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Another proposed tax hike?

How long do we actually think the higher tax bracket folks will put up with this before they just start to lay low and put their money into assets? And even though they say it's a tax hike on those earning more than $250,000 / yr., how long until trickle down taxation reaches the middle and lower-middle classes?

http://www.google.com/hostednews/ap/article/ALeqM5jlMpJGn28kqCcgU-aGcYE_ZHW-ywD9BTML5O0

 
Anonymous

Asked by Anonymous at 9:44 AM on Nov. 12, 2009 in Politics & Current Events

This question is closed.
Answers (13)
  • Applause for Anon :21!

    I turned down a very lucrative contract earlier this year because of taxes. It would have put me in a higher bracket. By the time I hired a couple more people and paid all the additional expenses it just didn't make sense. Can you even fathom a business turning down business?? Things have come to a sad pass when that happens.

    I am not hiring and if the healthcare travesty passes I will be cutting wages by 15% and letting at least 1 person go.

    Personally, I would be willing to pay higher taxes IF they were using it to pay off the DEBT--that is DEBT not Deficit.

    I won't work 60 hrs a week and paying more 50% for taxes(fed, state, business, property..). I will fulfill my existing contracts and close up shop. I can make a little money by doing special needs items or I can just go back to being a wife and mom. I won't be bullied by any administration.
    yourspecialkid

    Answer by yourspecialkid at 10:39 AM on Nov. 12, 2009

  • Anonymous

    Answer by Anonymous at 9:44 AM on Nov. 12, 2009

  • It will be passed down when the wealthy feel the pinch, and decide to let their lawn guy go, or not give the housekeeper a raise. It will be passed down when retired wealthy decide to move to a more tax-friendly country, taking their money with them. It will be felt when small business owners lay-off workers, or decide not to expand and create more jobs.


    When the wealthy decide to spend less, the waitress won't get their tips, and the salesperson won't get their commission.  The artist won't be selling his art, and jeweler won't be selling his diamonds.  Then the waitress, salesperson, artist, and jeweler pay less in taxes, so the government ends up with a shortfall, and ends up raising taxes on everyone.

    mancosmomma

    Answer by mancosmomma at 10:12 AM on Nov. 12, 2009

  • I agree mancosmomma, but how long do you think that will take? People are already being laid off due to the economy being as bad as it is right now. I don't think it will take long for everything to go to squat when and if they succeed at making to "wealthy" pay for everything.
    Anonymous

    Answer by Anonymous at 10:19 AM on Nov. 12, 2009

  • When the small business owners quit expanding and start letting people go we all will feel it. Many that will be taxed are not actually wealthy they are small business owners my dads company brings in 600k a year he only sees 100k of that after costs, wages and supplies. He has three kids at home (one is disabled) and a wife. Also he has to pay out of pocket for insurance. They would go under if they are taxed anymore or he will have to let some people go.
    Anonymous

    Answer by Anonymous at 10:21 AM on Nov. 12, 2009

  • The wealthy already pay 80 percent of the taxes collected I am not sure how much more this Admin wants.
    Anonymous

    Answer by Anonymous at 10:22 AM on Nov. 12, 2009

  • I think it's pretty clear they would be happy with 100% of it, anon :22.
    QuinnMae

    Answer by QuinnMae at 10:23 AM on Nov. 12, 2009

  • No doubt quinn as they are on the welfare roll themselves..
    tnmomofive

    Answer by tnmomofive at 10:24 AM on Nov. 12, 2009

  • Our housekeeper used to come twice a week but we have cut it to twice a month.
    Anonymous

    Answer by Anonymous at 11:20 AM on Nov. 12, 2009

  • Everyone is cutting back and small business owners are paying the price. They cannot afford what Obama is proposing. More jobs will be lost which is what Obama wants. He wants people dependent upon the govt because then he can control them. It is going to backfire on him.
    Scorpio359

    Answer by Scorpio359 at 11:55 AM on Nov. 12, 2009

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