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Obama tax plan no small
deal to small businessmen
Associated Press, by Stephen Ohlemacher
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Original Article
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Posted By:JoniTx, 12/10/2012 4:38:26 PM
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| WASHINGTON— President Barack Obama´s plan to increase taxes on top earners would have only a small impact on the nation´s economy, according to congressional budget experts. But don´t tell that to small business owners facing a tax hike. Obama´s proposal would hit about 940,000 people who report business income on their individual or household returns, says the Joint Committee on Taxation, the official scorekeeper for Congress. That´s only 3.5 percent of the people who report business income, but those business owners are projected to earn 53 percent of the $1.3 trillion in business income that will be reported
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Reply 1 - Posted by:
Evocatus, 12/10/2012 5:01:18 PM (No. 9058336)
From the article: "McGregor´s company, which has 365 employees at five locations, does about $80 million a year in sales, McGregor said. Each year, a portion of the profits are distributed to shareholders, along with money to pay taxes. The rest, he said, is invested back into the company.
If taxes go up, distributions to shareholders must go up to pay the higher taxes, leaving less money to reinvest in the business, McGregor said.
"I feel a $40,000 reduction is the loss of one job, so if it´s a $200,000 tax increase, that´s five jobs," McGregor said.
For God´s sake, the Republicans should be absolutely hammering on this point. This tax increase on "the top 2 percent" is a tax on jobs. It is possible to calculate HOW MANY JOBS will be directly lost due to this demand. Why are they not hammering on this point with anecdotes that people with a Seventh Grade education can understand? The Republican position against Dictator Obama is a valid point, but if they don´t illustrate and amplify this point in a manner that people can understand, they´ve lost the argument.
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Reply 2 - Posted by:
NorthernDog, 12/10/2012 5:03:10 PM (No. 9058337)
FTA - Qualified dividends, which are now taxed at a top rate of 15 percent, would be taxed as ordinary income for top earners, or at a top rate of 39.6 percent.
That´s a massive tax increase on people getting dividend income. Note that personal exemptions will also be phased out starting at $200K for single filers. Hardly millionaires and billionaires.
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Reply 3 - Posted by:
cincinnati whig, 12/10/2012 6:17:37 PM (No. 9058478)
"small business" is the new KULAK
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Reply 4 - Posted by:
dman, 12/10/2012 6:26:53 PM (No. 9058493)
One compromise might be to tweak the tax code for Schedule C to treat S corporation and LLC income differently from individual income, especially if it is re-invested in the business.
Wait .. that might make sense. /s
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Reply 5 - Posted by:
jimmiet, 12/10/2012 10:30:55 PM (No. 9058720)
Congressioal budget experts do not exist. Congressional budget nitwits do exist but they lie and haven´t got a clue otherwise we would not be trillions in debt. The truth is working middle class Americans are totally screwed.
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Reply 6 - Posted by:
LanieLou, 12/11/2012 4:42:09 AM (No. 9058898)
Someone needs to read the small print on what Obozo considers rich... When he says millionaires... he means Net Worth, not annual income.
If the value of your home plus any assets like gold that you purchased in the last 4 years, you are a millionaire.... even if your salary is only $40k.
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Below, you will find ...
Most Recent Articles posted by "JoniTx"
and
Most Active Articles (last 48 hours)
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Most Recent Articles posted by "JoniTx"
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Tiger Woods at the Masters:
TV viewers are mostly out
of luck today
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Washington Post, by Cindy Boren
Original Article
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Posted By: JoniTx- 4/11/2013 11:39:17 AM
Post Reply
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The Masters, the first major tournament of the 2013, gets underway today in Augusta, Ga., with the first golfers teeing off at 8 a.m. And if you’d like to watch Tiger Woods, the world’s No. 1 golfer and the favorite to win the tournament for a fifth times, you’re out of luck unless you’re a fan patron on the grounds at Augusta.Woods tees off at 10:45 a.m. EDT and he should be finished with his round — just as ESPN’s live coverage begins at 3 p.m. (So enjoy watching that leaderboard reload all day and the occasional
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´Heartbroken´ Nancy Reagan
too frail to attend Margaret
Thatcher´s funeral but Hillary
Clinton will pay her respects
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Daily Mail (UK), by Martin Robinson & Staff
Original Article
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Posted By: JoniTx- 4/11/2013 11:21:43 AM
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Nancy Reagan is ´heartbroken´ over the death of former British Prime Minister Margaret Thatcher, a close friend and kindred political spirit of her late husband, but is too frail to attend her funeral. The former first lady, 91, has instead asked the chairman of the Ronald Reagan Presidential Foundation to represent her at the London service Wednesday, her spokeswoman said. ´Mrs Reagan is heartbroken over Baroness Thatcher´s death and would really like to be there in person to pay her respects,´ the spokeswoman said. ´Unfortunately, she is no longer able to make that kind of a trip,
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The War on the Family
Enters a New Stage
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American Thinker, by Stella Morabito
Original Article
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Posted By: JoniTx- 4/11/2013 10:46:40 AM
Post Reply
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Welcome to a brave new "national conversation" that proposes not simply to redefine the family, but to eliminate it. MSNBC host Melissa Harris-Perry recently shocked millions with her brazen TV promo spot urging us to get rid of the idea that kids belong to their parents or to "private" families. She presses us to replace it with a "collective" notion of children: "Kids belong to whole communities." Clearly, we are entering a new phase in family breakdown. In the earlier phases, leftist policies cultivated unrestrained sexual license, abortion and single parenting.
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Biden criticizes gun owners
who are not hunters: ´They
like the way it feels...
it´s like driving a Ferrari´
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Washington Examiner [DC], by Charlie Spiering
Original Article
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Posted By: JoniTx- 4/11/2013 10:41:58 AM
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During a conversation about gun violence on MSNBC this morning, Vice President Joe Biden explained that there was a growing group of gun owners that might not understand guns as well as hunters. “There is a whole new sort of group of individuals now who – I don’t know what the numbers are – that never hunt at all,” Biden said. “But they own guns for one of two reasons, self-protection or they just like the feel of that AR-15 at the range. They like the way it feels.” Biden imitated holding a weapon and added, “You know,
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3 million Californians could
receive health insurance subsidies
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Los Angeles Times, by Jon Healey
Original Article
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Posted By: JoniTx- 4/10/2013 11:16:52 PM
Post Reply
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Some Republicans still cling to the hope that they´ll be able to repeal Obamacare someday, but a report released Wednesday by Families USA shows why it may be even harder for them to do so after Jan. 1. The report estimates that nearly 3 million Californians could be eligible for generous insurance subsidies under the 2010 healthcare reform law, starting next year. Anyone with an income between one and four times the federal poverty line -- in other words, between $23,550 and $94,200 for a family of four -- could receive a tax credit that reduces monthly premiums dramatically.
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Obama dines with 12 GOP senators
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Politico, by Jennifer Epstein
Original Article
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Posted By: JoniTx- 4/10/2013 10:51:40 PM
Post Reply
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President Barack Obama spent two-and-a-half hours Wednesday night meeting with a group of Republican senators for a discussion that touched on guns, immigration and deficit reduction. (Snip) Others at the meal, which started at 6:41 p.m. and ended at 9:17, were Sens. Lamar Alexander (Tennessee), John Boozman (Arkansas), Susan Collins (Maine), Mike Crapo (Idaho), Mike Enzi (Wyoming), Deb Fischer (Nebraska), Orrin Hatch (Utah), Pat Roberts (Kansas), Marco Rubio (Florida), John Thune (South Dakota) and Roger Wicker (Mississippi). Press at the White House could not see the senators enter or exit the building
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Huffington Post bringing
Christie to White House
Correspondents´ dinner
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Star Ledger [Newark,NJ], by Jenna Portnoy
Original Article
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Posted By: JoniTx- 4/10/2013 6:12:29 PM
Post Reply
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TRENTON — Talk about an odd couple. Liberal media mogul Arianna Huffington is bringing GOP star Gov. Chris Christie to the White House Correspondents´ dinner later this month. The governor will feel at home with the Huffington Post founder´s other guests: New Jersey natives Jon Bon Jovi of Sayreville and Shaquille O´Neal of Newark, according to Women´s Wear Daily, which first reported the invites. Shaq recently visited Christie at the Statehouse in Trenton. Christie was one half of an unusual pairing last year, too, when he made headlines for sitting next to bombshell "Modern Family" actress Sofia Vegara.
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First lady Michelle Obama
to visit Harper High today
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Chicago Tribune, by Katherine Skiba
Original Article
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Posted By: JoniTx- 4/10/2013 3:44:47 PM
Post Reply
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First lady Michelle Obama, visiting Chicago on Wednesday for a discussion with Mayor Rahm Emanuel and civic leaders on ways to combat youth violence, will make a stop afterward at Harper High School, where students and alumni have been hit hard by gun violence. Twenty-nine current or former Harper students have been shot in the last year, eight of them fatally, her office said. The school is in the West Englewood neighborhood. At the school she will meet with a small group of students and counselors “to hear firsthand about their experiences,” her office said. The visit is not
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One-third of Air Force
including Blue Angels
grounded by sequester
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Associated Press, by Staff
Original Article
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Posted By: JoniTx- 4/10/2013 3:29:28 PM
Post Reply
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NORFOLK, Va.— A top general says federal budget cuts that will ground one-third of the U.S. Air Force´s active-duty force of combat planes including fighters and bombers means "accepting the risk that combat airpower may not be ready to respond immediately to new contingencies as they occur."Gen. Mike Hostage, commander of Air Combat Command at Joint Base Langley-Eustis in Virginia, issued the warning Tuesday as the Pentagon braces for more effects of the automatic spending cuts triggered by the lack of a budget agreement in Washington. Hostage said that only the units preparing to deploy to major operations,
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Are Right-wingers nicer
than Left-wingers?
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Telegraph [UK], by Harry Mount
Original Article
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Posted By: JoniTx- 4/10/2013 3:22:54 PM
Post Reply
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I don´t mean in a Nazis vs Communists, Hitler vs Stalin, way. I mean in a moderate way: Conservative activists vs Labour activists, you might say. It´s difficult to imagine Conservative activists behaving like the people who celebrated Margaret Thatcher´s death in Glasgow and Brixton. That´s partly because it´s hard to think of any Left-wing leader who had as powerful an effect on the country as she did. But, still, between them, Harold Wilson and Jim Callaghan – with quite a lot of help from Edward Heath – led to a disastrous decline in British fortunes in the 1970s,
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PTR In Bristol Is First Rifle Maker
To Declare It’s Exiting Connecticut
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Hartford Courant [CT], by Dan Haar
Original Article
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Posted By: JoniTx- 4/10/2013 2:02:55 PM
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During the three-month debate over gun control in Connecticut, the name PTR Industries Inc. barely came up, but the Bristol manufacturer with 50 employees has become the first maker of military-style rifles to announce its exit from Connecticut since the state adopted a strict ban on sales last week. “Although PTR has not decided upon a specific relocation site at this time, over the coming weeks the company will be actively considering offers from states that are friendly to the industry. We hope to have a site identified within the next six weeks, and hope to have our move
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Most Active Articles (last 48 hours)
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The most shocking news
you won´t see in the MSM today
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American Thinker, by Thomas Lifson
Original Article
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Posted By: magnante- 4/9/2013 11:49:09 AM
Post Reply
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The murder trial of abortionist Kermit Gosnell largely is being ignored by the mainstream media, even in the face of grisly testimony, such as what we heard yesterday. Life News reports: ...a former employee described how she heard a baby scream during a live-birth abortion. Abortion clinic employee Sherry West described an incident which "really freaked (her) out" and related to the jury how she heard a child who was born alive following an abortion scream.
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Obamacare architect Rockefeller:
It´s ´beyond comprehension´
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Washington Examiner, by Paul Bedard
Original Article
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Posted By: Drive- 4/10/2013 7:17:19 AM
Post Reply
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West Virginia Democratic Sen. Jay Rockefeller, one of the towering architects of Obamacare, on Tuesday openly criticized program managers for not moving quickly enough to build the system, warning that if it gets off to a bumpy start it will just get worse. Decrying the Patient Protection and Affordable Care Act as way too complex, he warned the acting Medicare director that Obamacare is "so complicated and if it isn´t done right the first time, it will just simply get worse."
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Ben Carson steps down as
Hopkins commencement speaker
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Baltimore Sun, by Andrea K. Walker
Original Article
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Posted By: toledo- 4/11/2013 7:11:23 AM
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Neurosurgeon Dr. Ben Carson stepped down Wednesday as commencement speaker at the Johns Hopkins School of Medicine after complaints from students about controversial comments concerning same-sex marriage. The withdrawal came less than a week after medical school Dean Paul B. Rothman chastised Carson for his comments and met with graduating students concerned that the famed physician was an inappropriate commencement speaker.
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Obama enjoys ´sequester soul concert´
at White House amid massive budget
cuts and government worker furloughs
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Business Insider, by Staff
Original Article
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Posted By: Attercliffe- 4/10/2013 4:24:28 AM
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The sequester may have many across the country singing the blues, but for President Obama, it was all about Memphis Soul. Even with the threat of furloughs and government cuts sparked by the sequester, Obama took the time to enjoy a star-studded concert at the White House tonight. The White House celebration of Memphis Soul music in the East Room--which included special guest appearances by Queen Latifah and Justin Timberlake--is likely to rile Obama´s Republican foes. Some conservatives have called on Obama to give up golf, especially since popular public tours of the White House have been canceled because of
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Obama: Put Nation´s 4-Year-Olds
in ‘Public Preschool;´ Will
Save on ‘Child-Care Costs´
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Cybercast News Service, by Terence P. Jeffrey
Original Article
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Posted By: KarenJ1- 4/10/2013 1:18:38 PM
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In the message he issued along with his budget proposal on Wednesday morning, President Barack Obama said he wants to see 4-year-old children in the United States enrolled in public schools. Obama said America needs to start enrolling 4-year-olds to make sure the children are “better prepared for the demands of the global economy” and to help parents save on "child-care costs." After saying the United States needs to “equip our citizens with the skills and training” to fill jobs in manufacturing, energy and infrastructure, Obama said, “And that has to start at the earliest possible age.”
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Obama´s Army Outmaneuvered by the NRA
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NationalJournal, by Beth Rinehard
Original Article
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Posted By: FlyRight- 4/10/2013 7:18:37 AM
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Although the first votes on gun -control legislation have yet to be cast, by some measures the National Rifle Association has already won. Obama’s ambitious plans to ban assault weapons and limit magazine capacities are off the table, while the NRA suggested it could support the most likely outcome -- expanded background checks -- as recently as 1999. The NRA claims that the president’s efforts have triggered a fundraising surge and boosted its membership from 4 million to nearly 5 million.
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4 annoying ways climate change
will make your life a bummer
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The Week, by Chris Gayomali
Original Article
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Posted By: NorthernDog- 4/10/2013 7:30:26 PM
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Within the next few decades, carbon emissions could cause global temperatures to rise between 4 and 11 degrees Fahrenheit, melting ice caps and causing sea levels to rise. The price of crops like coffee and chocolate will skyrocket, and countless cuddly animals around the globe could be wiped out. And yet, a lot of people find it hard to really care about climate change. But don´t be fooled: Climate change will affect you. Here´s a brief sampling of ways that warmer temperatures will suck the fun out of your life: 1. Your flights will be more turbulent
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Daughter of Obama´s former
pastor charged with fraud
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Reuters, by Mary Wisniewski
Original Article
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Posted By: mitzi- 4/11/2013 1:11:19 AM
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The daughter of President Barack Obama´s controversial former pastor was indicted on Wednesday on charges of money laundering and lying to federal authorities, a Justice Department spokeswoman said. Jeri L. Wright, 47, the daughter of Jeremiah Wright, was accused of participating in a fraud scheme led by a former suburban police chief and the chief´s husband that involved a $1.25 million state grant, according to the Attorney´s office for the Central District of Illinois in Springfield. Wright, of the Chicago suburb of Hazel Crest, was charged with two counts of money
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AG sues florist who refused
flowers to gay wedding
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Seattle Post-Intelligencer [WA], by Joel Connelly
Original Article
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Posted By: KarenJ1- 4/10/2013 2:28:46 PM
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State Attorney General Bob Ferguson on Tuesday filed a consumer protection lawsuit against Arlene’s Flowers & Gifts, a Richland florist that refused to supply flowers to the same-sex marriage of a longtime customer. Ferguson said he sent a March 28 letter to owner Barronelle Stutzman asking her to reconsider and supply flowers to customer Robert Ingersoll. Through an attorney, Stutzman declined to change her position.“As Attorney General, it is my job to enforce the laws of the state of Washington,” said Ferguson. “Under the Consumer Protection Act, it is unlawful to discriminate
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Sebelius: Implementing Obamacare
More ´Difficult´ Than Anticipated
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Breitbart´s Big Government, by Tony Lee
Original Article
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Posted By: Dreadnought- 4/10/2013 7:21:14 AM
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Health and Human Services (HHS) Secretary Kathleen Sebelius conceded Monday that implementing the Affordable Care Act has been more complicated and frustrating than the Obama administration expected, largely due to Republicans who have opposed the law´s state-based exchanges and Medicaid expansion. "The politics has been relentless and that continues," Sebelius said. "There was some hope that once the Supreme Court ruled in July, and then once an election occurred there would be a sense that, ´This is the law of the land, let´s get on board, let´s make this work.´"
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Student to Rand Paul: I don´t
want government to leave me alone
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Washington Examiner, by Charlie Spiering
Original Article
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Posted By: Maryland_Patriot- 4/10/2013 12:45:12 PM
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During the Q and A session after Sen. Rand Paul’s speech at Howard University, one student explained that he was not a fan of his view of government. “You say you want to provide a government that leaves us alone, quite frankly, I don’t want that,” the student said. “I want a government that is going to help me.” The student insisted that he wanted assistance for his college education and asked if Rand Paul supported a culture change within the nation. “Do you Sen. Rand Paul have a formulated solution to come up with new American values
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