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Tonight's Debate

Discussion in 'Alley of Dangerous Angles' started by dmc, Oct 9, 2004.

Page 2 of 2

  1. Rednik Gems: 21/31
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    Yes, Ankiseth Vanir is correct. My point about the lie is that it's so damn easy to be classified as one of those small businesses in grave danger because of Kerry's tax plan.
     
    Rednik, Oct 10, 2004
    #21
  2. Blackthorne TA

    Blackthorne TA Master in his Own Mind Staff Member ★ SPS Account Holder Adored Veteran Pillars of Eternity SP Immortalizer (for helping immortalize Sorcerer's Place in the game!) New Server Contributor [2012] (for helping Sorcerer's Place lease a new, more powerful server!) Torment: Tides of Numenera SP Immortalizer (for helping immortalize Sorcerer's Place in the game!)

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    In this case, I think they are both being misleading. Kerry is pointing out that he wants to take away the tax cuts from the people making $200,000 or more as if this will only affect the rich. Bush is correctly pointing out that it will affect small businesses, not just rich individuals. His number of 900,000 small businesses being affected is certainly an exaggeration though.
     
    Blackthorne TA, Oct 10, 2004
    #22
  3. Aldeth the Foppish Idiot

    Aldeth the Foppish Idiot Armed with My Mallet O' Thinking Veteran

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    I agree that there is no possible way that there are 900,000 small business owners all making in excess of $200,000. However, it should be noted for tax purposes that you still qualify as a "small business" if you take in less than $10 million in revenue. So you can be not so small and still be considered a "small business".

    I also have to agree that the point Kerry was attempting to make is that if you own stock in a given company, and that stock pays you a dividend, you are considered a "small business owner". So by this definition, yes, there are hundreds of thousands of small business owners across the U.S.

    Heck, if my stocks don't turn around this year, I can apply for a business loss on my tax returns for next year. I just received the results from my stocks on the 3rd quarter, and I'm down $78 for the year. So technically, I lost money. Of course, it's more than possible that I will make more than $78 in the 4th quarter, in which case it won't be a business loss, but the point is, the 900,000 number that Bush throws out over-states the issue.

    Also, there needs to be a differentiation between revenue and profits from small businesses. Almost all small business have in excess of $200,000 in revenue. Revenue is the total money that a company takes in. However, the small business owner is only taxed on his profits, which are always less than his revenues. To get your profits, you deduct from your revenue your expenses, which include things like employee salaries, equipment, supplies, and even things like electricity that you need to run your business.
     
    Aldeth the Foppish Idiot, Oct 12, 2004
    #23
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