Monday, September 19, 2011

Obama's Millionaire Tax Rate - #3256 - VIDEO: 'Class Warfare' - GOP Slams Proposed Obama Millionaire Tax Rate - The Blaze (2) Business Killing Obama is No Candyman - American Thinker


'Class Warfare' - GOP Slams Proposed Obama Millionaire Tax Rate - The Blaze - Video - Fox News - Top Republicans came out forcefully against President Barack Obama’s proposed “Buffett Rule” millionaire tax rate Sunday, calling it “class warfare” and welcoming billionaire Warren Buffett to “send in a check” if he’s feeling guilty about his tax rate.  Rep. Paul Ryan (R-Wis.), the chair of the House Budget Committee and author of the GOP budget, said Obama’s plan would add “further instability to our system more uncertainty and it punishes job creation and those people who create jobs.”  “Class warfare may make for really good politics but it makes for rotten economics,“ Ryan said on ”Fox News Sunday. Ryan said Obama’s proposal, which would tax those who make more than $1 million at the same rate as middle-income earners, will undermine economic growth.  “If you tax something more, you get less of it,” Ryan said. ”If you tax job creators more, you get less job creation. If you tax their investment more, you get less investment.”  Read more........

Business Killing Obama is No Candyman - American Thinker - In New Deal or Raw Deal, Burton Folsom, Jr. explains that an atmosphere of regime uncertainty kept businesses wary of President Franklin D. Roosevelt's New Deal policies. Today, under President Obama, the economy is suffering similarly due to the understandable hesitation of companies to expand. The two presidents share certain behavioral and policy similarities: incessantly admonishing businesses for being successful, taxing companies excessively, and goring industry with regulations, thus creating widespread uncertainty and depressed economies. Even at the level of a small business, such uncertainty affects major business decisions.  In our small business, my wife and I buy ingredients, then make and sell candy. Payments received from customers (gross income) are used to pay fixed and variable costs. The fixed costs include loan and credit repayment, rent, and utilities. Variable costs include labor, taxes, ingredients, and packaging. After these costs are removed from gross income, the remainder is profit, or net income.  Since we are a specialty food manufacturer and retailer, the majority of our gross income is obtained around various holidays, especially during the Christmas season. We transact 75 percent of our business in the last quarter of each year, relying heavily on corporations sending our products as gifts to clients and customers.  Read more.......

No comments:

Post a Comment