[Rhodes22-list] Tax Question reply for Ben S...

[Tootle]

Ben,

All that you said sounds good, but Obama is saying that he will cut capital
gains taxes to small businesses.  So if you in the 95 % how is he going do
that, Voodoo? (Wasn't that a term some time back?)

Ed K
Greenville, SC, USA
Addendum for Andrew:
Negative advertising 
By Thomas Sowell 

One of the oldest phenomena of American elections— criticism of one's
opponent— has in recent times been stigmatized by much of the media as
"negative advertising." 

Is this because the criticism has gotten more vicious or more personal? You
might think so, if you were totally ignorant of history, as so many of the
graduates of even our elite universities are. 

Although Grover Cleveland was elected President twice, he had to overcome a
major scandal that he had fathered a child out of wedlock, which was
considered more of a disgrace then than today. Even giants like Lincoln and
Jefferson were called names that neither McCain nor Obama has been called. 

Why then is "negative advertising" such a big deal these days? The dirty
little secret is this: Liberal candidates have needed to escape their past
and pretend that they are not liberals, because so many voters have had it
with liberals. 

In 1988, Governor Michael Dukakis of Massachusetts called himself a
"technocrat," a pragmatic solver of problems, despite a classic liberal
track record of big spending, big taxes, and policies that were
anti-business and pro-criminal. 

When the truth about what he actually did as governor was brought out during
the Presidential election campaign, the media were duly shocked— not by
Dukakis' record, but by the Republicans' exposing his record. 

John Kerry, with a very similar ultra-liberal record, topped off by
inflammatory and unsubstantiated attacks on American military men in
Vietnam, disdained the whole process of labeling as something unworthy. And
the mainstream media closed ranks around him as well, deploring those who
labeled Kerry a liberal. 

Barack Obama is much smoother. Instead of issuing explicit denials, he gives
speeches that sound so moderate, so nuanced and so lofty that even some
conservative Republicans go for them. How could anyone believe that such a
man is the very opposite of what he claims to be— unless they check out the
record of what he has actually done? 

In words, Obama is a uniter instead of a divider. In deeds, he has spent
years promoting polarization. That is what a "community organizer" does,
creating a sense of grievance, envy and resentment, in order to mobilize
political action to get more of the taxpayers' money or to force banks to
lend to people they don't consider good risks, as the community organizing
group ACORN did. 

After Barack Obama moved beyond the role of a community organizer, he
promoted the same polarization in his other roles. 

That is what he did when he spent the money of the Woods Fund bankrolling
programs to spread the politics of grievance and resentment into the
schools. That is what he did when he spent the taxpayers' money bankrolling
the grievance and resentment ideology of Michael Pfleger. 

When Barack Obama donated $20,000 to Jeremiah Wright, does anyone imagine
that he was unaware that Wright was the epitome of grievance, envy and
resentment hype? Or were Wright's sermons too subtle for Obama to pick up
that message? 

How subtle is "G-d damn America!"? 

Yet those in the media who deplore "negative advertising" regard it as
unseemly to dig up ugly facts instead of sticking to the beautiful rhetoric
of an election year. The oft-repeated mantra is that we should trick to the
"real issues." 

What are called "the real issues" are election-year talking points, while
the actual track record of the candidates is treated as a distraction— and
somehow an unworthy distraction. 

Does anyone in real life put more faith in what people say than in what they
do? A few gullible people do— and they often get deceived and defrauded big
time. 

Barack Obama has carried election-year makeovers to a new high, presenting
himself a uniter of people, someone reaching across the partisan divide and
the racial divide— after decades of promoting polarization in each of his
successive roles and each of his choices of political allies. 

Yet the media treat exposing a fraudulent election-year image as far worse
than letting someone acquire the powers of the highest office in the land
through sheer deception


benonvelvetelvis wrote:
> 
> Ed,
> 
> The only businesses who pay an income tax (including capital gains) are
> C-corps.  Very, very few "small businesses" are incorporated as C-corps.
> Probably 95+% of us are LLCs, LLPs or S-Corps, which means a variety of
> things, one of which is that we take the business's bottom line profit,
> and
> add that number to our personal income tax.  That's a really simplified
> explanation, but it's basically how it works.
> 
> So all that blather about small business taxes is political bunk.  It
> affects almost no real small businesses.  If they were going to change
> employment taxes or property taxes or sales taxes, they could make a
> difference to the small business owner, but income -- doesn't really
> matter
> too much.
> 
> Speaking of finance, I caught wind that there was a bit of a market
> rebound
> today.  I might be able to retire some day after all.
> 
> Thanks,
> Ben
> 
> -----Original Message-----
> From: rhodes22-list-bounces at rhodes22.org
> [mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of Tootle
> Sent: Monday, October 13, 2008 1:43 PM
> To: rhodes22-list at rhodes22.org
> Subject: [Rhodes22-list] Tax Question for Brad
> 
> 
> Brad,
> 
> Obama is proposing reducing capital gains taxes on small businesses.  Is
> there any capital gains involved in your construction company?  Inquiring
> minds want to know about your capital gains.
> 
> Ed K
> Greenville, SC, USA
> Andrew please note no attachment nor addendum for you this time.
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