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Why is it hard to understand that Business netting 250 grand and paying federa tax+state is not "Rich"?

Corporate Income Tax Rates

Taxable income over Not over Tax rate

$ 0 $ 50,000 15%

50,000 75,000 25%

75,000 100,000 34%

100,000 335,000 39%

335,000 10,000,000 34%

10,000,000 15,000,000 35%

15,000,000 18,333,333 38%

18,333,333 .......... 35%

So, what's wrong with this picture. This is extortionistic and it penalizes those who make more money as if they should enjoy what they earned by hard work less. How brainwashed do people have to be to think this will encourage businesses in the United States?

Update 2:

I didn't say you did pay taxes on net profit.??? Just answer the question

11 Answers

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  • 10 years ago
    Favorite Answer

    Especially if you are paying high taxes already. Notice how they only look at Gross pay rather than looking at net pay. So if you are paying 150 thousand in expenses your take home pay is only 100 thousand. After paying your employees you are lucky to even bring a check home if at all. Does Obama and the demonrats look at this?

    Hell no.

  • 10 years ago

    The CUT-OFF point is set at $250,000, but this is where the negotations are supposed to begin. This bottom-line point can be raised or left alone or even lowered (although not likely on the latter) during the House and Senate debates. The taxes paid are used to provide or maintain the highways, roadways, bridges and tunnels, mass transit, and other amenities that these small businesses (and the larger wealthier ones) use to make their income or market their goods. Don't forget the various tax loopholes, and also the various CONCESSIONS set up in President Obama's series of JOBS BILLS that finally got past the inexcusable Mitch McConnell (R-KY) fillibusters (see whitehouse.gov and recovery.gov for details on these concessions and hiring incentives).

    Companies who make the most money (sometimes BILLIONS and even TRILLIONS) making use of our taxpayer-funded infrastructure and services should pay more in taxes. Simple. Greed should not be the deciding factor here---"Ask not what your country can do for you; ask what you can do for your country" should be the rule.

  • Anonymous
    5 years ago

    The 16th Amendment says that taxes are to be paid by the corporations and that it is voluntary for the citizens SO ... we should not pay taxes either way. I haven't paid taxes per se since 1997 anyway. One must make money is order to pay taxes. But you're right, gay people have a legit beef. Peace

  • 10 years ago

    a business that nets $250K a year is a small business, which would have been exempted from tax hikes on the wealthy.

    The 250K income is based only on INDIVIDUAL INCOME with no dependents.

    Do you people not pay attention or what?

    you do know the difference between individual income and business revenue right?

    and if that individual is married with dependents the amount considered "rich goes up.

    Source(s): "if you are paying 150 thousand in expenses your take home pay is only 100 thousand. " Since when did Itemization stop?
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  • Bill
    Lv 7
    10 years ago

    your right, our tax system surely puts a damper on those trying to get ahead. I still think we have more of a spending problem than a taxing problem. if everyone just paid about 7% of what they earned we would have plenty of money, as long as the govt didn't give it away like the do now.

  • ?
    Lv 7
    10 years ago

    You don't pay taxes on net income only on net profit.

  • 10 years ago

    Vito gave your perfect answer. This is EXACTLY the impression these people are laboring under. And even if what Vito said is true, it's the AMERICAN DREAM. We should not be punishing people for striving toward it. Period.

  • 10 years ago

    Class envy and tax the rich is what liberals use to brainwash everybody into being taxed more themselves and not even realize it.

  • ?
    Lv 7
    10 years ago

    I agree. After state, federal and local taxes, $250K becomes upper middle class.

  • Anonymous
    10 years ago

    I thought y'all were for living within your means.

    Figure your taxes BEFORE you decide what your means are, and you won't have a problem.

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