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Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi:

 
 
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Old 07-18-2012, 08:30 PM   #1
sburnsey931
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I am a Business owner in Mass. 10 years as a Commercial Drywall Company.
It's not glamorous but it's what I do.
Every job I get is a competive bid against a number of similar firms. Then further negotiated. I then proceed to build say Walmart or say maybe an offfice building. I have to purchase the material and provide the manpower to complete the job profitably. Oh yeah I finance the job also......at best in 90 days I'll start to see a monthly payment on the job. Most smaller jobs are completed out of pocket. the joke is every morning I wake up and say" I'm all in". the risks are high. After I make this gross profit of 17-20% I pay my matching FICA of 7.5%on my payroll, though I think I get a 1.5% break(bush tax cut). then 7% workers comp then 3% liability and don't forgot 12% uneployment on the first 14k per man...I have 30. I have 3 trucks and office estimator and secratary. My monthly gas bill is $1600. When it is all said and done we strive for 8-10% net profit. Depending on volume I will owe 33-35% federal plus my social security being self employed and then my mass state tax.
in the end I get 5% of the money or 1/2 the profit......It's sad but true.
Personally I would think employing 30 men would be enough of a contribution.
I pay about a 100k in just matching FICA yearly...that's more than most.
now if I do well in a given year......They would llike me to "contribute" more.
As the risk taker/owner I should be encouraged not discouraged or worse made to be the greedy owner.
The real problem as I see it the american worker is lazy and unproductive.
They think they are great...why because you showed up.....ya right.....
I always say you have no problem sticking your hand out friday for your check....well I have no problem on tuesday asking for you to work.....
everyone knows people they work with that do nothing all day...if they never showed up again the company would be just fine.... maybe they spend the day on the internet or talk to the girlfriend or my favorite...just brag all day how they don't do anything...
They are the problem...the keep costs high and force companies to build their products elswhere. Or the local tax on real estate is so high because when you hire a 24 year old fire fighter you will pay for him until he dies.....
I tell my 3 sons 1 thing ...work hard...it doesn't matter what someone else does...the system will flush them out...just like if my company can't compete and be profitable the system will flush it out...
Lately a lot of people are having a hard time finding work and corporate profits are up... sounds like the system is working....
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Old 07-18-2012, 11:54 PM   #2
zimmy
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Originally Posted by sburnsey931 View Post
Depending on volume I will owe 33-35% federal plus my social security being self employed and then my mass state tax.
That percent you give is before deductions and not effective tax rate. I am sure you pay a lot in taxes since that is a top tax bracket, but that is not the actual percent payed.
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No, no, no. we’re 30… 30, three zero.
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Old 07-19-2012, 04:58 AM   #3
JohnnyD
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That percent you give is before deductions and not effective tax rate. I am sure you pay a lot in taxes since that is a top tax bracket, but that is not the actual percent payed.
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You own a business? If so, then you'll completely understand that what Uncle Scam calls "Effective Tax Rate" and the actual taxes that a business pays due to the multitude of required payments to Uncle Scam are extremely different - and typically not for the better, might I add. Shall I list them all out again?
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Old 07-19-2012, 06:24 AM   #4
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You own a business? If so, then you'll completely understand that what Uncle Scam calls "Effective Tax Rate" and the actual taxes that a business pays due to the multitude of required payments to Uncle Scam are extremely different - and typically not for the better, might I add. Shall I list them all out again?
you'd think he'd understand this as he was just recently arguing that the nearly 50% of Americans whose "effective federal tax rate" or federal income tax liability is currently "0"... are actually paying their "fair share' in taxes because they are paying things like sales tax etc.....guess it doesn't work both ways
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Old 07-19-2012, 07:30 AM   #5
Jim in CT
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Originally Posted by JohnnyD View Post
You own a business? If so, then you'll completely understand that what Uncle Scam calls "Effective Tax Rate" and the actual taxes that a business pays due to the multitude of required payments to Uncle Scam are extremely different - and typically not for the better, might I add. Shall I list them all out again?
This post, in a nutshell, demonstrates the dilemma we are in. If Zimmy's facts are correct as they were presented, it might be rational to conclude that the tax problem is overblown by conservatives. JohnnyD, who has owned businesses, explains why Zimmy's assumptions are flawed, and distort the conclusions.

If JohnnyD is correct, (having never owned a business I don't know firsthand, but I haven't seen any outrageous misrepresentations by him, ever) I'm curious to see Zimmy's reaction. Because in my experience, it's difficult, if not impossible, to have a rational conversation with a liberal about economics. Once they buy into the liberal economic agenda, they cannot be persuaded by common sense, not even by facts.

Assuming JohnnyD is correct, he has destroyed the premise of Zimmy's post.
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Old 07-19-2012, 09:21 AM   #6
zimmy
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You own a business?
Yes, we do.
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No, no, no. we’re 30… 30, three zero.
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