Quote:
Originally Posted by Nathan
If someone making 1m a year in profit, who employs let's say 10 people, gets a tax increase of 7% (33 to 40), thats 70k a year less profit for that person...
Now, there is 2 options here, either he just let the gov take an additional 70k from him, which might seem little compared to the 1m, but I think its more than most people on this board make a year so claiming its not a lot is just stupid...
OR, how about he tries to recoup the 70k and fires one of his 10 employees? Now who did that increase help?
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Or maybe he just hires an extra employee or two, or invests into his business some other way. Writes off the $70K+ as an expense, and voila, he's all the better for it and in a lower tax bracket again.
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