Comments on: Question for You

By: Mitchell

Mitchell — Fri, 24 Oct 2008 18:41:53 +0000

40% is max pain for me.

I would very much like to see the country get rid of the current tax system and going to a split tax system:

1. Flat tax rate at 12.5% with the only deduction being charitable contributions

2. A national sales tax of 2.5%.

3. A corporate tax rate of 12.5%.

4. A capital gains tax of 12.5%.

This puts everything on the same playing field and I would think that it would actually propel the country forward and never look back. This would actually allow people to work as much as it would to play the market, because there would be more take home pay.

By: Donna

Donna — Fri, 24 Oct 2008 18:09:38 +0000

Personally, I have already turned down promotions because all it would do is up my taxes and take more time away from my family. I work to live, not live to work. If Obama raises my top tax rate, I’m thinking of downsizing my inclome in order to be on the receiving end of those handouts…

By: J Click

J Click — Fri, 24 Oct 2008 17:40:23 +0000

Personally, I was raised with a strong work ethic and will always work hard……. the point of balance I try to bring to life is quality of life and enjoyment of life and family. If I am busting my hump so the government can take it away and give it to someone “less than motivated” then that is unacceptable. The government has forgotten what “freedom” means because they continually want to enslave people to entitlement programs thereby holding them in bondage to the handout from the government and never letting them experience the joy, independence, and true freedom of knowing they can make it on their own and do not need governement to solve their every problem.

By: Al

Al — Fri, 24 Oct 2008 16:16:28 +0000

I think under an Obama presidency, we’re more likely to see “representation without taxation,” since Mickey and Minnie and ACORN and all his friends are given an opportunity to vote, yet pay no tax. Under his plan, 49% of Americans who will pay no tax will be able to receive proceeds (refundable tax credits) from those who do, and will each get a chance to vote 76 times to boot! Great deal until the money runs out.

By: Peter

Peter — Fri, 24 Oct 2008 15:15:42 +0000

I’m a business owner as well.

90% of all businesses fail in the first year, so if your lucky and WORK REAL HARD/TAKE A HECK OF ALOT OF RISK and survive the numbers, then you get to look forward to lawyers trying to take your money (in our lawsuit happy society), higher tax bills, and keeping the returns above the inflation rate.

We basically take a heck of alot of risk to start up a company, and then those risks just keep coming. Where is the incentive anymore to start a business in the US? No wonder outsourcing jobs to other countries seems very attractive. I just have basically been an idiot with my idiotic mid-west values. I believed in working hard, increasing my value proposition for the clients I serve, improving the smarts and wisdom of myself and my employees, solving real market problems and servicing needs, and hiring American.

Make my day, increase my taxes even more, and I will be forced to cut back on revenue & employees and spend more time with the family instead of trying to solve problems and service needs in the marketplace. Actually, this seems attractive to me. My family deserves time with their husband/father as oppossed to me working for nothing for the majority of months in the year.

By: Al

Al — Fri, 24 Oct 2008 15:13:57 +0000

I own my own tax consulting firm (ironically), and currently employ four professionals, each with families. I pay my people very well and of course, that trickles down to their families’ quality of life. However, managing the practice takes a lot of my time. So far, it’s worth it because I still am able to retain more than I give to the federal and state government. Under Obama’s plan, that prospect would rapidly reverse course. I would say that, at the point where I give over 50% of my earnings to government, I’d probably just downsize and work on my own. My guys are talented and would find jobs, but probably wouldn’t get paid as well as I’m paying them right now.

By: Grant

Grant — Fri, 24 Oct 2008 15:07:15 +0000

Cash economy! It is a fact that when taxes are raised the citizens come up with creative ways to avoid the tax. I think the Barter System might make a comeback in the near future if this wasteful spending continues.

By: David in Sarasota

David in Sarasota — Fri, 24 Oct 2008 14:49:50 +0000

I’m already past that point, I am doing everything I can to by pass any tax I don’t care what it is. I’m even talking to my employeer about paying me in cash so I can hide as much as possible.

I think it is HIGH TIME we went back to the Declaration of Independence and start over with the ORIGINAL CONSTITUTION OF THE UNITED STATES OF AMERICA!!!

Lock and load…

By: Steve

Steve — Fri, 24 Oct 2008 14:46:58 +0000

I wish I had the knowledge to figure out what the tax rate would be if the idiots from the local, state and federal governments did not WASTE tax dollars. My guess is that we would actually have a balanced budget and a much lower tax burdeon.

There would be no desire for a socialist government to redistribute the wealth because without wasteful spending more people would have more money.

By: s.r.b.

s.r.b. — Fri, 24 Oct 2008 14:25:33 +0000

We all need to take another look at the Fair tax (flat tax)! If we did, this conversation would not even be happening! We all would want to keep working and putting in more hours to get ahead because we would get to keep 100% of what we make and WE would get to decide how to spend it instead of giving it to our wasteful government and letting them make that decision for us. I don’t understand why more Americans don’t get behind this plan and support it.