When you raise taxes on business owners do they take all of their profits to hire new people and expand their?

Question

businesses so they can pay more taxes? Or do they file bankruptcy and put all of their employees on unemployment?

Answer 1

Lay-offs. Downsizing. Overworked employees.  

Answer 2

No lets keep giving big business tax advantage and let them outsource offshore. If business wants to work in this global economy don't spend my taxes for this. We use taxes to bail out auto manufactures but what about the mom and pop business the real back bone of our economy.

Answer 3

no they usually go bankrupt and they have to fire all their employees, This is Barack Obama and I endorse this policy

Answer 4

i had a business for 12 years, the taxes kill you...when you boil it all down, you work for 20 bucks an hour..now mind you, i paid them....

Answer 5

  The liberals will say that they will take (steal) that money and create more gov't jobs with it. But the business owners would do a far better job creating new jobs than the gov't. The gov't doesn't do much right especially when run by liberals.

Answer 6

No, when you raise taxes on the business they will try to move the jobs overseas. Lets hope McCain can cut taxes.

Answer 7

True tale of woe.  New Jersey.  We had a thriving custom yacht building industry.  Wealthy people from all over the world came to companies in New Jersey to have yachts customized.  There were high paying jobs for many skilled craftsmen and their helpers.  There was a thriving wholesale industry keeping them supplied with specialty woods, tooling and fittings. All these people were paying State income taxes, too.

Then a Democrat Governor and a Democrat controlled State Legislature decided to impose a 15% luxury tax on those rich yacht owners.  The result?  In less than a year, the industry was gone.  The jobs gone and the income tax revenue gone.  

Does this answer your question?  

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Answer 8

Not all businesses do the same thing. Some suck it up and try to increase efficiency by eliminating some of their own wasteful spending or workers who waste company hours. Some go bankrupt and fold. And under Bush's Bankruptcy reform it makes it harder for entrepreneurs to recover from failure. It's too dynamic to characterize with one behavior.

But first of all, businesses (though they can legally use loopholes) shouldn't use loopholes to avoid paying current taxes by moving HQ overseas. That is a lack of American integrity on their part and robs the American economy of profit that was earned under it's capitalist promise.

Obama isn't going to raise taxes on small businesses and startups, and for any business who make jobs in America. It isn't hard to understand.

Obama has worked to introduce Patriot Employer Act of 2007 to reward companies that create good jobs with good benefits for American workers. The legislation would provide a tax credit to companies that maintain or increase the number of full-time workers in America relative to those outside the US; maintain their corporate headquarters in America if it has ever been in America; pay decent wages; prepare workers for retirement; provide health insurance; and support employees who serve in the military.

Obama will also provide tax relief for small businesses and start Up companies by eliminate all capital gains taxes on start-up and small businesses to encourage innovation and job creation. Obama will also support small business owners by providing a $500 “Making Work Pay” tax credit to almost every worker in America. Self-employed small business owners pay both the employee and the employer side of the payroll tax, and this measure will reduce the burdens of this double taxation.

Answer 9

Raise taxes there products will be more expensive for you and I.

It is a hot ball rolling down hill burning everyone and everything in its path.

Answer 10

Hire "new" people in US or China?

America have been sell out. All businesses are now in China.

According to the U.S. Census, 37.3 million people were living in poverty in 2007. 45.7 million (15.3 percent of the population) don't have health insurance—a staggering number that has risen by 6 million since Bush took office in 2001. And yet McCain extols Bush's economy and proposes his own policies that would sink our country further into debt.

Answer 11

Well, first, before they either file bankruptcy or farm their jobs out to foreign countries with better incentives and lower taxes, they raise prices for their goods and services to try and pass the increased cost of doing business on to the consumer.

Answer 12

Do you have any clue of what you are asking.  If you sell Hot Dogs on the corner you are a business owner.  If you can teach children to read and not be paid, you are a business owner.  You either can work for a wage or you can find a way to expand your knowledge.  If you think IBM is the only business then you will probably always work for some one else.  Hopefully your children will learn their is a world outside of your prejudice and make a difference.

Answer 13

When my taxes get raised on my business.  I do multiple things.  I cut peoples hours, I have to get rid of a few workers, I have to increase the price of my product.

Answer 14

When businesses make record profits and pay hardly any taxes do they hire more workers?  No, they hire workers when they need workers and has nothing to do with profits.  The profits they pocket.

Look on Forbes 400 richest men in America.  The top 5 are the children of Wal Mart.  Does the fact they are worth billions of dollars make them raise wages for their employees?  NO, and they do not have health care or other benefits.  It is an established fact while these miners were working in dangerous mines for min. wage.  The owner gave a 10,000 birthday party for his daughter.  While he lived on the hill in a mansion his employees were living in virtual shacks.

Money does not make employers give their employees more money.

They pay what they are made to pay and not a penny more.

The richest man in the world is from Mexico, and he pays his workers $2. a day.  They have the super rich and the slaves.  Actually they would be better off as slaves, then they would get enough food to eat and clothes and a place to live.  We are rapidly becoming that in the US.  Don't be fooled by big business, they are not on your side.

They are for the rich getting richer and the poor getting less wages.

If they are so concerned about the American people then why do they send businesses over sea's?

One rich business man stated we are shooting ourselves in the foot when we hire people in other countries because then there is no one in the US to buy our product.  The people over seas do not make enough money to buy the product they are making.  Why if big business is so generous?

Answer 15

Think about it

Say you earn under $250,000 you get a tax cut - that's Good it helps people kick of a business

And when your business get going and  you earn $2,000,000 now your taxed extra , somewhere  around another $110,000 - that money goes back into the community to help others, You still doing bloodly well (You'd have to be a nut to file bankruptcy)

Answer 16

Spoken like a true failure. Remind me never to go into business with a self defeatist like you. Business owners don't go into business to fail. We go into business to profit, grow, and contribute to the economy. Everything you are laking. I wouldn't hire you to sweep my floors.