Question on Kerry's 200K tax statement

[mudnuri]

Just curious-

anyone know where I can find to confirm either way that the 200K tax increase- WILL or WILL NOT affect small business owners???

Thanks

Brandy

 

[wvjules]

I can't resist....try www.johnkerry.com

 

[one_cat]

I think it's anyone who makes 200K or more - business owner or not. When they finally run the numbers though I'm sure it will hit a lot more of the lower middle class.

 

[DawnCt1]

Of course it won't affect Theresa Heinz Kerry whose effective tax rate was 12.8%. Much less than the Bush's 30% tax rate.

 

[peachgirl]

Very few small businesses would be affected, about 90% fewer than Bush claims.

http://factcheck.org/article265.html

 

[mudnuri]

I can't resist....try www.johnkerry.com

if you can find it there, your doing better than me! all I see is the credits for hiring more employees

I think it's anyone who makes 200K or more - business owner or not. When they finally run the numbers though I'm sure it will hit a lot more of the lower middle class.

thats what DH says- being a small business owner-If the business makes 200K a year- well, he makes 200K a year...even if he doesnt "make" 200K a year...if that makes any sense.


UUGGHH I just wish I could find a non-biased report to be able to say - yes, your right, or no, your wrong. Wont change our support for Bush...but it would be nice to know

Brandy

 

[one_cat]

In a small business it's about profit. If you have a 200K profit you have made 200K. If you have 200K Revenue but but less profit you haven't made 200K. However that said there is no way Kerry can pay for all his programs by just taxing the rich.

 

[tonyswife]

Originally posted by mudnuri




thats what DH says- being a small business owner-If the business makes 200K a year- well, he makes 200K a year...even if he doesnt "make" 200K a year...if that makes any sense.

Makes sense to me because if he "makes" $200,000, he still has to pay his overhead.

 

[peachgirl]

UUGGHH I just wish I could find a non-biased report to be able to say - yes, your right, or no, your wrong.

factcheck.org is absolutely not biased. Even Dick Cheney recommended people use it as a source to check out facts.

 

[Geoff_M]

factcheck.org is absolutely not biased. Even Dick Cheney recommended people use it as a source to check out facts.

peachgirl, you need to read your own links. It doesn't say that the figure Bush used off by "about 90%!" It says Bush was about 1/2 off... meaning that Kerry would raise taxes on only 471,000 small businesses! Wow, what a relief!

 

[peachgirl]

peachfirl, you need to read your own links.

I did read it, I simply misread it.

My apologies, Bush is overstating the numbers by more than 50% not 90.

The following from factcheck should also be noted. If implemented, it would further cut the number affected.

It should also be noted that Kerry is proposing several tax cuts specifically targeted to small businesses, including a refundable tax credit aimed at reducing the cost of health-care benefits, eliminating capital-gains taxes for "long-term investments" held for five or more years in small businesses, and a "new jobs tax credit" for small businesses that add new jobs in 2005 and 2006

 

[Geoff_M]

My apologies, Bush is overstating the numbers by more than 50% not 90.

Wrong again... the correct term would be "less than 50%".

The following from factcheck should also be noted. If implemented, it would further cut the number affected.

No, it would not reduce the number of business affected. Even if Kerry would succeed in passing those credits, they are conditional on the businesses. The current tax cuts are not conditional. It's not an apple-for-apples swap. If your employer came to you and said "I've got some good news and some bad news.... The bad news is that we're cutting your pay by 15% next year. But the good news is that if, in addition to your normal duties, you also do X and Y, then we'll give you that 15% back!" would you feel not "affected"?