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Reply #34: Any small business owner who is paying himself/herself $250,000 per year is not struggling. [View All]

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Hosnon Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-27-10 08:56 AM
Response to Original message
34. Any small business owner who is paying himself/herself $250,000 per year is not struggling.
Edited on Tue Jul-27-10 08:58 AM by Hosnon
Small businesses are much smaller than I think most Republicans realize (i.e., I'd consider any business that can pay its owner over $250,000 at least mid-sized).

And if I'm not mistaken, few businesses would have over $250,000 in income after paying its owner a $250,000 salary. In reality, the business owner would be paid $500,000.
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  -If you make more than $250,000 a year ... Lesleymo  Jul-27-10 06:11 AM   #0 
  - What percentage will their taxes go up?  Champion Jack   Jul-27-10 06:13 AM   #1 
  - Back to the rates under Clinton.  safeinOhio   Jul-27-10 07:21 AM   #13 
     - and our deficit went away, too.  Dappleganger   Jul-27-10 08:30 AM   #25 
  - A good republican whine has never been deterred by facts.  hobbit709   Jul-27-10 06:21 AM   #2 
  - A sole proprietor means there is only one owner  Travis_0004   Jul-27-10 06:24 AM   #3 
  - Welfare for the wealthy nt  Xipe Totec   Jul-27-10 06:25 AM   #4 
  - You can be a sole proprietor (owner) and have employees. Not everyone  pnwmom   Jul-27-10 06:30 AM   #5 
  - if they are reporting all income earned from their business on their personal tax return  ejpoeta   Jul-27-10 06:32 AM   #6 
  - I think that this statement is incorrect:  Th1onein   Jul-27-10 06:32 AM   #7 
  - That statement is indeed incorrect  justanaverageguy   Jul-28-10 03:28 PM   #86 
  - It was Paul Ryan on the Chris Matthews show.  FBaggins   Jul-27-10 06:36 AM   #8 
  - Paul Ryan: Big. Lying. Conservative. Dickhead. n/t  librechik   Jul-28-10 12:04 PM   #72 
  - People who report their business income as personal income are tax cheats.  baldguy   Jul-27-10 06:50 AM   #9 
  - That is how it works for partnerships, llcs, and self employed people  Warren Stupidity   Jul-27-10 06:55 AM   #11 
  - completely and utterly wrong...  ProdigalJunkMail   Jul-27-10 06:59 AM   #12 
  - You might want to learn about the taxcode before making false statements.  Statistical   Jul-27-10 08:20 AM   #22 
  - That is true for a S Corph  Bonhomme Richard   Jul-27-10 06:50 AM   #10 
  - He was spinning like a whirling dervish.  Stinky The Clown   Jul-27-10 07:26 AM   #14 
  - Buy your kid a Ford for graduation instead of a Saab or Lexus!  DailyGrind51   Jul-27-10 07:26 AM   #15 
  - It's all about smoke and confusion.  Iterate   Jul-27-10 07:31 AM   #16 
  - If I made more than 250K a year I would have to have a well running business  LaurenG   Jul-27-10 07:31 AM   #17 
  - It isn't "salary" - it's the profits of the business.  FBaggins   Jul-27-10 08:09 AM   #19 
     - Thanks, I misunderstood the whole premise  LaurenG   Jul-27-10 08:36 AM   #28 
     - But salaries are considered business expenses.  Hosnon   Jul-27-10 09:03 AM   #35 
  - What they fail to realize is that "small business owners" who are making $250K and  Vickers   Jul-27-10 07:32 AM   #18 
  - And fast food franchises... and dry cleaners...  FBaggins   Jul-27-10 08:11 AM   #20 
  - sole proprietor doesn't mean what you think it means.  Statistical   Jul-27-10 08:16 AM   #21 
  - Why wouldn't all business expenses be accounted for before taxes are assessed?  Hosnon   Jul-27-10 09:38 AM   #37 
     - You are correct. NT  truckin   Jul-27-10 09:46 AM   #40 
     - I never said $250,000 was chump change.  Statistical   Jul-27-10 10:04 AM   #41 
        - I think you have me confused with the OP.  Hosnon   Jul-27-10 10:24 AM   #46 
           - Ah yeah I did confuse you for the OP.  Statistical   Jul-27-10 10:28 AM   #47 
              - Why is the boss an asshole?  justanaverageguy   Jul-28-10 03:48 PM   #87 
  - Nol only that  dmallind   Jul-27-10 08:23 AM   #23 
  - Or another way to get your post-tax income back up to the same level  Statistical   Jul-27-10 08:27 AM   #24 
  - I suspect that is why the economy always does so much better under Democratic Presidents.  ieoeja   Jul-27-10 01:25 PM   #57 
  - Sole proprietors can have employees, they just don't have any co-owners  uncommon   Jul-27-10 08:30 AM   #26 
  - The $250,000 figure is being used as a smoke screen  slackmaster   Jul-27-10 08:33 AM   #27 
  - This is a false argument. If a small business owner can make  truckin   Jul-27-10 08:37 AM   #29 
  - That's true - small business owners more than any others are going to want to always do  cbdo2007   Jul-27-10 08:45 AM   #30 
  - The Definition Of Rich...  KharmaTrain   Jul-27-10 08:45 AM   #31 
  - you are wrong... sorry  MAcciard   Jul-27-10 08:55 AM   #32 
  - You report all of your income, not revenue. NT  truckin   Jul-27-10 08:56 AM   #33 
     - Technically you report both.  Statistical   Jul-27-10 10:10 AM   #44 
        - Agreed, but you only pay taxes on income. NT  truckin   Jul-27-10 10:17 AM   #45 
           - True to a point...  MAcciard   Jul-27-10 11:12 AM   #50 
              - Ok, here is an example using a really greedy, evil HUMUNGOUS Corp.  MAcciard   Jul-27-10 11:27 AM   #51 
  - Any small business owner who is paying himself/herself $250,000 per year is not struggling.  Hosnon   Jul-27-10 08:56 AM   #34 
  - $250,000 in business income does not mean the owner paid himself $250,000.  Statistical   Jul-27-10 10:08 AM   #42 
     - Most small businesses that I encounter aren't concerned about expansion, etc.  Hosnon   Jul-27-10 10:29 AM   #48 
     - You make good points about how much an owner receives but  truckin   Jul-27-10 10:29 AM   #49 
     - There is no "regardless of tax rate" calculus.  FBaggins   Jul-27-10 02:53 PM   #58 
        - You're missing my point. If you have a landscaping business  truckin   Jul-28-10 08:09 AM   #67 
           - That's an artificial scenario  FBaggins   Jul-28-10 09:16 AM   #69 
              - It's not an artificial scenario and there is no presumption of an  truckin   Jul-28-10 09:44 AM   #70 
                 - Of course it is.  FBaggins   Jul-28-10 11:57 AM   #71 
                    - Please provide an example where a company would not hire an  truckin   Jul-28-10 12:14 PM   #73 
                       - Lol !  FBaggins   Jul-28-10 12:39 PM   #74 
                          - I asked you to provide an example to back up your point and it  truckin   Jul-28-10 02:01 PM   #75 
                             - You appear to operate under the delusion that you GAVE an example.  FBaggins   Jul-28-10 02:18 PM   #77 
                                - Do you own a small business? Have you ever paid an employee?  truckin   Jul-28-10 02:21 PM   #78 
                                - Plenty of them  FBaggins   Jul-28-10 02:24 PM   #79 
                                   - You've paid employees but you never owned a business? Is that  truckin   Jul-28-10 02:31 PM   #81 
                                      - Did you read the update?  FBaggins   Jul-28-10 02:44 PM   #83 
                                - You make the following statement and this is where we may not be  truckin   Jul-28-10 02:29 PM   #80 
                                   - It's obvious that we're "not connecting" - but it isn't for the reason you assume.  FBaggins   Jul-28-10 02:38 PM   #82 
                                      - It sounds like your experience is working for a larger company.  truckin   Jul-28-10 03:16 PM   #85 
                                         - Very well. But now it sounds as if...  FBaggins   Jul-29-10 12:10 PM   #88 
                                            - All right, you dragged me back in.  truckin   Jul-29-10 01:05 PM   #89 
                                               - Ok. I'll drag some more.  FBaggins   Jul-29-10 04:22 PM   #91 
     - Thank you  MAcciard   Jul-27-10 12:01 PM   #53 
  - the "small business owner" canard is at best an argument for a tax break for SMALL BUSINESS OWNERS  unblock   Jul-27-10 09:38 AM   #36 
  - This is the flip side of the Rahm canard that Dems want to "extend the taxcuts"  Romulox   Jul-27-10 09:41 AM   #38 
  - Well technically it is $250K married. $250K married isn't in top 5% of earners. Maybe top 10%.  Statistical   Jul-27-10 10:09 AM   #43 
     - No... $250k puts you in the top 5%  FBaggins   Jul-27-10 11:27 AM   #52 
  - Ridiculous  lumberjack_jeff   Jul-27-10 09:43 AM   #39 
  - That is pure B.S.  Motown_Johnny   Jul-27-10 12:07 PM   #54 
  - Sorry... that's simply wrong.  FBaggins   Jul-27-10 01:11 PM   #56 
     - any way to support that "fact"  Motown_Johnny   Jul-27-10 05:21 PM   #60 
     - Which?  FBaggins   Jul-27-10 08:07 PM   #64 
        - this one  Motown_Johnny   Jul-28-10 03:12 PM   #84 
     - here is a link to which seems to agree with me  Motown_Johnny   Jul-27-10 05:44 PM   #63 
        - No... you've confused to similar figures  FBaggins   Jul-27-10 08:11 PM   #65 
           - Well, one of us is confused (perhaps both)  Motown_Johnny   Jul-28-10 02:15 PM   #76 
  - a friend of mine  GSLevel9   Jul-27-10 12:15 PM   #55 
  - We're small business owners.  Greyskye   Jul-27-10 05:13 PM   #59 
  - If it reported on their personal income tax return, then they ARE earning that much  Orangepeel   Jul-27-10 05:22 PM   #61 
  - Some small business owners take a salary, which takes  Cleita   Jul-27-10 05:23 PM   #62 
  - Do they have *ANY* idea how the economy works? Any at all?  Initech   Jul-27-10 08:12 PM   #66 
  - That's only 2% of small business owners.  Overseas   Jul-28-10 08:38 AM   #68 
  - Let's say I'm a small business with 6 employees and I pay them a decent wage.  4lbs   Jul-29-10 01:24 PM   #90 

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