KKmama
November 8, 2017, 3:52pm
81
@JHS
No… corporations are better than people, at least per the new tax plan.
Corporations give people jobs, and the more jobs that are created, the better things are for everyone.
i have a small business, don’t need a corporate job. Corporations are doing their best to make people the garmet factory workers of our day. Lowest pay and benefits they can get away with. More Walmart jobs don’t help us.
It looks like small businesses will benefit too:
http://thehill.com/opinion/finance/358786-trump-hands-american-small-businesses-and-workers-a-win
The bill calls for a new 25 percent top marginal small business tax rate, down from the current 39.6 percent rate on successful businesses. This reform will allow millions of American manufacturers, retailers, and other small businesses to keep more of their earnings necessary to compete with their big business and international competitors. It will also help keep them located here in the United States.
There are caveats to the new 25 percent rate. First, only 30 percent of qualifying earnings can be considered business income and subject to this new rate. The other 70 percent will be considered wage income and will be taxed at the new individual tax rates. By the way, the current 39.6 percent rate on America’s small businesses is one of the highest in the world. Most other nations already provide a lower tax rate for the small entrepreneurial firms.
Remember, small business owners pay their taxes through the individual tax code. This means they will save from many features of the tax plan, such as the doubling of the standard deduction and the lower rates across the income spectrum. These two provisions alone will save ordinary small businesses thousands of dollars a year in taxes that can be reinvested back into their businesses, employees, and communities.
Small businesses that earn more will benefit from the elimination of the 28 percent and 33 percent tax brackets as well as the higher income thresholds on the 25 percent and 39.6 percent tax brackets. For instance, the 25 percent rate will apply to family earnings up to $260,000. The cap is currently at $153,000. These better capitalized small businesses, which are often pillars of their communities, could save tens of thousands of dollars a year, reinvigorating Main Streets across the country.
Considering that his own statements and actions (e.g. textbook definition of a racist comment, very fine people, Arpaio) are the smear propaganda against himself, no surprise.
Not my small business. Service pass thru, and my current rate isn’t high enough to benefit from a reduction to 25%. So no gravy for me! But I don’t think I need it anyway. And neither do bigger businesses. We need LESS income inequality in this country, not more.
Votes are in. Closing thread.