Jan 11
5
The small business tax – a misnomer if ever there was one, what with all the deductions which can be claimed, all the expenses and losses that amount to thousands, if not tens of thousands of dollars per year.
Yes, let’s be honest, businessmen (and women) will always be crying poverty. But faraway from some tyrannical small business tax, rates continue to be within the range of historic lows, at thirty-some-odd percent that, modified by those aforementioned “expenses” and “losses” (yeah, right), could make the effective tax rate a mere twenty or less! Compare that to that of a single person whose net earnings are typically some twenty-five percent less his or her gross income.
To put things in perspective, take into account that Republican President Dwight D. Eisenhower, who ran one of the most business-friendly administrations ever, presided over corporate taxes of more than ninety percent! And still no person ever complained to Eisenhowever about how economic growth had been affected. But present day business person routinely complains about being hamstrung by usurious taxes, even though there is no “small business tax.” Indeed, aside from the expenses and losses that may be claimed against what one owes Uncle Sam, the government in fact has many special subsidies in place to help smaller businesses!
Is it just greed, pure and simple, which makes the typical entrepreneur such a complainer when it comes to sharing in the burden of funding the common good? Just what exactly is with the Tea Party ideologues who believe that an every-man-for-himself attitude is best for society in the long run ? A strange mood has long taken hold of america ever since Reagan, where people wave the flag while passing the buck. And yet our present-day financial crisis, caused by the Wild West ethos of economic libertarianism, has many demanding even less oversight and regulation!
