What question do want someone to answer and while your thinkin about it, what will be tonight's winning powerball numbers. Come on, I honestly want to know.

 

 

Run to State's original one "What real changes do you really, honestly believe he (Obama) will accomplish?"

 

Can't help with the Powerball numbers, but they might be easier to see without rolling your eyes so much??

There currently is no cap on Medicare.

 

As a self employed business owner who is currently above the FICA cap I'll be the first to let you know I'm not in favor of it. For those of us who are self employed, we pay 12.4% in Fica and 2.9% in Medicare, double what employees pay. I have actually run the numbers utilizing my tax software, and beginning at around $60,000 (for my personal situation) I enter an effective tax rate of 51.2% counting Fed, State, FICA/MC, and local taxes. However, I know that once I hit the FICA cap, that effective rate then falls back to approximately 40% which is MUCH more acceptable in my mind. Without the cap in place, the effective combined tax rate would next go to approx 55.1% as my income increases (using the current federal rate of 31%). I will flatly state that if the FICA cap is raised, I will immediately fire an employee to compensate for this increase because currently I don't mind staffing my office above the minimum necessary to operate. With the increased tax burden, I will operate my business in a much different manner.

 

I am willing to bet my life savings that MANY self-employed business owners will behave in exactly the same manner. Raising the FICA cap is probably one of the dumbest ideas I have actually heard from a standpoint of how it will affect job creation/retention amongst the small business community.

 

You are correct on the first bolded. My mistake on Medicare.

 

On the second bolded, I assume that you are a contributing employer, for unemployment insurance purposes, rather than a reimbursing employer.

 

On the final bolded, are there truly that many employees of small businesses earning significantly more than $102,600 (or whatever the max is these days)?

The country also spoke loud and clear two years ago when they put the radical left in charge of congress. A congress that currently has an 8% approval rating mind you.

 

And the Democratic majority in the House and the Senate increased yesterday. Makes me wonder which members of Congress aren't meeting with the approval of John Q. Public.

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Might be a good idea to wait until he's President. Bush will go down as the worst ever I believe.

 

I posted an article on here that the citizens of the USA thought Truman was the worst President ever as he left office.

 

50 years later and history views Truman much, much different.

 

I sure hope that Obama is treated better by those that opposed him than Bush has been treated by those that opposed him.

You are correct on the first bolded. My mistake on Medicare.

 

On the second bolded, I assume that you are a contributing employer, for unemployment insurance purposes, rather than a reimbursing employer.

 

On the final bolded, are there truly that many employees of small businesses earning significantly more than $102,600 (or whatever the max is these days)?

 

Contributing employer yes. You only pay SUI in KY on the first 8,000 you pay in wages to each person and my reserve is more than adequate to handle one dismissal.

 

I'm not talking about FICA for employee wages, I'm talking about the FICA of the owner, who will see a more than significant increase in his/her tax burden given that the owner is subject to 12.4% instead of the 6.2% that employees pay.

There currently is no cap on Medicare.

 

As a self employed business owner who is currently above the FICA cap I'll be the first to let you know I'm not in favor of it. For those of us who are self employed, we pay 12.4% in Fica and 2.9% in Medicare, double what employees pay. I have actually run the numbers utilizing my tax software, and beginning at around $60,000 (for my personal situation) I enter an effective tax rate of 51.2% counting Fed, State, FICA/MC, and local taxes. However, I know that once I hit the FICA cap, that effective rate then falls back to approximately 40% which is MUCH more acceptable in my mind. Without the cap in place, the effective combined tax rate would next go to approx 55.1% as my income increases (using the current federal rate of 31%). I will flatly state that if the FICA cap is raised, I will immediately fire an employee to compensate for this increase because currently I don't mind staffing my office above the minimum necessary to operate. With the increased tax burden, I will operate my business in a much different manner.

 

I am willing to bet my life savings that MANY self-employed business owners will behave in exactly the same manner. Raising the FICA cap is probably one of the dumbest ideas I have actually heard from a standpoint of how it will affect job creation/retention amongst the small business community.

 

You have hit the nail on the head.

 

I am not kidding you, my partner and I today discussed, in a serious manner, which two of our ten staff people would be fired.

Run to State's original one "What real changes do you really, honestly believe he (Obama) will accomplish?"

 

Can't help with the Powerball numbers, but they might be easier to see without rolling your eyes so much??

 

 

I believe there was some answers given, remember there's only a hand full of Obama supporters on here.

Wow..Alot of haters for Obama. I voted for him, if McCain would have won I would have backed him as President, some of you guys need to do the same. Support Obama. Period.

 

Not just Obama haters. Apparently, anyone who supported Obama is now one of "them". Someone shake me. Am I in Salem? Is it 1692?

I think you guys are over-reacting a bit. First of all, hate is an awfully strong word to use for people who dislike Obama's policies. The use of the word "them", as I understood the post, simply meant those that voted for him. Why make such an outlandish comparison as the Salem Witch Hunts?

 

BBI, we know what we need to do, we don't need you telling us what to do. Some of us are just fine with waiting to see how he performs. As many have said, we can't support the majority of things he campaigned on. So, if it's OK with you, we'll wait and see what he does first.

Wow...ten minutes to answer a question in a sea of 8000 new threads. I thought I was going to be rushed! :lol:

 

I hope that his policies will lead to a larger investment in renewable energies.

 

I PRAY that he will do away with or drastically reform No Child Left Behind act.

 

I hope that he will re-establish weakened lines of communication to those countries that are our allies and that he will work to keep peace with those countries that do NOT like us.

 

I hope that he will be able to decrease the number of people that do not have healthcare.

 

I hope that he is able to promote the BEST healthcare for our wounded troops and military veterans. They deserve it!

 

These are some of the highlights, not many details (hard to do that in a ten minute window ). If he can accomplish at least half of this, I will be pleased.

 

Question for the NON-Obama voters (and RTS, if you want me to move this to another thread, I will gladly do so)...

 

There are a multitude of things that you disagree with Obama about. Let's say, for example, that he chooses to promote off-shore drilling. Will you A) support him or B) complain about him flip-flopping? In short, will you support him if he does find it necessary to change from his platform stances?

 

I will say 'Atta boy' (so I guess that is A = Support Him)! :thumb:

 

If he changes his stance on the Freedom of Choice act, I will know that my prayers have been answered.

He'll bring home our troops! That way he we can fight on American Soil!

 

He's also going to be your average ordinary everyday Robin Hood. He's going to take from the rich (Or well off) and give to the poor!

 

 

I don't know about you folks... but i'm excited!

 

 

 

 

Robin Hood actually took from the government, didn't he?

If Obama does a 180 and takes on a conservative stance on the issues, then I will support him. If not, I'll be the first in line to criticize every single wrong move he makes, much like the Dems did with Bush.

 

Thats the problem with our country, and the reason why I'm fearing for our future. We need to stop beind so divided. He is our leader. Sure, we have the right to disagree with what he says, but give him the benefit of the doubt in the beginning. It made me sick to see how people acted towards Bush. Sure, he wasn't the greatest president probably, but he still was OUR president! There has to be a level of respect there, regardless.

Didn't vote for him because I didn't think he could lead this country. With that said, I hope he's the best president ever...

Ok Bush did no wrong in the voice of many people on this thread. How can you say that Obama did not get hammered on this site is beyond me?

 

Please find one person who's said that, just one.

Yes and they spoke loud and clear electing Bush twice who has the lowest approval rating in history.

 

No, Truman's was lower. Bush does have the highest disapproval ratings in Gallup polling history though.

No, Truman's was lower. Bush does have the highest disapproval ratings in Gallup polling history though.

 

Didn't Lincoln have awful approval ratings also? Turned out okay to me. You can't really see how a president has done until about 30-40 years after his office IMO