Why does Obama want to destroy small business?
Obama after he was caught on video telling an Ohio plumber that he intends to take the profits of small-business owners and "spread the wealth around" to those with lesser incomes. The fracas over Obama's tax plan broke out Sunday outside Toledo when Joe Wurzelbacher approached the candidate. Wurzelbacher said he planned to become the owner of a small plumbing business that will take in more than the $250,000 amount at which Obama plans to begin raising tax rates. "Your new tax plan is going to tax me more, isn't it?" the blue-collar worker asked. After Obama responded that it would, Wurzelbacher continued: "I've worked hard . . . I work 10 to 12 hours a day and I'm buying this company and I'm going to continue working that way. I'm getting taxed more and more while fulfilling the American Dream." Forget spread the wealth, how about kill the poor.
Elections - 11 Answers
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1 :
He wants a Socialist society. He wants the small businesses to be government controlled instead of destroying them.
2 :
A profit of $250,000 for a plumbing company does not sound poor to me.
3 :
The GOP have ruined the US economy. They started with a budget surplus, and now look at us! The Bush/McCain/GOP war in Iraq has cost us $3 trillion!! (that's $10,000 PER PERSON!) It has not found WMD or bin Laden, cost 4,000+ US lives, and had no valid justification in the first place. And since the US Treasury didn't have that kind of money sitting around, the GOP "Charged it!". They added it to the US federal deficit! It is ironic that Republicans criticize Democrats as tax-and-spend liberals, yet this Republican administration has done more to increase the US' federal deficit than any other administration in history (they are the "New Democrats"!). Since we didn't have $3 trillion for their war, and billions for the Bush tax stimulus, the GOP simply "charged it!". They got out the card, and put it on the tab! The US now owes $10 TRILLION (or $30,000 per person) thanks to the GOP; do they think our debtors (mostly China) are going to forgive that? My kids and their kids and their grandkids will be paying that back for decades! When the GOP ask for the charge card in November, just say "No!". How can the American people continue to be duped by the GOP's ruse that "we don't raise your taxes", when INSTEAD they increase the federal deficit to such incredible levels, and hope no one will notice?
4 :
Do you not know that is how taxes have always been??? The more the make, the higher your rate goes...called tax brackets...look into it.
5 :
I'm confused. The plumber (who is probably already rich and greedy) will be poor when he takes over this business? By the way, a blue-collar worker is an industrial laborer, not an independent business owner, even if such a person gets his hands dirty.
6 :
WAS YOU THERE??????????????????
7 :
You are correct! Barack Hussein Obama is implementing Communist Karl Marx's agenda of Wealth Redistribution. That should be illegal and he should be subject to arrest! Of course, we don't expect his brainwashed cult of Obama members to understand a word of this, especially the younger they are. ALSO PLEASE READ THIS, EVERYONE (IMPORTANT): http://www.associatedcontent.com/article/1097352/existing_and_aspiring_small_business.html?cat=75 (Title): "Existing and Aspiring Small Business Owners: Are You Ready for Obama to Drive You Out of Business?"
8 :
Well how much of an increase will it be and what aspects of his business will get taxed? Those are questions that are unanswered by your comment. People are too smart to be thrown by the whole "raise taxes" bit. The fact of the matter is that the US has been borrowing money like crazy to finance two wars and has neglected the infrastructure needs and future obligations it owes to the American people. Something has to change or else the country will go bankrupt. The low tax rates of the past administration have been bankrolled by unprecedented foreign debt. John McCain says he will stop spending - of course not in Iraq or in the Defense Department or to giant agri-businesses who claim to be "farmers". So no Obama does not want to destroy small businesses.
9 :
I don't think you understand that this is income tax we're talking about here. An individual person's income, not a business' net or gross income. If a small, unincorporated, sole proprietorship, after paying all expenses and all employees, purchasing new inventory, etc., has over $0.25M left over, and the owner wants to pay himself that, well he fills out a special income tax form and pays taxes on his income just like everyone else. Now if an unincorporated sole proprietor has a quarter million dollars a year after running his business, I would say he's doing pretty frickin' well. If he wants to use that money to hire more employees or otherwise expand his business, he is free to do so, and HE WON'T GET TAXED ON IT because it will not be part of his personal income - it will be a business expense. So it will not affect the person's ability to grow their business AT ALL! Bring on the thumbs down from the people who don't care about the truth and rationality.
10 :
Well, if the poor are making more than $250,000 then I guess the Obama tax plan would about kill them, I mean they would have to pay an addition 5% or so in taxes, I am sure that would do them in.
11 :
Looks like you are a bit misinformed. His plan does not increase tax on small businesses taking in $250,000. His plan increases taxes increases taxes only on small businesses with over $250,000 profit, so it looks like your little scenario is a fabrication. BTW the $250,000 threshold will exclude 98% of small businesses and the 3% increase would amount to $7,500 not enough to trigger the massive lay offs suggested by the Republican line of thinking.
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