$250,000 threshold has nothing to do with Small Business Growth.
How many times does it have to be said for Republicans to change their rhetoric because they are "W"rong.
What do we know about the Income Tax Return FORM?
What do we know?
We know there are SCHEDULES on the Income Tax Return Form that allows Small Business their reduction in taxable income by the expenses of their business.
We know the taxes paid are on what small business owners REALIZE as profit.
Ready for this?
If I were a small business owner looking at paying a higher income tax because my bottom line is over $250,000, what would I do to bring the income tax level down?
Personally, I would be checking to be sure it is not time for expansion and/or whether or not I needed to make a capital investment and/or needed to increase my market share by adding advertising venues before I paid monies into the USA Treasury.
If I was comfortable with my market share, wasn't really ready for expansion and had all the updated equipment I needed; basically cruising along just fine. I would pay the extra tax over $250,000 and take a different vacation next year.
Why would I be happy to do that? Because I would be paying down the national debt, improving the financial viability of my country and be confident my children were going to have a better future; while my business was doing just fine.
The argument in preserving the Middle Class Tax Cuts are obvious, THEY are our economy and we are still growing every month. Let's get this done. The incomes over $250,000 are not necessarily returning monies into the USA economy; in the case of the disgustingly wealthy, we know they aren't; but are offshoring.
What can be done for those $250,000 to $1,000,000 income, make incentives to increase their interest in the USA economy and offer that as a tax break, but, that is all I'd do to bring interest to the economy for those making over $250,000. Otherwise, the Middle Class is where our economy is at and we need it to be as viable in the market place as possible.
One other thing, I'd re-examine "Income Averaging" for those having one exceptionally good year out of every five. This to be sure they aren't unfairly having a tax burden one year that sincerely would be unfair over a five year window. That would also provide a better option for those $250,000 to $1,000,000.
Another name for income averaging is "fairness."
How many times does it have to be said for Republicans to change their rhetoric because they are "W"rong.
What do we know about the Income Tax Return FORM?
What do we know?
We know there are SCHEDULES on the Income Tax Return Form that allows Small Business their reduction in taxable income by the expenses of their business.
We know the taxes paid are on what small business owners REALIZE as profit.
Ready for this?
If I were a small business owner looking at paying a higher income tax because my bottom line is over $250,000, what would I do to bring the income tax level down?
Personally, I would be checking to be sure it is not time for expansion and/or whether or not I needed to make a capital investment and/or needed to increase my market share by adding advertising venues before I paid monies into the USA Treasury.
If I was comfortable with my market share, wasn't really ready for expansion and had all the updated equipment I needed; basically cruising along just fine. I would pay the extra tax over $250,000 and take a different vacation next year.
Why would I be happy to do that? Because I would be paying down the national debt, improving the financial viability of my country and be confident my children were going to have a better future; while my business was doing just fine.
The argument in preserving the Middle Class Tax Cuts are obvious, THEY are our economy and we are still growing every month. Let's get this done. The incomes over $250,000 are not necessarily returning monies into the USA economy; in the case of the disgustingly wealthy, we know they aren't; but are offshoring.
What can be done for those $250,000 to $1,000,000 income, make incentives to increase their interest in the USA economy and offer that as a tax break, but, that is all I'd do to bring interest to the economy for those making over $250,000. Otherwise, the Middle Class is where our economy is at and we need it to be as viable in the market place as possible.
One other thing, I'd re-examine "Income Averaging" for those having one exceptionally good year out of every five. This to be sure they aren't unfairly having a tax burden one year that sincerely would be unfair over a five year window. That would also provide a better option for those $250,000 to $1,000,000.
Another name for income averaging is "fairness."
