How does taxing Small business and top 5% of wage earners make them hire more people?

07-12-2009, 11:18 AM

Most of us have read the numbers how the top 5% of wage earners pay some 70% of all taxes.

Small Business employees some 70% of Americans and has been the top positive economic force for the past 30 years.

Why would the Obama administration reward them with higher taxes through cap & trade and higher income taxes.

Shouldn't we make their job easier with lower taxes, less government regulations (such as cap & trade) and higher taxes so they can do what they do best.....produce jobs?

In my business I sell to small business and the vast majority of them are shaking in their boots over cap & trade and other things Obama wnats to do to them and they are already on their backs.

**mumblingoutloud** · 07-12-2009, 11:18 AM

Don't confuse the small business found on your local Main Street with the larger businesses that employ 150 or more people. How many small businesses in your area earned PROFITS of over $250,000 last year? Main Street companies WILL be helped at the expense of those that earned large profits.

I own and operate a small lumberyard and hardware store in a rural area and I will be affected in a positive way by the measures put forth by this administration. The tax breaks that I get will enable me to retain employees that, although I cannot offer them all insurance, I can afford to keep them on the payroll.

**milcollector** · 07-12-2009, 11:18 AM

It doesn't.
Left Hand Black evidentally didn't take the time to read the republican economy restoration plan....cut income and business taxes.

**rnwallace07** · 07-12-2009, 11:19 AM

It doesn't. If fact, it has the opposite effect. Unfortunately, the Democratic party has had one of its political platforms for many years, the "Tax and Spend" mentality. Politicians do not have the common sense to realize that the small business owners have been the back bone of our country and want to make everything government controlled. Since the new president has taken office, the economy has been spiraling downward even more - going to "hell in a hand basket" - and the Obama Administration still doesn't get it about bettering the economy. Especially Obama - he has now gone to Ghana. Why? The US does not have any military bases there, does not import or export from and to Ghana, so what is his purpose? To further the ideology of Muslim teachings? This is what happens when the sheep elect an unqualified person to a leadership postion.

**The Boogerman** · 07-12-2009, 11:19 AM

WHOA!!!
You're talking way over the Democrat's heads. They don't understand how raising taxes costs jobs and increases product costs.

**Left Hand Black** · 07-12-2009, 11:19 AM

Ask your Republican congressmen. That is their plan.

The republican contribution to the health care overhaul was to tax the top five percent of wage earners. Sorry if you missed that.

**Dave87gn** · 07-12-2009, 11:19 AM

Bush's plan to lower taxes on the rich to create jobs went over the heads of republicans. There is a big assumption that the rich are employers. and a second huge assumption that the rich who are given a tax cut will create jobs with it- they DIDNT
If you are a rich CEO who got $40k in personal tax cuts from Bush, that doesnt translate to him creating jobs in his professional life

Republicans are so dumb, they never think things through

**KMan** · 07-12-2009, 11:21 AM

Ok, lets say you have a brilliant idea and you want to start a business - how, exactly, would you go about it if you weren't in the top 5% income bracket?

The fact is that most people can't afford to take the risk of non-guaranteed income and loans they can't repay if the idea fails, particularly if they have a family to feed. So they have to work for someone else.

If they had health care, or enough money to build savings to launch said idea, you'd see more small businesses spring up.

The real lie of trickle-down economics is that rich people create small businesses and care about hardworking Americans. Wrong. They create big businesses and happily move the jobs to another community (or country) on a whim. Average people create small businesses. Squeezing the middle class harder makes less of them.

The more money you have, the easier it is to make more money. That's precisely why we have a scaled income tax. The objective of the government should be to make life better for the majority of it's citizens, and to make it easy for *aspiring* entrepreneurs to succeed.

As far as cap and trade specifically - unless you're in the energy or manufacturing center, I don't get why your clients are worried about it. Utility bills don't exactly make or break a business. Me? I'm ecstatic about cap and trade. There are ton of high-tech next gen energy projects here in Massachusetts. Tons in Cali too. Cap and trade makes them more viable, and makes more high-paying engineering jobs right here.

**Michael M** · 07-12-2009, 11:21 AM

Your ask asking the question that all thinking people are asking.

Yes, it will not increase jobs, but cause loss of more. Right now we have had to let so many go, management is shooting from the hip because of the unknowns.

This risk puts fear into the banking system, so loans are not made.

I don't know why the Obama administration can't see it