Quote:
Originally posted by phyzix525
I cut and pasted it, since you obviously did not read it I will say it again. As a small business owner I make 100,000 for the year. but I have expenses for running that business. they come out to 50,000. therefore I have made a profit that year of 50,000 for which I should be taxed. the same 100,000 made as a salary does bnot have operating costs and should be taxed on the whole amount. now that is en example of a "loophole" as you call it. it is needed and must stay in place or you put all small business under.[/I]
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Neither of those are the types of loopholes that I am referring to, and you know it. There is a huge difference between a tax incentive and a tax loophole. An incentive is like what you said--a state, or county, or city providing a tax break to a factory that will provide jobs and boost the economy. I dont have a problem with that. It is better for the economy, and in the long run, brings in more money than is lost.
What I do have a problem with is, say, saying that hog farmers now have to pay lower taxes than, say, beef ranchers. *That* is a tax loophole put into place through special interest groups. Or getting out of paying taxes on profits made by foreign workers by claiming they were "foreign profits."
Furthermore, reporting your $50,000 profit isnt a tax loophole--its simple economics. Your profit was $50,000, the guy with a $100,000 salary had $100,000 in profit. Both should be, and are taxed accordingly.
Quote:
Originally posted by phyzix525
How else are you going to get a job sailor since you would obviously bancrupt any small business you run?
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Look, you have been asked to stop making personal attacks a couple times already. It is cause for being banned--it says this clearly in the rules at the top of the forum.