Obama and Taxes

$3,000 Tax Credit From Obama if you hire an employee. . .

Obama has never run a business before. It is obvious that he has never run anything when he made the statement (a few times, now) that during his presidency he will give businesses a $3,000 tax credit for hiring a new full-time worker.

In addition to the wages, there is an astronomical cost of hiring an employee. The additional cost of full-time employees, including worker’s comp, social security, health care, equipment, records, etc – – – is much more than $3,000 – – – and that is per year. Here in California that amount is often between $8,000 and $12,000 per employee, in addition to their wages.

It takes profit to hire employees. Problem is, Obama wants to take that profit and “share the wealth” by redistributing it to people who don’t work. No employer in their right mind is going to hire an employee that costs them $8K to $12K just so they can receive a $3,000 tax credit.

Who in their right mind wants to stifle success and profit during an economic downturn? Shouldn’t we be helping businesses be more successful so that more goods enter the market (which based on supply and demand will drop prices), and so that more jobs are created?

Obama, you want to give small businesses a tax break? Then lower the taxes. Help their bottom line. Encourage profit and success.

Obama is all about raising taxes. He has to. His spending plan demands it. First, if elected, Obama will allow the Bush Tax Cuts to expire (Tax increase right off the bat!!!). Then, if you die and want to leave something to your posterity, his estate tax (death tax) will make it so that the legacy you wished to leave behind will have to be sold by your children so that they can pay the taxes on it. Of course, your retirement money won’t help either. Obama’s capital gains tax will eat up a large chunk of that. Then he plans to increase the taxes of the most successful corporations. To cover that cost the companies will then raise prices and let go of employees. Yeah, Barry, great idea during an economic downturn.

He says you grow an economy from the bottom up.

The bottom has nothing to offer. It is the top that creates jobs and moves products. Then, when that happens, the bottom can benefit from it with a job, and goods to buy.

Damn, Obama is one backwards son of a. . .

Published in: on October 17, 2008 at 2:55 am  Leave a Comment  

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