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This is just getting to be more than I can take.

Republicans continue to spread the most blatant misinformation about taxes, which leads me to wonder if they know anything at all about small businesses and how they pay taxes.

The claim they make is that allowing the temporary tax reduction to expire for people who make over $250K will cost jobs, because these people are the "job creators."

The false claim goes like this: since many small business owners file as individuals rather than corporations, a higher individual rate will keep them from hiring people, or will cause them to lay off existing employees.

Romney has been repeating it in his stump speeches. McConnell and Boehner have been saying it. And this morning Joe Scarborough painted a sad picture of a hypothetical person who is making $250K and has six employees, but who will have to let one go because of his taxes going up. The implication is that his business makes $250K, from which he first pays taxes, and then himself and his employees. Good grief. What a maroon.

Here is how it actually works:

Before I fill out my 1040 form each year, I first complete Schedule C. On this form, I list my business income, from which I subtract my business expenses. These include things like rent, machinery, depreciation, and (here's the important part) wages and benefits paid to my employees.

The money that remains is my profit, which I then enter on Line 12 of my 1040 form. This becomes part of my "adjusted gross income (AGI)," which is the number used to calculate the tax I owe.

If my AGI is more than $250K, I will pay 3% more on the amount over $250K (assuming Obama gets his way). But that does not affect the money available to pay my employees and my other business costs. Therefore, this tax increase would not affect hiring in any way.

So I ask again... are these guys stupid, ignorant, or opportunistic liars? I know which one I choose.

krose wrote:This is just getting to be more than I can take.

Republicans continue to spread the most blatant misinformation about taxes, which leads me to wonder if they know anything at all about small businesses and how they pay taxes.

The claim they make is that allowing the temporary tax reduction to expire for people who make over $250K will cost jobs, because these people are the "job creators."

I'm sure that it is just a coincidence that the people who stand to benefit from this are the people at the top of all the LDS for profit and not for profit businesses and the people at the top of Corpaorations such as the Marriott Corp.

Romney will scratch the backs of people who scratch his.

krose wrote:This is just getting to be more than I can take.

Republicans continue to spread the most blatant misinformation about taxes, which leads me to wonder if they know anything at all about small businesses and how they pay taxes.

The claim they make is that allowing the temporary tax reduction to expire for people who make over $250K will cost jobs, because these people are the "job creators."...

I suppose this is what one ought to expect in a society where everybody gets one vote, regardless of how intelligent and informed they may or may not be.

If I were a Republican, I’d say that the small business owners’ after-tax profits are the main source of capital for their future business endeavors—increase their tax rates, and they have less money left over to create and expand their businesses.

If I were a Democrat, I’d say that by increasing tax revenues, the federal government will borrow less money. When the federal government borrows less money, investors who would have invested in government bonds will be forced to invest their money in other things. Not only will this cause investment capital to flow to private businesses, it will lower interest rates, which will allow businesses to borrow and invest even more.

But as a dedicated Marxist, I support neither of these positions. I call on the Proletariat to revolt against their Bourgeoisie oppressors, claim the rightful fruit of their labors for themselves, fulfill the promise of the revolution once and for all…

I really don't care to protect the upper 1% and I'm not convinced that lowering their taxes automatically results in investment.

But there's a different class struggle going on and it includes a lot more people than the upper 1%. It also includes a lot more money by virtue of the vastness of the numbers. It's between middle class people who have to work overtime trying to make ends meet only to get taxed more by a government that buys votes from people who do little to no work at all. It sure took Obama long enough to offer us (the middle class) a tax break. Maybe he really is scared of losing the election. But I don't see someone who continues to refuse to enforce the border as concerned about the American worker.

ajax18 wrote:I really don't care to protect the upper 1% and I'm not convinced that lowering their taxes automatically results in investment.

But there's a different class struggle going on and it includes a lot more people than the upper 1%. It also includes a lot more money by virtue of the vastness of the numbers. It's between middle class people who have to work overtime trying to make ends meet only to get taxed more by a government that buys votes from people who do little to no work at all.

This is so bizarre, and not based on facts at all. Federal income tax rates are lower now than in the last 30 years. Taxes being too low is the reason the deficit is so large. We had to borrow to pay obligations because tax revenues have been choked off.

It sure took Obama long enough to offer us (the middle class) a tax break.

Man, you've got to pay attention better than that. It was the first thing he did!

Fully 36% of his stimulus bill was in the form of middle class tax reductions, amounting to $116 billion. It's an $800-per-couple credit called "Making Work Pay." You may have missed it because it wasn't a check mailed out like Bush did his stimulus attempt. Also, along with campaigning extensively on this current proposal in 2008, he tried to pass it in 2010, but was blocked by Republicans. He eventually caved and extended all of the temporary cuts for two years. The reason he is trying again now is because that extension ends in January.

But I don't see someone who continues to refuse to enforce the border as concerned about the American worker.

You're not repeating that lie again, are you? How could you have missed the doubling of the border guards and the dramatic increase in deportations?

There are two classes of Republicans.

Class A are the Republicans who run the party. They are the ones that reside in the background and are seldom heard of.

Class B are the Republicans that support the party in a public way (the vast majority) and believe the party line (no matter how ridiculous). The great, unwashed masses (Tea Party?).

Class A Republicans are liars.

Class B Republicans are stupid.

Taxes being too low is the reason the deficit is so large. We had to borrow to pay obligations because tax revenues have been choked off.

What obligations? How about telling the welfare people, sorry but we don't have it to give.

Man, you've got to pay attention better than that. It was the first thing he did!

You seem to disagree with him though. Do you have any stats that say the old Clinton slogan of, "Tax breaks on those under $250k and tax increase on those making more than $250k," would actually add up to a more balanced budget. Or are you in the camp of tax increase on everyone, and an increase in government social welfare spending?

How could you have missed the doubling of the border guards and the dramatic increase in deportations?

It's not something the left focuses on. They focus on the dream act etc. Most lefties I talk with believe in "no borders." Do you disagree? Do you think the border should be enforced or should it not? If Obama wanted to he could win over people who believe in enforcing the border by talking that factoid up more but he doesn't. His speeches talk about things like, "a citizen of the world," and making immigration a civil right of all human beings.

krose wrote:Republicans...claim they make is that allowing the temporary tax reduction to expire for people who make over $250K will cost jobs, because these people are the "job creators."

You want to raise taxes on these people? Are you nuts? They are the JOB CREATORS! We should be grateful to braid the mane of their dressage horses!

If I should happen to be lucky enough to lose my pension fund because Capitol Management Job Creators loaded my company with debt, I would be THRILLED.

Forget tax cuts. It's too late for that. Let's fix this problem once and for all:

HUMAN SACRIFICES ON AN ALTER OF DERIVATIVES, BUILT ON THE STEPS OF THE NEW YORK STOCK EXCHANGE!

Sorry about that. Where was I? I think I fell asleep during 'Fox and Friends'...

ajax18 wrote:

Taxes being too low is the reason the deficit is so large. We had to borrow to pay obligations because tax revenues have been choked off.

What obligations? How about telling the welfare people, sorry but we don't have it to give.

Man, you've got to pay attention better than that. It was the first thing he did!

You seem to disagree with him though. Do you have any stats that say the old Clinton slogan of, "Tax breaks on those under $250k and tax increase on those making more than $250k," would actually add up to a more balanced budget. Or are you in the camp of tax increase on everyone, and an increase in government social welfare spending?

How could you have missed the doubling of the border guards and the dramatic increase in deportations?

It's not something the left focuses on. They focus on the dream act etc. Most lefties I talk with believe in "no borders." Do you disagree? Do you think the border should be enforced or should it not? If Obama wanted to he could win over people who believe in enforcing the border by talking that factoid up more but he doesn't. His speeches talk about things like, "a citizen of the world," and making immigration a civil right of all human beings.

Obviously class B.

Quasimodo wrote:There are two classes of Republicans.

Class A are the Republicans who run the party. They are the ones that reside in the background and are seldom heard of.

Class B are the Republicans that support the party in a public way (the vast majority) and believe the party line (no matter how ridiculous). The great, unwashed masses (Tea Party?).

Class A Republicans are liars.

Class B Republicans are stupid.

I can see why bcspace is both a Republican and a member of the Church...