Originally Posted by cannonball996
there is no trickle down, its just the opposite, the tax credits are given to the lower income earners, they can then spend the money
Well by Obama's plan he is helping out the poor and middle class, which by his own words are struggling. Well by his tables the average person will get a $500-$1200 check in the mail. These persons who are struggling to make ends meet really going to spend this money at my business?
OR would it be better to not raise taxes on anyone, give almost the equal amount of breaks for the actual middle class that are paying taxes, and for the upper class and small business owners who do actually contribute more to the economy the breaks that allow them to invest, spend, and expand???
Oh an here is an example of a "SMALL BUSINESS"
My best friend owns his own company with his family. Last year they were "struggling" due to the poor economy. They had to cut hours in half, and lay a few people off. Well they, being a "small business", generated $7.9 million last year in revenue. Their clients are not small corporations, exactly the oposite. EDS, Us Foods, Ben E. Keith, Cysco.....
Well under Obama's new plan his already stressed business will have a tax INCREASE of almost $800k
They are not rich, I would guess he made around $300k last year. Which again he would taxed increased on that as well. He has mortgages and bills that must be paid. Revenue is not increasing, bills are. What is going to happen? He is going to be forced to lay people off, cut hours, cut benifits. BUT one thing is good. All his workers got a new system in their car and a new pair of Jordans, and took their old lady to Red Lobster. The Obama tax cut for the middle class is blown in one day, and the economy takes years to recover....