Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

dam
Lv 5
dam asked in Politics & GovernmentElections · 1 decade ago

How long will I last under Obama?

If I run a small business and gross 300,000 a year with 5 employees and a 5% margin, how many years will it be before I will have to close my business?

Update:

I forgot to mention that I am self employed so the 300 k sets my tax base.

16 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    You better last a long time, a lot of people depend on your hard earned taxes. Hey you got an education, you work hard 40+ hours a week, you need to spread the wealth. There are welfare recipients out there depending on you. Please don't go out to business.

  • Anonymous
    1 decade ago

    Why wait. Sell your business now and stash all the cash. Then Under Obama you will be handed bunches of money. Welfare, free health care, free college etc... In fact the guy who bought your business will be glad to pay extra taxes so you can sit home and enjoy your life.

  • Sarah
    Lv 7
    1 decade ago

    You will pay less than 12 dollars more than what you are paying now in taxes. Further, you will be offered incentives for new employees AND you will have the option--with no penalty either way--to give your employees access to healthcare at 50% of the cost.

  • 1 decade ago

    If you gross $300,000 a year, you will prosper because your taxes will be lower. The higher taxes only come when you NET over $250,000 a year. By time your business builds up to that, we'll be in another electon cycle.

  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    1 decade ago

    It depends. Are you in the business of printing McCain/Palin bumper stickers?

    Is your business better off than it was 8 years ago?

  • 1 decade ago

    Not long. Just think. Obama says your rich and can afford it. So Congrats!!! You will have to cut a employee at first and try to get by. Maybe 2 years. Sorry.

    Source(s): .
  • 1 decade ago

    Oi. Unfortunately you're at the lower end of the spectrum. You will probably last for 4 years, but I don't think you'll expand.

  • 1 decade ago

    If you know what you are doing, you will prosper...

    ...if you don't understand the concept of business you will fail, as is deserved.

  • Anonymous
    1 decade ago

    I give you 3 months till you live under a bridge

  • bubba
    Lv 4
    1 decade ago

    just let the govt take care of you...they know best anyways

Still have questions? Get your answers by asking now.