The fair distribution of wealth  

Oh, and I want to remind you and everyone else reading this discussion that the original poster is not a typical small business owner. Fact is, 98% of small business owners make less than $250,000 a year.

Ok, for the sake of argument say he is not your typical business owner and he represents a small minority of business owners. You still did not answer the question posed. What do you think his fair share would be? How much of his income do you propose the government has a right to take?

Thanks for putting the URL up there Clarus

You've probably already seen this one:

http://www.youtube.com/watch?v=mg5tl87rEE4

I did not state that this was a average person as it is just an example. If you check out salary.com you will find that this is within range of those classified as owner/partner/CEO of small businesses. Most that fall into this range are involved in the employment of over 50 employees or in the medical specialist business categories. So even if it is not typical it is not some impossible tale. So back to the question you avoided. From your comment, I gather that you find him exceptionally well of so how much would you propose his fair share is? Give me a number.

If you listen to Senator Obama responce to Joe the Pl;umber he stated that it would be on businesses with receipts of $250,000 or more. For example a Car Dealer sells:
5 cars at $ 15,000 for a total of $ 75,000
5 cars at $ 20,000 for a total of $ 100,000
5 cars at $ 25,000 for a total of $ 125,000

His total sales (receipots) $ 300,000

He would have to pay higher taxes under Senator Obama Plan.

Well it looks like old Bob boy hasn't had any business experience.

So a dealer sells a car for $20,000 do you believe he will be able to deposit that amount in his personal checking account. You forget that he has to pay the car manufacturer for that car. Then he has to pay a percentage of his business overhead out of that 20k, this includes his building overhead, whether it be a mortagage payment or simply upkeep, he has to pay those who work for him a percentage of that 20k. Several years ago one of the dealers told me that the markup on a car was almost 30%, I don't know if that figure is true today. He also has to take a trade-in in most transactions. So all of his profit is ties up in the trade-in. He now has to sell the trad-in in order to get his GROSS profit out of the new car sale. Some times he has to sell 3 or 4 trade-in to get that GROSS profit. All of this takes time and there are commissions to pay his sales person.

How in the world do you believe that $20,000 that he sold that car for is pure NET profit only a percentage of the 20k is GROSS profit.

He is only taxed on the NET yearly profit that he banks in his personal account not in his business account, that has been banked over the year's business term.

My brother is the accountant for a large company in Florida. One of his most important jobs is to see how his company has dodge paying taxes. They use every deduction that they can dream up so they don't pay any taxes.

Obama will put a stop to the cheating that large businesses and corporations are getting by with to line their pockets.

Tax breaks will go to most all of the small and medium size businesses in the U.S.

This will include the three largest automobile dealers in our city and the two large farm implement dealers located here. I know these owners personally and they belong to the same Rotary organization that I do and none of them come close to netting $150,000 a year for their families. In fact the car dealers have been losing money for the last 6 months or so and their dealership lots are loaded with pickup trucks and SUVs that they are paying interest on to the manufacturers and they aren't selling, they are just sitting there.

Don't try to tell people on the site that they will be hurting by Obama's tax plan, they will probably be getting refunds.

Maybe you need to take a course in economics 101!

Now, the election will be over this coming tuesday night and it will be time for all of us to make up and quit throwing barbs at each other.

I would like to apologize if I have upset anyone here unfairly and we need to remember that we are all Americans and have only the good of our fellow man and country in mind.

I was surprised this morning as I was watching a round table discussion on ABC this morning. Even George Will stated that Obama would receive 378 electrol votes on Tuesday and there was no way that McCain could win the election. He also stated that the Democrats would gain 8 seats in the Senate and 21 seats in the House of Representatives. All five members of the round table picked Obama to win by a large margin.

I watch the ABC network to make sure that I am watching a neutral station. MSNBC seems to be slanted towards the Democrats and FOX is slanted towards the Republicans.

This will be my last comment on this board, I would like to say that it has been fun, but it hasn't. It has been very interesting though.

Regards to all and have a great week.

iriscot I would suggest that your listen to the youtube clip of the meeting between Joe and Senator Obama.
http://www.youtube.com/wa...

Listen carefully and you will hear Senator Obama clearly state the tax will be on revenue. Revenue is what comes into the business before any expenses are taken out. One of two things here: 1. Senator Obama has no idea what he is talking about and does not understand business or economics. or 2. He means to tax the gross profits of a company. This will kill business in the US.

Don't blame business for the deductions in the IRS Code. It was the government that makes the rules and the business is just trying to save money any way they can.

During the Clinton Years there was a simplified Income tax return going around. You were to place your income on the first line then turn it over to see your tax bill. On the reverse side was pay the amount on line one.

To many of the people if you make $1.00 more than the next person you can afford to pay the extra $1.00.

As you see Bob is the only one that can come close to giving you and intelligent answer and rarely expect a straight answer from Obama supporter at least at this site,they see a welfare coming in their name and they really don't mind stealing it from the hard working people of the United states,to them it SPENDS!!!
Barack Obama started out at $250,000 then it was $200.000 and Joe Biden said three days ago it is $150,000 so there you go.
Barack obama is a Muslim socialist that has mixed it up with black liberation theology,it has came the time that the rich and white race pay back,the time has came,I'm the one who will take it and not loose one second sleep beacuse it is what you need,change this is the change the United States needs,change,I'm the one,it has came time,change pay up suckers.
Bill Clinton has try to warn people he said when the stock market took them hard hits and congress worked behind closed door Obama call every one for advice including Hillary and him,he did not know what to do,oh cool,but he is the one,he wants to be president.
Joe Biden warned us and said mark my words with in six months we will be attacked,stick with us,it will look like we are doing nothing grid up your loins,Bill and Joe have sent the warning out to the people but are the people really listening,no if they are voting skin color or change.
Barack Obama's record clearly shows he voted to rise tax on people with a lousy income of $42,000 so you can't believe one word the man says.
You can take thsi to the bank because after Obama it may all you have left if he gets in to office the American people will then know what hell feels like and it will not come even close to George W. Bush days in office,mark my words!!!

Stupid... Stupid... Stupid Republican Philosopy.

Your comments won't wash!

I've been busy lately, kennyrose, but I see that you're just as stupid and uninformed as ever.

Bob you got it RIGHT. Barack Obama is a member of the New Party. It's out there in black and white. He's a member. They believe in just what you said, a "social wage" for everyone.

It's going to be too late if we get Obama as President and a Democrat Congress -- it'll be too late by the time these fools wake up and smell the coffee!
If Obama doesn't try to move us farther left, farther into socialism, I will be stunned.

Don't forget that the $250,000 Obama first talked about has just dropped to $120,000- where is it going to go next? Why should we give any of our hard earned money to people who don't want to work for their own?

Senator Obama first said $300,000 Then revised it to $250,000 and the top 5% but the top 5% is around $160,000. He is just pulling figures out of the air. More than likely it was from a focus group. Who will he be taxing? In Chicago he helped to raise teacher salary to an average of $85,000 a year for teachers. Husband and wife are very rich in the top 5% to 10% of income.

Once again there is not a single supporter of this type of tax increase that will answer the question. Apparently everyone in this country make less than $200,000 or more than $1,000,000 and there is absolutely no one in the middle. The example was an arbitrary number. Let's say instead of a small business owner, it was a cardiovascular surgeon which even in Maine (low income state) has an income range that extends beyond $400,000. If his net income fell into this range, what should he pay in taxes?

The problem is not with those who support this type of tax increase, it's with your (possible) misunderstanding of the tax codes. If you own a business as a sole proprietor and you claim all of the business profit as personal income then your taxes are going to go up...unnecessarily. There are ways to set up a business so that the personal income of the owner(s) is/are separate from the net profit of the business, offering liability and tax benefits. Even a cardiovascular surgeon, like the one who did my husband's triple bypass, is an incorporated business.

I don't pretend to have all of the answers but I do know this. Mom and Pop shop owners aren't raking in that kind of personal income, small and mid sized businesses aren't either unless they're sole proprietorships claiming net profits as income, which they shouldn't be doing. The tax increase will impact large corporations and the officers of those corporations, not struggling small business owners as John McCain would have you believe.