Yay! Let's all help the small businesses!! I have an idea to help them. Let's stop taxing the lives out of them. Let's stop making them pay outrageous unemployment. Let's stop making them pay Medicare, social security, and all the thousands of dollars they pay in taxes.
That'd help them a whole lot more than this. Believe me.
My dad is the owner of a small business. It was started just this last year (2008). He now owes over $10,000 in taxes. He didn't even make a profit on the business. They own all their own vehicles. And they owe the government, which thinks it owns the business.
You know how much unemployment tax the company has to pay? $28,000 a year. Yeah. $7,000 a quarter. If that isn't just disgusting, I don't know what is.
Businesses have to pay per employee for medicare and social security. Lest that sound not so bad, let me clarify. The employees themselves pay about $100 per week from their paychecks for these two costs. Then, the employer must match that money. For instance, if a business has seven employees, then the employer/company must pay $700 per week, including the other $700 that is being taxed from the employees themselves. That's $1,400 each week per business the government is raking in.
Not outraged yet? Let us continue.
The capital gains tax is a tax on the profit a company makes. But even companies that haven't made a profit have to pay the 'capital gains' tax. These are the taxes President Obama is seeking to raise. Yeah, that's a great idea!
So, in closing: what is the point of so many taxes? Apparently, the government is trying to dig itself out of a trillions-deep hole...and not getting anywhere, despite the many taxes they charge. Want to know why? They keep borrowing. And investing in stupid programs that don't do anything anyway.
Sometimes politics disgust me.