Comments | demeterschild: How raising taxes on people can cost me my job

demeterschild

How raising taxes on people can cost me my job

Nov 02, 2008 18:49

It seems odd to contemplate the idea that taxing someone who makes $250k a year can cause someone who makes $10k lose her job, but it is manifestly possible.

How, you ask?

Most small businesses must file as an individual person, rather than as a business, with a special Schedule C form denoting where the money came from. Professional poker players ( Read more... )

Comments 5

doktorvox November 3 2008, 05:30:19 UTC

You are right about the truly wealthy having money that magically appears under different umbrellas than those that are most taxed. It's unfair, and I suspect that needs quite a lot of reform. I wish that the government had the guts to reinstate some of the policies we saw under Eisenhower. In the 1950s, the income tax brackets taxed the highest earners at NINETY-TWO PERCENT. It was a real fuck you to corporate greed, and it basically created the middle class ( ... )

demeterschild November 4 2008, 15:52:42 UTC

I'm a little vague because I'm not as versed in small business law as I should be, but my premise has been confirmed by those who are and yes, there is an odd little loophole wherein some small businesses are unable to be reported as businesses and must be reported via the Schedule C special from on a personal tax return.

Perhaps this is a number of employees issue.

Anyway, it's been a long time since there has been anything truly liberating about -either- party. I voted my conscience on several issues, and I'm sorry, but if you want someone that can inspire faith in himself, it's not the person who couldn't be bothered to do the job his electorate voted him to do in the first place.

He was too busy scrabbling over them to campagin to be on the presidential ballot to serve them in Congress.

- My political blurb for the day

eyes_of_beauty November 3 2008, 17:11:27 UTC

What can my cat do in office?

demeterschild November 4 2008, 15:54:25 UTC

The deity, love. *grin* I'll have to show you my "Loki for President" button.

Also...two elections until I'm eligible to run. Time to get the bus on the road.

eyes_of_beauty November 4 2008, 16:48:44 UTC

Can I be VP?

And as for diety - do you not think Loki assumes himself to be THE diety around here? I mean, come on! This IS Loki we are talking about.