Your Qna     New Questions     About Qna
EQNA is a growing interactive people-knowledge network with more than 120,000 questions and 450,000 answers from over 55,000 members worldwide. With all friendly functions, EQNA will be a fun place to join, share and discover knowledge, an open net space allowing you to connect with other people having specialized knowledge or ones with same interests to yours. EQNA login features secured logins using Twitter and Facebook enable you to place questions without sharing your personal information to us. Lets get out and join our community today!
Ask a Question
Cutey with a booty

"U never work for a poorer person"; Tax cut for the rich is good idea for everyone then?

I have my own opinion, but I am wondering if there is any hole in that argument.
MellowJello:

You must realize they dion't mean a personal income tax cut!

MellowJello:

Great question! And I probably agree with your opinion.
I operate a small business, which employys 5 people "Full-Time" . The business and its assets are worth over a mil. Yet , I often need to dip into Retirement pay in order to make the weekly payroll. ergo, I am a far cry from being welthy, yet I am taxed on the entire business, inventory, and assets every year ($2250.00 monthly) Now let's discuss the matching to employee taxes. Then the "Minimum Wage Increase" (MWI) and the fact that: THIS YEAR THE COST OP OPERATING A SMALL BUSINESS HAS MORE THAN DOUBLED. - BUT THE INCOMING REVENUS HAVE DECREASED 45% For those of you who still don't get it in a nutshell. My highest paid employee is taking home more than I am. If you think the MWI was a good thing, just wait til' next year when you will suddenly, "OWE" INSTEAD OF GETTING A REFUND.

MellowJello:

If you still don't get it, here's the math;
BEFORE avg wkly revenue = $1800.00 with 5 employees at Min wage.
Payroll - 5 x $5.35 hr x 40 hrs = $1070.00 Rgr $730.00
Matching (medicare/Fica/Futa Unemp) 1070 x .02 = $21.40 Rgr $708.6
Rgr is remaining gross in. this is before other operating expenses.
NOW decrease in incoming revenue 12% Gr Inc $1584.00
5 x 40 x 5 x $2.15 (MIW) = $430.00 (pay incr) + $1070.00 = $1500.00 ???
Remaining gross income = $84.00 whoops for matching tax incr.
1500 x .02 (?) new tax bracket? each Min Wage Employee went from $11,128.00 per anum to $15,600.00 per anum now x.035 = $52.5
OK, Who’s getting laid off, and who gets fired?
only $31.50 left and still need to pay the utilities! But The IRS GOT THEIRS!!

Cutey with a booty:

Agree. I like Obama, but I don't like him when he says he will roll back Bush's tax cut.... Too bad McCain is also now going back on his promise not to raise "some taxes". Last thingt we need is higher taxes!

Ed:

Tax cuts are a good idea, especially in a sinking economy. I don't begrudge other getting a break on taxes, even if I don't....everyone should get a break, but the way politics works, you have to take what you can get.
Tax cuts, up to a point, are also good for the federal budget. Kennedy cut taxes to stimulate the economy, which resulted in more revenue for the federal government. Other presidents have tried this, and it also worked for them.

Porkenstein AKA Pork, Porky, Porkens:

Yes. However it isn't very easy to support politically. Human nature and cognitive dissonance tends to make people in general distrustful of the rich and assume they are somehow undeserving of their success.

Answer:
Text ColorBackground Color
BoldItalicUnderline
LeftCenterRightJustify
Ordered ListBulleted List
IndentOutdent
Horizontal Rule
SubscriptSuperscript
HyperlinkImage
Design ModeDesign
Html ModeHtml
 

Top Question And Answer

  • What do you think? Since Bush has been in office; The rich is RICHER; the poor poorer, and hardly
  • We only have one world why do we consider poorer countries the Third World. Where are the other 2?
  • Why are the rich getting richer and the poor getting poorer?
  • If a person doesn't want to be on QnA any longer, why do they ask to be banned? What's the
  • Teach a person to use the Internet and they won't bother you for weeks?
  • We are going to be building 40 low income homes in Bountiful Utah. I'm looking for an HVAC person
  • Do you think it right that one person could have a question removed? I think it must be a report by
  • Is a person covered under workman's comp after 12 hrs?
  • DOES A PERSON REALLY KNOW THEIR OWN SELF?
  • Why would an employer (public company) pay $50K for non-college degreed person to just file?
  • A person whom I'd done business with for years just contacted me after she left for a new company.
  • If everyone was sent an absentee ballot once they're 18, and by default registered decline to state,
  • Okay I've asked everyone around here hopefully you all can help me out with this one.....
  • President Bush wants to give everyone free money to help the economy, will this strategy work?
  • Did everyone leave Yahoo Answers to come here
  • why does everyone think they deserve a tip?
  • Hey everyone I have a question about Harry Potter 6
  • If everyone on here put one dollar in to play the lottery:
  • Good morning everyone, yup me again. Answered the phone again. Called in on my day off?
  • I want to buy a bag,what is the baghttp:www.goyardreplicasale.com/Grade-Quality-Goyard-Saigon-Tote-Bag-PM-8941-Black/196/index.html
  • How is it:www.topreplicagears.com
  • Www.mokahandbags .com
  • Facebook new account opening form
  • Hom bhr0165301533Www.facebook.new account
  • Hom bhr0165301533
  • Hom bhr0165301533Www.facebook.new account
  • Hom bhr0165301533
  • how do I get mms message fro. mmsweb.iwireless.com
  • Find out how many cars of my model are registered
  • What would happen if a letter opens in the mail
  • Facebook new account open
  • Facebook New Account Creation
  • Facebook new account creation
  • locating a business that closed