Not too worried, was out of work for 16 months until May. Now I’ve joined the enemy…work for the investment arm of a large bank. My job isn’t going anywhere unless I really screw something up. Plus if it does, as long as I’m employed for 9 months, I should be able to start a new unemployment account and still get the maximum benefit…I’ve lived through it before, I could live through it again if I had to.
As for this hysteria about Obama “raising” taxes, regardless of whether you think of it as a tax hike or the reinstatement of taxes that were previously given irresponsibly, fact is corporate taxes, even if they are raised by 4.5% total, don’t strike me as quite the hardship @Cruiser is making it out to be.
I know it’s “easy for me to say” when I don’t own a business, but I have been an accountant for 17 years, and I do know that corporate taxes are paid on corporate profits. Ergo, unless your business is profitable, meaning AFTER you’ve paid ALL your expenses, INCLUDING the salaries of all your employees (yourself included), if you STILL have money LEFT OVER, it is taxed. So the idea that losing 4.5% of your net profits after all expenses are paid is keeping people from growing their businesses is absurd.
Consider that if you look at the other knee-jerk reaction right wingers pull out when it’s suggested that some things maybe would be cheaper if better regulated by the government (such as health care, the other big scary issue keeping @Cruiser up at night) is that investment is what it’s all about, you invest money in something because you want to turn a profit…if you’re not invested in it and it’s just an “entitlement” it leads to waste because the bottom line doesn’t affect anyone. Well, seems to me that based on both this argument, and what logic itself would dictate, you are not going to invest or not invest in expanding your company simply due to the tax issue. In fact, investing in your company would drive UP your expenses and drive DOWN your tax liability, and bottom line is, you WILL find a way to expand your business if there is money to be made in so doing. You expand because you can make MORE money, not because your taxes are going up or down. Yes, taxes are a component of the total cost of ANY business decision, but these people who cry foul when their taxes might be raised, just to make them pay the same as a percentage of their income as everyone else, constantly overstate the bad, ignore the good and make mountains out of molehills.