Every One Loves Santa Clause
After the Presidential debate last night. Many rubes are saying Obama won on the economy part of the debate. I ask how? Well he understands the economy better is the typical wrong answer. Others just because no matter what the truth or the situation will never vote common sense but use their absolute hate to vote anti Bush, (unfortunately he is not running again dummies).
So how did Obama win on the economy? No one can give a clear defined answer. This is because there is no defined answer per say. What Obama has done is play Santa Clause. I will give you this. I will give you that. This is not an economic plan but a new set of welfare give-a-ways, that will enslave the tax payer even further to government.
Obama claims he will lower taxes on 95% of the people while increasing the taxes on the top 5%. Hey, news flash. IRS stats show that the top 5% pay over 50% of the collected taxes as is. Now he will have to raise this to a staggering 80% to 90% of the tax collected paid for by only 5% of the tax payer base. Is this a fair taxation? EMPHATICALLY NO!!!!!
You want to see how fast loopholes are exploited? Then let Obama do this and watch federal revenue fall faster then rocks on water. See what most people do not understand is the way the tax code is set up now. If you are paid, you are taxed. If you form an LLC and have the LLC pay you a stipend, then have the LLC provide expenditure accounts. you do not pay but a fourth of the taxes normally you would. This is how the jet set of liberals get by on it. Their problem is they push the envelope and abuse it. This brings IRS accountants to look deep into your books.
The LLC owns your house, your car, your jet plane, just about everything. You get a salary at a reduced rate lowering your personal tax rate. The LLC has provided an expense account for you and all is right with the world. (WE NEED A FLAT TAX RATE) Thus loophole 101.
The top 5% paying taxes now are very adept at loopholes. So if Obama raise their burden even higher. Just watch how fast they exploit even more loopholes.
Now for all those small business owners who think voting democrat is going to save them. HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA, HA!!!!!!!!!!!
What you are over looking is this. Your small business is considered rich. You are considered rich. Unless you pay yourself a salary and hide in loopholes 101 you are going to see your tax burden grow and grow. Your small business makes more then $250,000.00 a year. Remember Obamas definition of rich starts at that number. Unfortunately you have not the ability to hire an accountant who is wise to loophole 101 and can help you out so you will struggle with an increase in taxes. Not to mention payroll because you are now paying an absurd minimum wage. (minimum wages are not to be a living wage but an entry level wage that gets ones foot in the door and started)
Obama's tax scheme sounds good and promises gifts like Santa Clause. Yet it will be more like waking up and finding the Grinch has been to Whoville. It will sink the economy and this country.