larger corporation will get taxed from their profits.
if their tax bracket goes up, they dont raise their prices/to make more profits!
they will spend more on gifts, and expenses to lower their taxes...
omg.
and corporate taxes are different from personal income taxes!!
Last edited by v-empire; 09-17-2008 at 01:15 PM.
Originally Posted by v-empire
There is no higher tax bracket that I have ever seen. It is simply, make 250k and you pay higher taxes.
If you are in the oil business, you pay a windfall tax.
Someone asked about business owners, my wife is, but I am pretty well into what is going on there. She desperately needs 1 more person to run the front desk, but because of the payroll taxes she cannot afford it.
Obama's plan would raise her payroll taxes, and because she grosses more than 250k a year her taxes would go up even more. That will result in her probably having to cut one more full time position to part time or cut it completely. How is that going to help the economy?
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