Businesses don’t pay taxes. There is no such thing as a business tax. Businesses merely collect taxes from their customers and investors.
I didn’t know Paul Krugman had a facebook page.
“Why? Because, as a
small biz employer”
I call BS.
The typical liberal nonsense. I own and operate a business myself. Obama’s plan to raise taxes (already raised payroll deduction amounts for funds they are already robbing), increase regulations (which he has to a great degree already), and make business with 50 or more employees required to facilitate Obamacare coverage is going to kill the economy. In fact the fear of what he is implementing is scaring business, both large and small, and its making them afraid to hire any employees. We already have one of the highest corporate tax rates in the world as it us. This man knows nothing about running a successful business other than to rob others and line his own nest. That’s what elite socialists do; all the rules apply to “everyone else” but them.
To the OP - running a car detailing or window washing business is nothing like running a real business with overhead and employees.
You can write off all the Wages, the Back Braces and the Workman's Comp Claims, so your Taxes will be less.
BTW - I actually know a Lawyer who basically parrots the same logic in this article. I get a headache whenever we discuss anything but the Family Pets.
The author gives away his ignorance when he states that money left in the company isn't taxed. That's not true for an S corporation since the tax is on the corporation's book income, not cash dividend payments to the owners.
High tax rates on corporate earnings slow job growth, increase prices for consumers, and lead to wasted use of resources. Put another way, if you have to pay a high enough tax rate on your S corporation or LLC, then you might as well do whatever you can to steer as much of the profit of the corporation into fancy office furniture, nice company cars, boats and planes, and sales offices in warm climates so you can enjoy your work day without paying as many taxes as you would otherwise. Needless to say those kinds of decisions result in fewer jobs in the USA.
Less profit from taxation = more money to expand business?
Pass the blunt Barry Bogart!
During the Bush Years, a very small local business (music store) was able to expand into twice their size, hire a manager, hire at least six music teachers, and have a store plus a busy music school.
2 years into the Obama Administration, the whole thing folded.
The two store fronts are STILL empty.
Crap. I could post enough libertard incoherence from Facebook to bring JR’s servers to their knees.
This actually makes more sense than most!