Obama and McCain in a Town Hall Debate: Some Small-Business Questions

LInda Bainton's of RI's comment

Well, I 100% agree. I was an Obama supporter until I investigated further. IF he means small buisnesses would be taxed at a rate upwards of 60% for GROSSING 250K that is going to hit ALOT of small buisnesses!!! My husband is a small buisness owner but has so much overhead that even though the company grosses over 250K we as a family make much less than that amount, if his buisness had to pay taxes in that high tax bracket he would be forced to shut down. That is not going to help small buisness. Does anyone know if this is his plan on the gross amount????

Jessica of NY @ Oct 12, 2008 22:17:47 PM

Obama's tax plan and small businesses

You guys know how taxes work so stop with the BS. Taxes are applied to profits not gross receipts. If a small business owner makes $300,000, the tax increase would apply to the $50,000 above $250,000. Assuming the tax increase is 10%, this would mean a tax increase of $5,000. Not a big deal and not a show stopper for this guy. With a good tax consultant, the owner could sink a few thousand into facility upgrades and add solar collectors to the roof, thereby lowering his tax liability.

Andy of CA @ Oct 08, 2008 12:14:24 PM

My father is part owner of a small business and they make more than 1 million a year in revenues. Obama's remark of $250,000 was GREATLY out of touch. He says he wants to cut the middle class but he needs to identify what middle class is to make that claim.

Steve of MI @ Oct 08, 2008 11:29:56 AM

McCain needs to shut up

I was waiting to see this debate since they both voted in favor of the bailout(recsue) plan McCain has proved that he is a lier and I will not listen to another word he says "he wont sign another bill with pork barrel spending" ya right you just sign one that was filled with $140 billion of them if I was him I would have left the debate fast to its kind of hard to face up to people when you lie to them give it up old boy

I am not decided about Obama though I think if he really wanted to show that he cared about middle class america (if there is one left) he would not have signed that bill he should have writtin his own up to show us he is ready to be President The right bill would have distruted funds to state local banks I mean thats where we go to get our loans right? also our stimuls checks should have been for $6000 instead of $600 and most americans would be out of dept and the banks would be begging us to take loans and we could say no instead of them

cami deelstra of SD @ Oct 08, 2008 01:11:39 AM

Fannie Mae Crooks Will Avoid Prison

Obama Would Appoint One Of The Crooks Responsible For The Fannie Mae Mess As Attorney General, Effectively Guaranteeing That NONE of the Crooks Would Go To Jail. Signed Sealed And Delivered.

http://www.wnd.com/index.php?pageId=67068

GeraldD of AL @ Oct 07, 2008 23:22:16 PM

small business

senator Obama What is your defination of small business? When you say $250,000 dollars a year are you also referring to a business gross of more than $250,000 a year. As owners of a small manufacturing company employing 12 people trying to make ends meet, making much less than the the $250,000 (even with combined incomes) and rarely taking any bonuses. We provide health care and can just about make premiuns each month. We try to give bonuses at end of year, give yearly raises, keep up with technology and try to tighten our belts, even more in this economy. You said in the debate tonight "businesses nmaking more than $250,000. Please clarify I can't believe you mean the gross margin. That would imply a very small business with less than 3 people. Do you want to tax business with a gross over #250,000? I want to know what you will do to help small business and manufacturing companies in this country. We need the depreciation on equipment and whatever tax right offs and aid we can get to survive and thrive. I have people with families who own homes and have chikdren. They work with us, but it is hard and stressful to grow and thrive. A tax cut for healthcare payments made by those companies who care would be a welcome relief. Although in most cases by the end of the year with the cost of keeping up with technology. equipment, repairs on equipment etc we usually do not have much profit (and it's legitimate). Leaves little for a rainy day. We are responsible people who have been in business for over 28 years. We small businesses want to hear more about what you will do to support small business owners. After all there is not much manufacturing left in this country and China and Canada have not helped us. WE are main street America and are worried about the future of small business in this country. We are feeling the trickling down of the financial debacle in this country. So please talk more about small business and be clear on how you stand on our future. There is no bail out for us if we fail. Many of us care and many of us are responsible and assume accountability for our actions. So please talk to and define what you maean. Do you mean personally and businesses as a whole?/Sorry to be so wordy.

Thank-you

thank-you

Linda Bainton of RI @ Oct 07, 2008 22:41:52 PM

economy

and if you thought the bail out was a gloomy figure...take a look at Obamas 875 BILLION dollar World Poverty bill, to be paid out in completion by 2015. How about his energy proposal? Charge for all pollution credits, rather than allocating some and letting companies bargain with each other for additional? This means the average American can expect to pay an additional $728 dollars a year in energy bills. Elect Obama indeed.

Jerod of OR @ Oct 07, 2008 22:26:24 PM