How does Obama help small businesses?

catsareniice1

I've heard Obama say that he has helped small businesses but my brother-in-law who has a small business said he doesn't see any benefit from Obama in office.

Can someone explain how he helps small business? 

Jan8

http://www.barackobama.com/small-business-owners

Jan8

And

 http://www.barackobama.com/small-business-owners/accomplishments

vlagrl29

I'm still not 100% sure he helps small business that much.   with all these taxes taking affect I'm not sure how it will help them out.  I feel that a lot of business have froze hiring and raises until they know whats going on

JeniLovesNeil

vlagrl29:

I'm still not 100% sure he helps small business that much.   with all these taxes taking affect I'm not sure how it will help them out.  I feel that a lot of business have froze hiring and raises until they know whats going on

What taxes taking effect?  Please list them for me. 

EllaHella

JeniLovesNeil:

vlagrl29:

I'm still not 100% sure he helps small business that much.   with all these taxes taking affect I'm not sure how it will help them out.  I feel that a lot of business have froze hiring and raises until they know whats going on

What taxes taking effect?  Please list them for me. 

It's like a freaking copy and paste for every answer...

"these taxes that will take effect"  CTRL+C, CTRL+V

CoffeeBeen

vlagrl29:

I'm still not 100% sure he helps small business that much.   with all these taxes taking affect I'm not sure how it will help them out.  I feel that a lot of business have froze hiring and raises until they know whats going on

Just sayings things doesn't make them true.  Please do your research and investigate the veracity of your claims *before* you make them.   

vlagrl29

JeniLovesNeil:

vlagrl29:

I'm still not 100% sure he helps small business that much.   with all these taxes taking affect I'm not sure how it will help them out.  I feel that a lot of business have froze hiring and raises until they know whats going on

What taxes taking effect?  Please list them for me. 

for one the payroll tax 

missymo

vlagrl29:

JeniLovesNeil:

vlagrl29:

I'm still not 100% sure he helps small business that much.   with all these taxes taking affect I'm not sure how it will help them out.  I feel that a lot of business have froze hiring and raises until they know whats going on

What taxes taking effect?  Please list them for me. 

for one the payroll tax 

lol.  You said "all these taxes."  So keep going. And please expound in this payroll tax.

ETA: Damn! I swore I wouldn't respond to you anymore. I fail at not engaging with people whose level of obtuseness makes it pointless. 

vlagrl29

Medicare payroll tax hike.  Under Obamacare, the Medicare payroll tax for wages and self-employment earnings in excess of $250,000 ($200,000 singles) will rise from 2.9 percent to 3.8 percent. This is a direct tax hike in the marginal income tax rate paid by the self-employed, general partners, and on the wage component of Subchapter-S earnings. And since the majority of small employer profits are taxed in brackets that exceed $250,000, this is also a direct marginal tax increase on the majority of small employer profits.A percentage point may not seem like a lot, but it really is when combined with President Obama's budgetary plan to raise the top marginal income tax rate from 35 to 39.6 percent. Small employers pay taxes using the individual tax brackets, and the majority of small employer profits are taxed in the top bracket. Surtax on investment income.  Obamacare in 2013 also imposes a 3.8 percentage point surtax on "investment income." Some of this so-called "investment income" is actually small business profits. Notably, investors in small businesses (limited partners and passive shareholders in Subchapter-S corporations) will face this tax. Active trade or business income is excluded, but of course most of that will face the higher Medicare tax described above. This provision will make it harder for employers to raise capital in order to create jobs and expand business operations. Employer mandate.  This is the "little brother" of the individual mandate which gets more attention. The employer mandate, which takes effect in 2014, will apply to all firms with 50 or more employees. If an employer fails to provide "qualifying health insurance" (which is defined by Obama-appointed bureaucrats at the Department of Health and Human Services), these employers will have to pay a per-employee excise tax fine. The tax is $2000 per employee ($3000 if an employee receives coverage through an exchange). If the employer has a waiting period to get into the plan, there is an additional tax of $400-$600.A small employer with 100 employees could easily find themselves paying a tax of $300,000 per year. Even if an employer provides health insurance, it can be deemed "unqualified" by HHS. Just ask the Catholic bishops. Individual mandate.  Many self-employed people choose not to have health insurance. They would rather self-insure, have a mini-med plan, or want to retain capital in their small businesses. This choice is stripped of them by Obamacare. Starting in 2014, everyone must obtain "qualifying" (there's that word again) health insurance, or face an excise tax of at least 2.5 percent of adjusted gross income. The federal government should not be able to force people to purchase a product that they don't want, and use the IRS as the bludgeon to make them do it. It's really as simple as that.

 

I'm questioning the fact that you guys really don't know the definition of small business.  are there any small business owners on this board? 

GeraldoRivera

vla, you must have gotten than from Mitt Romney's site or something, because it's so incredibly biased that I don't even know where to begin.

 

First of all, the vast majority of small businesses do not have profits of $250k+. Only about 3% of them do, so only about 3% of small businesses would be affected by the tax. 

 Second, only a tiny fraction of small businesses have "investment income". Most small businesses make their money not from investments, but from selling their products or services. The small businesses that will be hurt by the investment income tax are hedge funds that makes billions a year, but are technically "small businesses" because they have less than 500 employees.

The health insurance issue is a big one, I will agree with that. But that's primarily because of the incredible cost of health insurance, not because of the mandate. The cost of health insurance was *already* crushing small businesses. The solution would be to have nationalized healthcare, so that businesses aren't forced to take on the burden of providing insurance for their employees. It's not "well, employees should just have to go without healthcare so that businesses can make more money." 

And to the last point, a nationalized healthcare system would make it MUCH easier for people to start their own businesses and become entrepreneurs. I know of several people who want to start businesses, and actually have the money and skills to do so, but they can't quit their jobs to do this because they have preexisting conditions that make them uninsurable. Our system of private insurance and employer-based insurance puts a huge damper on innovation and entrepeneurship in this country. 

 

And yes, actually I am a small business owner. An actual small business, though, not one with 499 people and billions in profits. 

 

justAphase

It's from Americans for Tax Reform. 

http://m.atr.org/article.php?id=6788

vlagrl29

I don't visit romney websites thanks.  this is listed on several ligit websites.

GeraldoRivera

vlagrl29:

I don't visit romney websites thanks.  this is listed on several ligit websites.

Such as anti-tax lobbying groups and conservative think tanks? 

EllaHella

justAphase:

It's from Americans for Tax Reform. 

http://m.atr.org/article.php?id=6788

Who nailed it with the Norquist poster in the bedroom?  Ella did.

CinemaGoddess

EllaHella:

justAphase:

It's from Americans for Tax Reform. 

http://m.atr.org/article.php?id=6788

Who nailed the Norquist poster in the bedroom?  Ella did.

I read the above as such, instead of how it actually read.

justAphase

EllaHella:

justAphase:

It's from Americans for Tax Reform. 

http://m.atr.org/article.php?id=6788

Who nailed it with the Norquist poster in the bedroom?  Ella did.

I was thisclose to mentioning you and that comment, but I didn't want to start an argument about snarky dems