McCain should have picked a different plumber

[Griff]

Originally Posted by TheMercenary

Oh, hell, everyone has an extra $900 they can just pull out of the budget for the business. Might be smart to go ahead and fire at least one employee. Obama will take care of them.

Tax credit for American employees hired...

[TheMercenary]

Originally Posted by Griff

Tax credit for American employees hired...

Good idea in principle. If someone includes it. The problem is that often the tax credits are given to the companies who lobby the Congress and individual representatives will seek perks for the largest companies, not smalll business. Not to mention that all of this would have to be included in the orignal bill voted on and vetted through Congress. The point is that many people either do not work for a small business, nor have they ever owned one. So it is difficult to imagine the struggles that go along with keeping one afloat. A $900 hit on a company is huge. Most small companies are not super profitable now days, in fact most are just above water, dog paddling.

[TheMercenary]

Originally Posted by DanaC

That's a rather unfortunate image to conjure, Merc. Soometimes I worry about you.

Sorry you feel this way.

[richlevy]

Originally Posted by Ibram

Sam the Plumber has now had more press conferences and interviews than sarah palin.
so, so depressing.

What's more depressing is that he seems more willing to discuss economic policy than she is. He might get it wrong, but at least he's thinking about it and seems articulate and engaged on the issues.

[Clodfobble]

Originally Posted by TheMercenary

Most small companies are not super profitable now days, in fact most are just above water, dog paddling.

Which would mean they're not clearing a $250,000+ profit, wouldn't it?

[Undertoad]

Are they taxed on the profit or the gross?

[DanaC]

The way Obama explained the other night: they'd get taxed at the extra percentage on everything above the 250k mark. So they'd be taxed as normal up to 250k and would pay an extra 3 or 4 percent on everything above that. My guess is that's worked out on income rather than profit.

[xoxoxoBruce]

I was under the impression companies are income taxed on profit.

[bluecuracao]

Originally Posted by TheMercenary

The point is that many people either do not work for a small business, nor have they ever owned one. So it is difficult to imagine the struggles that go along with keeping one afloat. A $900 hit on a company is huge. Most small companies are not super profitable now days, in fact most are just above water, dog paddling.

We ran a small business until Fall of last year. It made no net profit whatsoever in the three years we had it open, so I am pretty familiar with small business struggles.

Even if we had made half of $250,000 profit in one year, paying $900 extra in taxes would still not have been much of a hit.

[DanaC]

Originally Posted by xoxoxoBruce

I was under the impression companies are income taxed on profit.

*shrugs* you're probably right. I have no idea how this shit works :P