants to have Socialized medicine and other social programs.

Do you people that are voting for Obama really think the only people going to see increased taxes are those making over $250K? Heck, even the other night in the debate, he changed it to those making over $200K...

That is the question no-one wants to answer. How will Barack Obama pay for the trillions in new spending he proposes? Of courses he says “we’ll do this, and cut this, and we’ll have more than enough to pay for it all!”. In reality, it will never work. His socialized medicine program will cost 10-times more than he’s expecting (these types of things always do) as will all of his other programs. I really wish McCain would push this more in ads/speeches. Of course, we all know how the next four years will go: Anything good that happens in America (give credit to Obama). Anything bad that happens (blame the previous administration of GWB). If Obama is elected, I can’t wait for the 2012 campaign when he'll still be blaming Bush for his inability to implement and follow through on all of his election promises!