As the owner of a small business I've got to say after watching the news this morning, people really don't seem to understand how this works.
Joe the plumber may buy a business that brings in $250k per year, but that doesn't mean Joe himself will be making 250k a year. Out of that 250k comes your operating cost, things like vehicles, equipment, taxes (both business and personal), licenses, liability insurance, employees pay, HALF of his employees Social Security tax, ALL of HIS own Social Security tax, etc, the list goes on and on.
The truth of the matter is that when politicians are out there talking about small business in general they usually mean those shops that are in the 50 to 250 employee range, the shops like Joe the Plumber and me that employee 2 to 5 people aren't even on their radars.
The truth is that if you're a business grossing around $250 grand a year, once you get done paying all the fees, deducting all of your material and overhead, pay your employees, pay your accountant, pay your taxes, and finally yourself you'll be lucky if you can clear $40k per year, and that's YOUR GROSS PAY. You'll still have to pay your personal income taxes out of that, and you'll have to pay BOTH the regular employee share of Social Security tax PLUS he'll find, he has to pay the employer share of the S.S. tax. They call that self employment tax.
So if Joe the Plumber has a good year and makes that big 250k gross for his tax return, he's going to find out that in the end, depending on his personal deductions, ol' Joe might get to keep anywhere from 20k to 30k for himself, and that's if and only if he's managed it very tightly.
So Joe, here's to you and all the other men and women out there that think they're going up into a higher tax bracket simply by being in business. When your company makes 250k, that doesn't mean you're going to keep anywhere near that.
So Joe, if you've got big dreams about big money by buying a business that makes 250k per year, don't worry who you vote for, you're going to get hosed by a lot more people than the president, and you probably would end up better off under Obama with your tax situation, especially the first year.
Showing posts with label obama. Show all posts
Showing posts with label obama. Show all posts
Thursday, October 16, 2008
McSame Debates Himself on Bush
Last night during the final debate John McCain told Barack Obama if he wanted to run against Bush he should've done it four years ago.....we beg to differ.....
Monday, October 13, 2008
Employee Free Choice Act NOW!!!
http://freechoiceact.org/petition/
Now is the time for all good men and women to come to the aid of their country, their lives, their futures.......
You remember how good we had it here in America...
Back before the days when corporations were on welfare (and acting like crackheads getting pedicures at palatial California spas on our dime)
Back before our jobs were auctioned off to the lowest communist or 3rd world bidder...
Back when a young man or lady could come out of school and actually find an entry level position with a company that had a real potential of turning into a career......
Sign this petition, demand better treatment, better conditions and better pay.
We are the American worker. We built this country, we made the CEO a billionaire, we paid our dues, now it's their turn to sacrifice a little for the good of the common cause....They'll still be rich even if they pay you what you're worth.
Sign the petition,
http://freechoiceact.org/petition/
They're going to keep on screwing you if you don't take control of your life now.
Sitting around waiting on the boss to do the right thing or playing politics isn't the way either, so how did Dad and Mom do it back in the 50's and 60's? How did they ensure for themselves and their families a living wage? Healthcare? Retirement?
They formed a union when the boss wouldn't treat them fairly. They did the same thing our grandparents did in the 30's and 40's. Unions made the middle class a reality and gave you and me and upbringing that would NEVER have been possible just a few years before.
But here we are in 2008. We find our jobs farmed off to communist and 3rd world countries. We've been put in direct competition with men and women earning 15 to 50 CENTS PER HOUR.
Our largest banks and corporations are on public welfare yet these barons that have gotten us into this mess still refuses to work with us. The ones that made them rich in the first place.
FUCK THAT!
Take your life in hand, demand a contract, demand justification for being fired, demand an end to the brown noser style politicking that's been the norm for so long.
It's character, not the size of the wallet or the biggest nose stain that should count in the workplace.
Be a hero to your family, be a leader to your children.
Take America back for them.
Sitting around waiting on the boss to do the right thing or playing politics isn't the way either, so how did Dad and Mom do it back in the 50's and 60's? How did they ensure for themselves and their families a living wage? Healthcare? Retirement?
They formed a union when the boss wouldn't treat them fairly. They did the same thing our grandparents did in the 30's and 40's. Unions made the middle class a reality and gave you and me and upbringing that would NEVER have been possible just a few years before.
But here we are in 2008. We find our jobs farmed off to communist and 3rd world countries. We've been put in direct competition with men and women earning 15 to 50 CENTS PER HOUR.
Our largest banks and corporations are on public welfare yet these barons that have gotten us into this mess still refuses to work with us. The ones that made them rich in the first place.
FUCK THAT!
Take your life in hand, demand a contract, demand justification for being fired, demand an end to the brown noser style politicking that's been the norm for so long.
It's character, not the size of the wallet or the biggest nose stain that should count in the workplace.
Be a hero to your family, be a leader to your children.
Take America back for them.
Labels:
congress,
employee free choice,
mcsame,
obama,
union
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