Just a point!
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Just a point!
| Mon, 10-20-2008 - 11:04am |
I am a lurker. I love this board because, I love to read the research the posters post in here.
| Mon, 10-20-2008 - 11:04am |
I am a lurker. I love this board because, I love to read the research the posters post in here.
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Yes, I agree.
I am European too and I disagree with you. There are certainly problems with some of the European systems too, but my father and both my grandfathers ran small to medium businesses all their lives. They all did very well with it.
Also, please note that the tax increase is on personal income over 250K, not on the gross dollar volume of a business.
You know, there may be something to that idea of 'spreading the wealth' around.
~ SW
<>Also, please note that the tax increase is on personal income over 250K, not on the gross dollar volume of a business.<>
WHy didn't he say that to the plumber when he was asked if his taxes would go up when he bought a business that made over 250K. I heard him say yes...spread the wealth... blah blah...nothing about whether it would be the business,
How long ago?
Did they run the business? Well one grandpa died in 1962. My other grandpa sold the family business in the 70s and did quite well in the sale, although times were hard thanks to the oil crisis (he was in building supplies mostly). My dad retired a few years ago, but still has some income from a patent from that business, and my younger brother runs a very successful business as a graphic designer. Dh and I run a small business too and have done so for a long time, both in the US and in Europe.
Business law is generally more advantageous in the US, although most of the northern European countries have done very good work in revamping their business laws in the last ten years. Some of those economies are currently doing extremely well.
I just looked up the income tax paid by HAL
That is not clear to me. As far as I can see there is no mention of a 250K dividing line when it comes to business tax. How corporate taxes will change is not clear to me either. IME, small businesses do not usually pay much in taxes, except for payroll taxes. This is because any profit is usually either plowed back into the business or paid out as salary to the owner, in which case it is an expense to the business (therefore not taxed) and any taxes paid on that money are income taxes paid by the owner.
So, from a small business POV, how payroll taxes might change is probably the most pertinent taxation question. Small businesses that pay health insurance for their employees, as OP's dh does, will definitely see payroll taxes go up under McCain's plan, however.
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