Ok, this one is really not just for liberals. It’s for anyone that is all for the president’s plan to soak the rich and love to ‘shop local’. Here’s all you need to do. Find your favorite local, independent store. It could be anything. A pizza joint, a florist, that boutique that always has those oh so cute clothes. Ask if you can speak with the owner. Tell them how much you love shopping there (good to get the conversation off to a good start). Then ask if they are an S corp. When (if) they answer yes, congratulations! You have found a business that will be soaked by the Obama Tax Plan.
I tried to explain this before. If you wish to see it, go back to my “It’s one for you 19 for me” post. For every small business that files as an S corp, they are taxed at the maximum PERSONAL tax rate. That’s right…All the businesses profits/losses flow directly to the owner’s personal tax return. That means that if your favorite business makes profits over $250,000, they are the ones that are going to pay Obama’s taxes. What does that mean for you as the consumer? Well, it could mean higher prices, that clerk that you love dealing with could have their hours cut (or their job lost entirely), or, in a worse case scenario, the business closes due to the new taxes choking off all of their profits.
You may not be rich yourself, so the taxes don’t directly affect you. However, I’m sure that most of you have a small business that you frequent (even occasionally) that will be affected. I’m not going to blame the low information voters. Every one of the 51% of the voters that re-elected this administration is to blame. Because you fell for the hype, you have managed to choke off the American Dream. It’s a struggle and the hours are long and crappy, but everyone with ambition strives to own their own business. What is better than saying that you work for yourself? With these new taxes, existing businesses will struggle and new businesses will not be started. Small business built this country. Liberalism is trying to destroy it.