That would be Bush's proposal.
2006-12-21 03:00:57 · 21 answers · asked by Snowshoe 3 in Politics & Government ➔ Politics
Tax breaks to businesses who keep american jobs in america would be a good idea. now as long as there aren't any loopholes for businesses like Amway to be considered 'small business' and to be given millions of dollars in tax breaks while simultaneously laying off thousands of americans and shipping those jobs to cheaper labor markets, then yes. I am all for it. But I have seen his history of tax breaks for businesses, and it has ruined the economy in Michigan.
2006-12-21 03:05:50 · answer #1 · answered by hichefheidi 6 · 5⤊ 2⤋
I'm torn. I think the minimum wage increase, being an artificial variable added to a free market by government, will be a disaster for many people. The only winners will be those in the automation industry
If I answer 'no', it's only because I think that it's one more complication added to an already ridiculously complicated tax code. By the time small businesses pay the extra fees to accountants and attorneys, the tax break would be a wash.
If I answer 'yes', its because it is only fair since otherwise, an artificial wage increase is an unfunded mandate on the little guy trying to make a profit.
The reason I'm wishy washy on this is because I'm uncomfortable with the premise of the question which assumes that there should be a minimum wage increase imposed by government, which does not understand the free market, which determines the true value of labor.
It is labor unions who want the min. wage increase, because their wages are indexed on the min. wage. Check out the link below!
2006-12-21 03:21:13 · answer #2 · answered by Curt 4 · 0⤊ 1⤋
It always sounds like the right thing.
But take the time to find out what a small business is. The Government says it is a business that makes more the $25million and less than $125million. a year,
The local dry cleaners or your neighborhood deli are what is called Micro Business. Not subject to SBA funds or assistance. Sure some micro loans are available from NGO's but as for Uncle Sam No way Jose.
You want a small business tax cut then show me 25 mill in sales.
With Forbes and Business weekly both predicting as many as 20% of Americans mortgages going into receivership in 2007 Cutting taxes for the people with 4 or 5 Million dollar houses would sure help the RNC agenda.
If I was the owner of a Velcro Army holster company and had overextended my line of credit to make a personal 7 digit income from my no bid open end holsters contract. A Tax cut would make a believer out of me.
Go big Red Go
2006-12-21 03:23:27 · answer #3 · answered by Anonymous · 2⤊ 0⤋
Bush wouldn't ever consider a proposal like that. If he was to bargain a wage increase for a tax break, it certainly wouldn't be for SMALL business but for large corporations. Watch and see!
2006-12-21 05:32:37 · answer #4 · answered by Do You See What Happens Larry? 5 · 1⤊ 0⤋
No. An increase will mean a small increase in taxes paid on wages for some, but not enough to cause a cry for tax breaks for small businesses, since it is big businesses who also have to comply, and that means big business would scream bloody murder if they were not at the same advantage. To be fair, the indivdual tax credits should be continued, not adjusted due to rise in income because of the increase
2006-12-21 03:08:31 · answer #5 · answered by Anonymous · 2⤊ 2⤋
According to NPR less than 3% of the workforce will even be effected by the minimum wage increase and the majority of them are single, entry level employees(under 200, who are just working to make a few extra dollars while going to school.
The plant I work in (It's in Arkansas by the way. Not noted for high wages) has starting pay that is a dollar over what the new minimum wage will be after two years.
But you can bet the Democrats will swear this increase is the greatest thing since sliced bread. come next election.
2006-12-21 03:10:11 · answer #6 · answered by namsaev 6 · 1⤊ 3⤋
yes but it doesn't matter what they raise it to The people on minimum wage are still considered " Poor". I am sure the pres will do good look how much good he has done for big business
( sent them overseas and gave them tax breaks) Theres not enough small business lobbyist to payoff and bribe congress to help tax breaks
2006-12-21 03:39:07 · answer #7 · answered by I race cars 4 · 1⤊ 0⤋
And it absolutely should be. Who pays minimum wage to their employees? The local pizza restaurant that's not Domino's or Papa John's. What people seem toi not realize is that the only companies that pay minimum wage are small businesses. They are the only people hurt by a minimum wage increase. Wal-Mart does not pay minimum wage. McDonald's does not pay minimum wage. Large companies start employees out at $7-8/hour because of competition they cannot afford not to. So do small business employers deserve a bit of a tax break for minimum wage hike, YES! And by the way a min. wage hike does not help those employees of McDonald's and Wal-Mart because they are still going to make $8/hour. Thanks and have a nice day.
2006-12-21 03:12:14 · answer #8 · answered by Anonymous · 0⤊ 3⤋
I'd like more specifics about the tax breaks for small business. The last tax break he gave to small business was for vehicles over 6,000 lbs-which turned out to be a credit for huge SUVs-up to $100,000. My boss bought two brand new vehicles that year which brought her taxable income down the same amount. And then used the vehicles for commuting. While that stimulated the economy for the oil companies & automakers, I'm not sure it trickled down to the rest of us like many small business tax breaks would(like health insurance tax breaks, for instance)
2006-12-21 03:17:39 · answer #9 · answered by Middleclassandnotquiet 6 · 1⤊ 1⤋
People have this idea that just because you own a business you are wealthy. Not true. Most small businesses need all the help they can get. Raising minimum wage hurts their margins. A tax break is a great idea.
2006-12-21 03:12:01 · answer #10 · answered by only p 6 · 0⤊ 4⤋