[StBernard] Major Shift In Tax Burdens Possible Under Obama

[Westley Annis]

Thank you Laurie, for responding and reminding me of the whole process.  I
still don't understand why small businesses should be lumped in with the
gazillion dollar multinational corporations.  I know how hard it is for
small businesses to survive not to mention grow and get ahead.  I remember
President Reagan's trickle-down economic practices back in the 80's.
Somehow citizens and small businesses were supposed to benefit by the huge
tax breaks and protections given to mega corporations.  I never remember
either myself or our region in general being "trickled" on.  I remember
times being pretty tough for Da Parish during those years of trickle down
economics.  Those are the years that I, as well as many others, had to leave
the area to find work elsewhere.  I guess I just don't see small businesses
in the same catagory as those mega corporations.
Penny


	-----------------------------------------------------
	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