Bannon pushing for 44% tax rate on earners over $5m
- Thread starter Scoop
- Start date
GnauzBookOfRhymes
Superstar
If you're an actual small business and you are paying anywhere near that tax rate you need to draw and quarter your accountant. It is virtually impossible to pay those rates assuming you are taking all of your standard business deductions.
I do agree that large corporations are bending the country over the table when it comes to their tax dodging.
But one thing you guys need to realize is that the same people who push these myths of small businesses paying 40% tax rates are the ones that push policies that allow the large companies to pay zero taxes. And you guys swallow it hook, line and sinker. That is the beauty. You THINK you're advocating for the small mom and pop businesses, when in actuality you're giving cover for GE to pay no taxes.
Bernie Madoff
Banned
No idea what talking about..."you're agenda" shoulda been "your agenda." Nice edit.
Please be kidding
But what if the total tax burden as a whole is lower as a result of the shift?
Like I said, nice edit. My quoted response has your original post.
Bernie Madoff
Banned
#fakenews
Look at America's tax rates in the 1950s, the most prosperous period in america history, and see if you think those are high
Our tax rates are way too fukking high across the board.
Bannon is going to get found in a ditch
TheCPA
All Star
Taxes are applied on revenue minus the expenses and other deductions, if your net income is over 5M$, you're not a small business anymore and i don't know any professional who make that kind of income, so your argument is bogus and don't make sense.