[StBernard] Major Shift In Tax Burdens Possible Under Obama

Westley Annis Westley at da-parish.com
Fri Nov 7 12:53:57 EST 2008


Penny,

I am no economist myself, but I am a self employed person. I do not get
money withheld from my employer because I am my own employer, thus I have to
write a check to the IRS every quarter. I also have to write a check for a
self employment tax. Your employer is writing a check for your withheld
money to the IRS and also paying payroll taxes for you that you do not see.
It is your employers tax to pay. If your employer's taxes go up because his
company makes more than $250,000 or less according to the numbers being
stated by Biden, he will not be able to afford to hire or keep as many
employees and you could lose your job. That is how higher taxes on small
business affects unemployment and job creation. In your situation it seems
you are in a tax bracket that you will just be allowed to keep more of your
own money. That is good for you. As I understand the Obama plan,
redistribution of wealth comes into play when a company or person that makes
over $250,000 is taxed at a higher rate, and a person who does not pay any
tax gets a tax rebate check. A person that files their tax return and gets
more money back than was with held from him is having money given to him
that is not his. People that make so little that they are not required to
file a tax return will get a tax refund check. That is the problem. How
can a person that has not paid any tax, get a tax refund check? That is not
tax relief. That is redistribution of wealth. This is how I understand
Obama's plan. I am no expert on taxes. Maybe there is an accountant that
knows more about this that can chime in.

Laurie





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