You sure do leave out a bunch of taxes don't you.... Payroll taxes, taxes paid on operation expenses, Taxes on EQ, and capital gains taxes..... Raising taxes does not exactly make people want to jump up and start a company.
Originally Posted by Wyldeman30
What the hell are you talking about now Wyledman?
"It hurts small business if you have lots of government regulation. Think about it and take emotion out of what you are saying for once. If you want to start up a company and you have to deal with a lot of red tape you may just give up before even starting."
That's funny. I've owned and run three seperate businesses in my life, in two seperate states and abroad, and other than a few forms that needed filling out, there wasn't any of this magical red-tape you speak of. Hell, you don't even need a business license here in Texas!
Payroll taxes? Taxes withheld from an employees paycheck include Social Security, Medicare and Federal income taxes. That's the employee's salary and employee's salary is always considered a write-off by the company filing.
Operational expenses? I don't even know what the hell you mean by this. A company's electrical bill is not a tax, and again, these expenses (including the taxes paid on those expenses) are considered a write-off at the end of the year.
Excise tax? This cost is passed on to the customer and helps determine the price of whatever product or service a company is selling. In fact, through Obama's stimulus package vehicle excise tax can now be used as a write-off.
Capital gains? Now you're just fucking with me right? If a company chooses to invest it's money in order to make a profit, why in the hell would they not be expected to pay tax on that income? Incidentally, long term capital gains tax was reduced from 5% to 0% by Obama in Dec. 2010 through the tax cut extension for those in a 10-15% income bracket.
Now I'm begging you Wyldeman, please start reading something besides comic books and this forum. At least pick up a newspaper once in awhile.