- Saving the Sea Turtles...But at What Cost? (PRA Site »)
- Craig Miller Signs Taxpayer Protection Pledge in FL-24
- Next Week is Sunshine Week! (CFA Site »)
- The Economics of #StimulusFail
- Missouri Unions and Andy Stern on the Same Page: Raise Taxes (AWF Site »)
- Obamacare, Free Trade, & Our Economic Prosperity
Friday, March 12, 2010
- Rusty Bowers Signs the Taxpayer Protection Pledge for AZ-01 Race
- Ask Your Virginia Legislator to Vote "NO" on Any Budget Containing Higher Taxes
-
ATR Supports H.R. 4781, the
"Keeping American Businesses
Competitive Act of 2010" - Stimulus Dollars Are Taking You for A Ride - On Greyhound Buses (CFA Site »)
- Ronald Reagan Legacy Project Urges Naming of California High School After Reagan
- Democrats Attempt to Subvert Congress in Hopes of Carbon Regulation
- Economic Issues Dominate at the Bloggers Briefing
- Pushback Against EPA’s Attempts to Regulate Carbon Emissions Grows
- Minnesota Gubernatorial Candidate Running on a Platform of Tax Hikes
Thursday, March 11, 2010
- Michigan Jobs Ain't What They Used To Be...Unless You Work For The Government
- ATR and CFA Support Earmark Moratorium
- CFA Supports Earmark Moratorium (CFA Site »)
- Voter Fraud in the Name of Tax Hikes
- Ballooning Deficits in Greece Foreshadowing Future for the U.S.? (ASA Site »)
- Green Jobs FAIL
- The Evergreen Tax and Fee Spree
- Pelosi: "But we have to pass the bill so that you can find out what is in it" (CFA Site »)
- ATR Staffer Testifies Before U.S. House Energy & Commerce Select Committee
Wednesday, March 10, 2010
- The endemic rot in government run health care
- Senate Unanimously Passes Coburn PAYGO Transparency Amendment (CFA Site »)
- The Debt Panel's 800-lb. Gorilla: Why Andy Stern Stands Out
- The Left Agree: Obamacare Ushers In Their Radical Ideological Agenda
- We Ought Focus On Cutting Taxes & Spending, Not Deficits
- The Debt Panel's 800-lb. Gorilla (AWF Site »)
-
Does the Obamacare Investment Surtax
Apply to Capital Gains? - ATR Urges Opposition to Sen. Isakson Pension Bailout
- Taxpayers to Legislators: Clean Virginia Budget of Taxes
- ATR Supports the Georgia JOBS Act
Tuesday, March 9, 2010
- ATR Urges Utah Governor Herbert to Veto Tax Increase
- More on the VAT
- Public Sector Jobs
- How 550,000 jobs were destroyed by the minimum wage hike
- How Obamacare Will Hurt Poor Women & Children Most
- Federal Workers Make $11,000 More Than Private Sector Workers, and There’s More of Them (AWF Site »)
Monday, March 8, 2010
- Legislation Introduced to Put Ronald Reagan on the $50 Bill
- Pledge Signer Wins Illinois Republican Gubernatorial Primary
- "Net Neutrality" To Kill Jobs
- NY Supreme Court Votes to Evict Residents and Close Businesses (PRA Site »)
- California US Senate Candidates Square Off in First Debate
Friday, March 5, 2010
- ATR and CFA Support the Spending Limit Amendment
- Utah Representative Breaks Tax Pledge
- AWF Will Rate Vote on House Jobs Bill (AWF Site »)
- Energy Tax Hike Series: Use it or Lose it Tax
Thursday, March 4, 2010
- The reliability of spending "estimates"
- Utah State Senator Tries to Sweeten Tax Hike with Pork
- Obama Administration Makes Attempt to Seize Millions of Acres Across America (PRA Site »)
- More "Stimulus" Boondoggles - Social Engineering and Lobbying for Higher Taxes
- Energy Tax Hike Series: Raises Taxes on Tertiary Injectants
Wednesday, March 3, 2010
- Is This Reality or a Science Fiction Dystopia?
- Andy Stern Update: US Attorney Reviewing Case & Obama Appoints Stern to Debt Panel
- Texans: Do You Know Which Candidates Have Signed the Taxpayer Protection Pledge?
- AWF Asks White House to Take Position on Andy Stern Investigation After Appointment to Debt Panel (AWF Site »)
- AWF Continues Andy Stern Investigation (AWF Site »)
Tuesday, March 2, 2010
- Energy Tax Hike Series: Superfund Tax Reinstated
Monday, March 1, 2010
- Rick Berg First Pledge Signer in North Dakota Congressional Race
Friday, February 26, 2010
The Obama Budget
From Michelle Fields on Friday, February 5, 2010 5:42 PMPresident Obama is touting all the advantages his budget has for small businesses. In particular, he's talking about using TARP funding (supposedly temporary, to be paid back to taxpayers) for small business lending.
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Tax
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Rate
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Federal Income
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39.6%
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State Income
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5.0%
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Self Employment
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2.9%
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SE Deduction
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(0.65%)
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PEP and Pease
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2.34%
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Total
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49.19%
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Permalink | Email | Print | Tags: TAXES, OBAMA, BUDGET, Federal
Related Articles
ATR Urges Governor McDonnell to Sign Bill to Abolish State Run Tax Preparation - Friday, March 12, 2010 4:00 PM
Craig Miller Signs Taxpayer Protection Pledge in FL-24 - Friday, March 12, 2010 2:42 PM
The Economics of #StimulusFail - Friday, March 12, 2010 12:15 PM
Rusty Bowers Signs the Taxpayer Protection Pledge for AZ-01 Race - Thursday, March 11, 2010 5:46 PM
ATR Supports H.R. 4781, the
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Comments
You guys conflate this all the time. When something is a *profit* in a small business then, by definition, it was NOT spent on employee salaries. You make it sound like *gross income* is being taxed; it's net income, or profits. So, raising the marginal tax rate on individuals who happen to own a small business and show a K-1 profit of over $192k or more cannot possibly threaten jobs; that's money they didn't spend on jobs in the first place. Indeed, if people were ATR-style lemmings as you suggest, they might *create* jobs in order to lower their end-of-year K-1 profits and, thus, avoid the 4% marginal tax increase.
>> Todd Stauffer Saturday, February 6, 2010 6:39 PM
And your top marginal rate (49.19%) kicks in on income OVER $375,700 on someone's individual or joint taxes; if we're talking "small business profits" then those are folks who are (a.) pretty comfortable and might want to chip in a little more for the General Welfare and Common Defense and (b.) might want to change their corporate structure from an S-Corp or sole proprietorship. Finally, "non-partisan" ATR seems to have missed an opportunity to mention of the *decrease* from 33% to 28% for folks making 172k - 192k single or 210-233k jointly. Very interesting oversight.
>> Todd Stauffer Saturday, February 6, 2010 8:38 PM
You might also want to learn how to "reckon" a little better. State and Local income taxes are deductible if you itemize (as most small business owners are almost bound to do.) That means you do not add the 5% state income tax rate to the 39.6% federal income tax rate in your example. Shouldn't you know that?? If you don't know such a basic fact about taxes, why are you advising anyone about anything?
>> Richard R. Wednesday, February 10, 2010 11:31 PM