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Originally Posted by firstdown
I understand how corporations work I just find it funny no one can show me his plan and how it will really works.
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All the info you need can be found here.
Full Obama Tax Plan
Comparison of the Obama and McCain Tax Plans
Key Facts About Obama and Taxes
Quote:
Originally Posted by firstdown
If my business brings in $280,000 then its has made $280,000 and by Obama saying he will only tax business that make over 250,000 then I'm assuming that the business making the $280,000 will see a tax increase.
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You are correct in your assessment though I would it is given that if people making under 250K won't see a tax increase people making over 250K will see a tax increase. This is 1 + 1 = 2 stuff.
Quote:
Originally Posted by firstdown
No where have I seen or heard Obama say businesses with a net income over 250,000 will see a tax increase. I would think he would insert the word net income if thats what his plan really does but all I ever hear is businesses making over 250,000.
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Are you being facetious? Companies are never taxed on gross income...never, ever, ever! If we started taxing companies based on gross income that would be the end of capitalism. What you are implying that since he didn't use the word net that we don't really know what he means. When someone talks about increasing/decreasing taxes they are talking about increasing/decreasing taxes on taxable income (take home monies after deductions), capice?