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First, you need to understand that, under Barack Hussein Obama, you’re one of the Dirty Wealthy Elite if you happen to make more than $250,000 a year.
[And even before I go further, I should like to interject at this point: who is the “party of the poor” — Demorats or Republicans? As I wrote in November of last year, The Washington Times indicated: “Democrats like to define themselves as the party of poor and middle-income Americans, but a new study says they now represent the majority of the nation’s wealthiest congressional districts. In a state-by-state, district-by-district comparison of wealth concentrations based on Internal Revenue Service income data, Michael Franc, vice president of government relations at the Heritage Foundation, found that the majority of the nation’s wealthiest congressional jurisdictions were represented by Democrats.”]
That in consideration, there’s been much made of Joe “The Plumber” Wurzelbacher’s interaction between Barack Hussein Obama and himself, documented on YouTube and the subject of numerous media points this past week.
Much has been made on the Left that Joe “isn’t a union member,” he “doesn’t have a license,” etc etc etc.
But the main point is Joe’s specific question: “I’m getting ready to buy a company that makes $250,000 to $280,000 a year. Your new tax plan is going to tax me more, isn’t it?”
To which Barack Hussein Obama responded: “I think that when you spread the wealth around, it’s good for everybody.”
This is “income redistribution.”
This is, essentially, Socialism.
Even a buck an hour increase on the minimum wage equates to $12,000 to $15,000 wages paid a year for a business that employs a few workers, and you’ve just lopped off 20% of the profit on a business that might nominally have yielded $60,000 a year in profits.
Further, small business profit margins aren’t predictable by any means. You need to bank away the good years in order to anticipate and survive the rough years.
Everybody want to make more money. Employees want to make more money; businesses want to make more money. That, on its face is not wrong — except as viewed by Leftists/Socialists/Demorats.
Growing a business increases taxable income. Growing a business is good for the economy.
Obama’s tax plan in re his $250,000 “wealthy” line will put small business owners into the 54% tax bracket. That means over 50% of whatever profits occur will be confiscated by the government.
Obama and his ilk throughout the nation, the DEM/MSM, have disdain for “Joe the Plumber.”
McCain has embraced “Joe the Plumber.” And finally, though post-debate, John McCain just now becomes Captain Obvious:
CONCORD, N.C. – Republican presidential candidate John McCain on Saturday accused Democratic rival Barack Obama of favoring a socialistic economic approach by supporting tax cuts and tax credits McCain says would merely shuffle wealth rather than creating it.
“At least in Europe, the Socialist leaders who so admire my opponent are upfront about their objectives,” McCain said in a radio address. “They use real numbers and honest language. And we should demand equal candor from Sen. Obama. Raising taxes on some in order to give checks to others is not a tax cut; it’s just another government giveaway.”
It is clearly acknowledged that “small businesses” employ the greatest number of persons in the country. If you hurt small business, you hurt the country. Obama has no grasp of this clear concept whatsoever.
Businesses aren’t in business to lose money. It is not their job to “take it on the chin” for the government or the populace in general. Businesses operate on a principle with which Barack Hussein Obama and government in general have no clue: incentive. More risk for more gain. Those who take the risks should reap the gains!
Once Obama’s tax plans are set into motion, businesses won’t slap their foreheads nationwide and exclaim: “Shucks, looks like we’ll just have to lose money for a few more years — but that’s fine because, after all, we’ll know we’re ‘doing our part’ for Obama.”
No. Businesses will take one or more of the following paths:
- Raise prices on their goods and services;
- Lose employees by attrition;
- Fire employees outright.
- And expect themselves and those remaining to do more with less;
- That is, if they can even afford to stay in business.
That puts more people into the unemployement lines. That creates a greater hardship on individuals and families. It impacts family budgets. It reduces or eliminates consumer discretionary spending.
“Joe the Plumber” indeed. How about The Individual American?
BZ
P.S.
Apologies for the late post; this was written last night and about to be published until, of course, the number on the opposite end of my dial-up was, of all things, busy for hours and hours. Heavy sigh.
OBAMA + DEM CONG = USA RIP
But I have to ask, isn’t McCain throwing accusations of being a socialist a bit hypocritical?? They BOTH voted for and supported the bailout, and THAT is as socialist as it gets…
And I was going to say, *pot calls kettle black* but you know how it is when you say the word *black* any more… You must be a racist if you do…
If you have an economy that doesn’t or can’t support small business, where people can’t afford to purchase the products or services that come from small business, than being taxed is the least of small business owners concerns. Small businesses would much rather be taxed a little more than go out of business all together which is what’s happening now and Obama isn’t even President.
So really, let’s be fair. Small businesses are in dire straights and there hasn’t been a Democrat anywhere near the White House in 8 years and they’ve only been in the house for 2 years.
Believe me small business owners aren’t worried about being taxed; they’re worries about staying in business, today and tomorrow, not next year.
McCain, Obama, it doesn’t matter. What matters are the decisions a small business owner will make. There are more opportunities out there today than there was yesterday, or last week, or last month, or the year.
A President, any President will have NO effect on the success or failure of a small business that will be decided by the decisions the business owner makes, nothing less, and nothing more.
As always, another great post from BZ.
One more thing…….
Don’t want to pay business taxes, get a Republican accountant.
It works everytime, believe me I know.
EXACTLY BZ, I put fourth many of those same thoughts.. I got a few comments from some libtards about Joe the plumber being behind on his taxes…*sigh*
McCain at least will tell you where he is taxing you, he will at least let you know he is screwing you over.. You know the “Straight talk”.
I think Obama, Biden, Pelosi, and Reid being on top of everything will take us to an even worse economy, a worse world view, and a worse American confidence at home.. Well except for the San Fran elite, they will be happy.
You’re using common sense, logic and facts. That will never work.
Ranando: with the exception that that’s not what I’m hearing from the three small businessmen -and women that I know personally. One guy and his wife run a Der Wienerschnitzel. Another runs his own graphic design business. Another has a drywall business. Every one of them has indicated they’re already at the limit with taxes and that the alternatives include precisely what I forecasted. Those prognostications were mostly theirs, with my comments added as well. These are people who have businesses in Fornicalia and have limited employees, from three to seven. The common line from all three is this: more taxes equals their disgust with not only Fornicalia but the US government as well, to the point where they fear they’d have to abandon their businesses, franchise, liquidate, let loose employees.
And let’s be truthful and lay the cards straight out: I surmise you have more “connects” and more access to ready cash than the “average” new Fornicalia business neophyte. Granted, you SHOULD take advantage of everything around you. But many, many businesses and businessmen -and women DON’T have the ready plug-ins that you’ve enjoyed by sheer dint of your location, your family, your history, your associations.
BZ
Taxes have to go up. We’ve blown $1 trillion in Iraq, tossed $700 billion at people who don’t need it and our debt clock needs a new digit.
The bill is going to come due anyway, if not for us, then our children, and their children. Like it or not.
Also, the right tosses around the word “socialism” like it knows what it means, and “communism” like it’s 1959. Neither happen to be true.
No, Anonymous, I don’t think that taxes do have to go up. I think loop holes have to get closed so people get away with less. Making someone finally pay what they should be is not a tax increase. The other end is spending. Start with the millions of so-called taxpayers who get a bigger refund than their withholding was. They are not tax”payers”, they are welfare recipients! Get that bullshit out of the hands of the IRS so it can be controlled. Next step, quit giving MY MONEY to illegal aliens !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1
Anonymous: you and I agree on one clear point; we pissed away $700 billion on people and entities who should have been allowed to fail. Correct.
Merriam-Webster dictionary: “Socialism; any of various social systems based on shared or government ownership and administration of the means of production and distribution of goods.”
And I agree with AA; it is not mandatory that taxes increase. It IS mandatory that SPENDING DECREASE.
BZ
I work for a privately held company (grocery chain) who’s profit margin is less than the 7% tax increase that Barry Obama is proposing.
Liberals never understand cause and effect.
Actually, anon, taxes DON’T have to go up! We need economic growth and we need to plug the trade deficit. Raising taxes will slow economic growth, and government will just end up growing faster than the small amount of increased tax revenue from raising taxes. As a percentage of GDP, federal revenue hasn’t fluctuated outside of 8% to 9.5% since before 1960, and low tax rates grow the economy.
In 1960, federal tax receipts were $620 billion with the top marginal tax rate of 91%. Today, with the top marginal rate of about 36%, federal revenue is at an all time high of over $2.5 trillion.
Almost 60% of our federal budget goes to the four biggest entitlements. That is over three times what we spend on the military.
We need to stop the growth of entitlements, and in fact roll some back through privatization, curtail government spending, achieve energy independence, and grow the economy by lowering tax rates.