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Even worse, and something that's being mostly ignored is his corporate tax increase proposal. On top of increasing the corporate rate, he wants to add a 15% minimum for all revenues. I can't imagine a more damaging tax. Low margin businesses like grocery stores will be bankrupted instantly.
I did a quick mental calculation the other day with my friend who works at a music store. If an instrument they buy for $100, sells for $150, the pedophile in chief will want $22.50 erasing almost half the profit. That's not even considered low margin. Grocery stores might be operating on 4-5%.
Car dealerships would be bankrupted instantly. Their usual mark-ups wouldn't even cover the tax.
bump
The Creature from Jekyll Island:
We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!
In my business at the end of the year if you get 15% net profit you are way ahead of the game. Taxing 15% of the revenue will guarantee losses. There is no way to overcome such a damaging tax.
No - No - No - No
2016
Which appears to be the intent. Destroy all small businesses.Originally Posted by asurfaholic
I think the way to roll with it is just turn in your projected losses early .
Do something Danke
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"A politician will do almost anything to keep their job, even become a patriot" - Hearst
Half my income goes directly to taxes. Federal taxes, state property taxes.
Of the half I'm allowed to keep, I pay 6% sales tax on everything I buy.
I also pay corporate taxes, as these taxes are ultimately paid by the consumer.
Then there's gas taxes, road taxes, license taxes, 1000 other taxes visible & invisible.
Oh and if I invest the tiny % of money I am allowed to keep, I am taxed on that also.
WHAT THE $#@! IS THIS $#@! WHY IS THIS ALLOWED TO EXIST
- Kim KardashianIt's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
Donald Trump / Crenshaw 2024!!!!
My pronouns are he/him/his
Reported. There is surely some tax that was overlooked.
Consequences? Government will collect a ton of money from the billionaires, and we'll all get free money from the government. It's simple!The Consequences of Biden's Capital Gains Tax Increase Proposal
Ignorance is the enemy
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Biden needs to eliminate taxes. And just pay for things with Debt
- Kim KardashianIt's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
Donald Trump / Crenshaw 2024!!!!
My pronouns are he/him/his
Yes $#@! Zuckerberg. He has a stupid face. Take his money.
Make it my money.
- Kim KardashianIt's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
Donald Trump / Crenshaw 2024!!!!
My pronouns are he/him/his
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