Restoring Top Tax Rates Makes Sense for Small Business

[Joanne98]

Job Growth Better With Top Rates From 1990s—Longest Boom in U.S. History
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It makes good business sense to let temporary tax rates for the highest income brackets revert to 1990s levels on January 1, 2011 as scheduled. Congress should not let Wall Street and big business CEOs hide behind small business to justify a budget-busting $700 billion tax giveaway over the next decade that would be even more harmful for Main Street than it was the last decade. Instead, Congress should build on constructive action like the Small Business Jobs Act.

"LETTING high-end tax cuts expire is a good business decision. Boosting our local economy by helping real small businesses create jobs should be our goal. We can either cut taxes for CEOs and Wall Street traders whose quick-buck speculation and outsourcing gave us the worst economic crisis since the Great Depression or we can invest the money to generate more customers for small businesses by keeping teachers, police officers and other Americans working and rebuild the crumbling transportation and energy infrastructure businesses depend on.”
— Frank Knapp, CEO and President, South Carolina Small Business Chamber of Commerce.

Everybody Still Gets Tax Cuts: Well-off families keep tax cuts on their first $250,000
If the top rate tax cuts expire on schedule for couples with taxable income over $250,000 and individuals over $200,000, they will still keep tax cuts on the portion of their incomes below those thresholds if Congress extends the “middle-class tax cuts” applying to the lower brackets. High-income households will actually get thousands of dollars more than middle-income households from the “middle-class tax cuts.” The congressional Joint Committee on Taxation estimates that extending just the middle-class tax cuts would provide more than $6,300 in tax cuts to households with incomes above $200,000, on average, compared to $916 for those between $40,000 and $50,000 (median income fell to $49,777 at last measure).

It’s important to remember taxpayers don’t pay the same rate on their first dollars of taxable income as they do on their last. If rates reset to 36% and 39.6% for the top two brackets, high-end taxpayers will stay pay a 10% rate for the portion of taxable income falling within the first bracket, 15% for the portion in the second, 25% in the third and 28% on the portion in the fourth bracket.

Top rates would be same as during longest economic expansion in U.S. history
The top rates would revert back to the levels they were between 1993 and 2000 during the boom. Because of the middle class tax cuts, everybody, from bus drivers and small business owners to billionaires, will still pay less income tax than in 2000, when there was a budget surplus.

Small business hiring is driven by customer demand, not tax rates

http://www.businessforsharedprosperity.org/Resources/Restoring+Top+Tax+Rates+Makes+Sense+for+Small+Business

[90-percent]

1. Corporate influence on government

I would like to apply a little transparency to an aspect of "special interest" politics, in this age of Citizen's United;

Isn't it mostly true that CORPORATIONS, when they notice a SMALL BUSINESS doing a great job, that starts encroaching on to the CORPORATIONS PLAYGROUND, that CORPORATIONS use their un-righteous might to SMASH THE LITTLE GUY?

In other words, aren't POWERFUL INFLUENTIAL CORPORATIONS threatened by a little guy trying to punch their way into creating a VIABLE BUSINESS? Does not the powerful SPECIAL INTERESTS do everything they can to crush a potential future competitor before they've even hatched into a full blown business?

All corporations seem to do what ever is needed to become legal monopolies, therefore they may not want a thriving "small business" movement in the USA?

They don't want us to be ENTREPRENEURS, they really want all of us to become LIFELONG CORPORATE SERFS!

Please discuss, I am far from an expert on the subject.

-90% Jimmy