Sophia Posted September 14, 2021 Share Posted September 14, 2021 I am wondering what this spells out for smaller businesses. I feel like they are putting the nails in the coffins already. https://www.nationalreview.com/2021/09/nancy-pelosis-3-5-trillion-tax-hike-plan-explained/ What do you think this will do to small businesses in the US? Are you worried about it effecting your business? Quote Link to comment Share on other sites More sharing options...
James Posted September 14, 2021 Share Posted September 14, 2021 The government always wants more money and more power. They have trouble managing the things they currently have. They are not transparent with their spending and waste money left and right. Not a fan of higher taxes at all. Of course there are going to be loop holes available to the most wealthy while the common everyday American gets screwed. I myself am in favor of a flat rate post card tax system where everyone pays the same and there are no deductions or loop holes. Of course the would get rid of all the CPAs out there but it just seems to be so much easier to manage and you would think it would be cheaper to run then the current system and much more efficient. 2 Quote Link to comment Share on other sites More sharing options...
Justin89 Posted September 15, 2021 Share Posted September 15, 2021 Yeah, there are a lot of small businesses that I think will face issues because of this. I'm all for places like Amazon, Google, Facebook to be taxed like crazy, but when it's a smaller business, a home grown, mom and pop one, I prefer they not be taxed nearly as much. Tax the rich mega corporations. Small businesses should be taxed less based off of their earnings if anything. 3 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted September 15, 2021 Share Posted September 15, 2021 Wait... Can we actually tax Facebook and Twitter? I mean they are making social and political issues way worse. They should be the ones paying for the damages of the riots and everything else that happened. It all started on their toxic platforms! 2 Quote Link to comment Share on other sites More sharing options...
James Posted September 15, 2021 Share Posted September 15, 2021 All the corporations are paying taxes just like everyone else. I think a lot of the problems we see have to do with systems that are just to hard to navigate. There is a reason you add a CPA to your team once you are financially able to but that full process should not need to take place. The tax code is just to complicated by design so they can always make it look like they are taking action but the smart ones know how to skirt it because the loop holes are built right in. If they rolled out a system that said we tax personal income at x%, we tax net profit at x%, we tax capital gains at x% and so forth and just remove all the other language around it we would have a system where everyone is getting to contribute their fair share. We should all pay the same percentage wise. The reason why it seems like some of these large corporations do not pay much in taxes is because their is no profit to tax. 1 Quote Link to comment Share on other sites More sharing options...
Ella Posted September 18, 2021 Share Posted September 18, 2021 On 9/15/2021 at 4:04 PM, James said: The reason why it seems like some of these large corporations do not pay much in taxes is because their is no profit to tax. Yeah, like Bezos. He filters his earnings through a secondary business not located in the US so his "earned profit" either amounts to 0 or a very low number. It is a sham and this kind of crap should not be legal. If he paid his taxes in full like everyone else is expected to, we'd see our numbers go down. I can't stand shady business men like him! 1 Quote Link to comment Share on other sites More sharing options...
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