Question for the economic aces
 

On Tue, 28 Oct 2008 19:52:41 GMT, Tom Francis - SWSports
wrote:

On Tue, 28 Oct 2008 12:19:05 -0400, "Eisboch" wrote:

It would be much, much better to minimize regular income taxes on business
if you want to stimulate the economy. Not all small businesses are
desirable investment candidates. Mine wasn't. No one could understand
what we built and when I tried to explain their eyes just glazed over.

Flat tax - the only answer.

10%.

A National sales tax is also an answer. The more you buy, the more
you pay.

With a flat tax folks can still keep income undeclared and not subject
to tax (e.g. drug dealers). Those same folks will have to pay tax
when they make purchases.

Makes to much sense to ensure it will never be enacted.

Question for the economic aces
 

BAR wrote:
D.Duck wrote:
"Tom Francis - SWSports" wrote in
message ...
On Tue, 28 Oct 2008 12:19:05 -0400, "Eisboch" wrote:

You're right. I misunderstood it, as I am sure did many others
because he
didn't explain it.
That's a large part of the problem with Obama's proposal - it's not so
much what he says as what he doesn't say. It's like a game of Clue or
playing with Newtonian mathematics on a Quantum level. :)

Obama says only people making more than $250K will have their taxes
raised, but that doesn't mean that everyone making less than that will
have their taxes cut. There's a middle segment, between $150K and
$200K for individuals and $200K and $250K for families (as I
understand it and my understanding is by no means complete because of
the ambiguities in how he states it), whose taxes will effectively
stay the same.

It's pretty obvious that Obama throws that $250K figure around
assuming that Joe Sixpack will assume that's the threshold for tax
cuts. It isn't. It's the threshold for tax hikes, and only for
families, not individuals. Or so I deduce.

He's being very slippery - amost out Clintoning Clinton. :)

There is only one thing that we can all say for absolute sure -
capital gains for folks making over $250K per year will go up -
significantly under the Obama plan.

Every time I've heard the $250K *threshold* bandied about it applies
to *workers*. What about retired?

Going back to Tom's reference to Obama being slicker than Slick Willie.
You haven't heard Obama state that it is income, dividends or interest.
It most likely will be all of the above combined.

Just remember to die in 2010 when there is no federal death tax.


If you promise to do just that, I'll send a wilted flower to your funeral.

Question for the economic aces
 

"Tom Francis - SWSports" wrote in
message ...
On Tue, 28 Oct 2008 12:19:05 -0400, "Eisboch" wrote:

It would be much, much better to minimize regular income taxes on business
if you want to stimulate the economy. Not all small businesses are
desirable investment candidates. Mine wasn't. No one could understand
what we built and when I tried to explain their eyes just glazed over.

Flat tax - the only answer.

10%.

We do not have a revenue problem, we have a spending problem. And a flat
tax will never, ever pass! Government these days is control. And taxation
is the ultimate control. You want to dissuade an action, raise taxes on
that action. Want to help a donation giver, lower taxes for that segment.

Question for the economic aces
 

Eisboch wrote:
"Boater" wrote in message
...


My guess is that Obama is targeting the existing or prospective
proprietors who want to invest in their own existing or prospective
businesses.



The average small business owner/entreupeour isn't rich with money to
invest. He/she starts a business in hopes of many someday becoming
successful and maybe even rich.

Most that I know started out by taking loans against their houses, or in my
case, simply growing when you could if you had a decent year.

Eisboch



That's how I did it. Hopefully the Fed will save me a few bucks tomorrow...

Question for the economic aces
 

Boater wrote:
Eisboch wrote:
"Boater" wrote in message
...


My guess is that Obama is targeting the existing or prospective
proprietors who want to invest in their own existing or prospective
businesses.



The average small business owner/entreupeour isn't rich with money to
invest. He/she starts a business in hopes of many someday becoming
successful and maybe even rich.

Most that I know started out by taking loans against their houses, or
in my case, simply growing when you could if you had a decent year.

Eisboch


What you are saying is not in conflict with what I said. Getting a pass
on capital gains taxes on money you invest in your own business is a
plus, no matter what the amounts involved.

You have no idea what you are talking about (again). You DO know the
difference between capital gains and profits, right? Ever heard of a
Subchapter S Corp? Look it up.