Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’

[carpro]

You start. Prove that 99.7% of all employer firms are small businesses.

That's the easiest, but I see Mandy has already proven it.

You said all 3 were lies. You didn't suggest it or question them. You said flatly they were all lies.

The tells me you have information to the contrary, so let's see it.

We already know you're all wet on one. You might salvage your credibility by providing the other 2.

If not... oh well.

 

[InTheLight]

OK, I concede the point that the SBA considers some businesses with up to 500 employees to be a 'small business.' However, the small businesses that we are discussing with owners that would be affected by increasing the upper bracket tax tables are those types that have pass-through income from their business to their personal tax returns. These types of businesses are S-Corps and partnerships. When Geithner says that only three percent of small businesses will be affected by raising the top tax rate he is referring to S-Corp and partnerships whose owners earn more than $250,000.

Those 3% provide the majority of the jobs generated by small businesses.

This is incorrect. The owners that fall into this 3% category are lawyers, accountants, dentists, doctors, plumbers, etc. They are usually solo operators or may have an admin assistant. They are NOT employing 100's of people.

Most small business owners are taxed on profit, not take home

This may or may not be true, it depends on the tax filing status of the business. The answer depends on how many small businesses are sole proprietorships. Here again, sole proprietorships are not big employers. Typically the owners employ family members. Looking at Mandym's post where he said:

In 2009,there were 27.5 million businesses in the United States, according to Office of Advocacy estimates.The lastest available Census data show that there were 6.0 million firms with employees in 2007 and 21.4 million without employees in 2008.

would support the contention that most small businesses are solo operations.

How many exactly is 3%, considering 99.7% of all employer firms are considered small businesses?

Using Mandym's number of 27.5 million small businesses, then 3% of those would represent 825,000 entities.

 

[mandym]

Using Mandym's number of 27.5 million small businesses, then 3% of those would represent 825,000 entities.

Not my numbers, they belong to the SBA.

 

[carpro]

This is incorrect. The owners that fall into this 3% category are lawyers, accountants, dentists, doctors, plumbers, etc. They are usually solo operators or may have an admin assistant. They are NOT employing 100's of people.

So now you've shown that you are all wet on two of them.

Where is your proof that the other is ...incorrect? Hmmm...Now it's only "incorrect". It was a flat out lie earlier, just like the others

Just your saying it is doesn't make it so. You said the others were lies and now we all know they weren't.

I'm still looking for you to salvage what little credibility you have left. It's beginning to look like you don't have any.

 

[InTheLight]

So now you've shown that you are all wet on two of them.

Where is your proof that the other is ...incorrect? Hmmm...Now it's only "incorrect". It was a flat out lie earlier, just like the others

Just your saying it is doesn't make it so. You said the others were lies and now we all know they weren't.

I'm still looking for you to salvage what little credibility you have left. It's beginning to look like you don't have any.

I think it is up to you to prove that 3% of small business owners provide the majority of jobs generated by small businesses. Please quit being so abrasive.

 

[carpro]

I think it is up to you to prove that 3% of small business owners provide the majority of jobs generated by small businesses. Please quit being so abrasive.

And you don't think accusing me of posting lies is "abrasive"?

I hope you're enjoying the crow.

I'd say you owe me an apology, but any apology you issued would be worth about as much as your credibility.

Zero.

 

[InTheLight]

And you don't think accusing me of posting lies is "abrasive"?

I hope you're enjoying the crow.

I'd say you owe me an apology, but any apology you issued would be worth about as much as your credibility.

Zero.

So are you going to show proof that 3% of small business owners provide the majority of jobs created by small businesses? Otherwise, you can join me at the crow table.

 

[billwald]

>>>Most small business owners are taxed on profit, not take home

>>http://www.irs.gov/taxstats/bustaxst...=96405,00.html

>>The majority of businesses are s-corps. S-corps pay no taxes. All profits and losses are passed through to the stockholders.


>Proof of exactly nothing.

Proof that most small businesses don't pay income taxes.

 

[carpro]

So are you going to show proof that 3% of small business owners provide the majority of jobs created by small businesses? Otherwise, you can join me at the crow table.

I've got it, but I wouldn't even consider showing it to you. You said it was a LIE... not incorrect or questionable...but a lie. You've been proven wrong on 2 out of 3.

So prove it.

A word to the wise should be sufficient. If you call someone a liar on this board, you'd better be able to prove it. Otherwise don't let your mockingbird mouth overload you hummingbird behind or, as now, you'll be made to look like a fool.



This is my last comment on this matter until you do.

 

[InTheLight]

I've got it, but I wouldn't even consider showing it to you. You said it was a LIE... not incorrect or questionable...but a lie. You've been proven wrong on 2 out of 3.

I did not call you a liar, I said the statements were false. I assumed you did not have the correct information.

Your contention that I called you a liar is the same as the liberals saying "Bush lied" about Iraq and WMD's. Do you believe that Bush lied? Or was he lacking correct information?

So prove it.

You are asking me to prove something I don't believe to be true. The burden of proof is on you.

Nevertheless, it should be obvious to anyone that accepts the SBA numbers that Mandym posted that 3% of small business owners do not and could not create the majority of small business employment.

The numbers say that there were 6.0 million firms with employees in 2007. Three percent of 6 million is 180,000. That means, according to your contention, that 180,000 small businesses are responsible for the majority of small business employment. Can you prove this?

 

[InTheLight]

The numbers say that there were 6.0 million firms with employees in 2007. Three percent of 6 million is 180,000. That means, according to your contention, that 180,000 small businesses are responsible for the majority of small business employment. Can you prove this?

I guess not. It's been 4 days and no proof.