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| Re: ''Don't let anybody tell you that businesses create jobs'' (1236258) | |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by AEM-7AC #901 on Sun Oct 26 15:05:52 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 07:28:34 2014. IIRC, isn't the example on Indiana relying on the communities to fund the service? It isn't that much different than paying First Transit or Veolia to operate a local bus system.FWIW, admittedly, the private sector can get away with certain things as they can pay "low wages" when compared to Amtrak or other public transit operators. |
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| (1236619) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by salaamallah@hotmail.com on Sun Oct 26 15:59:46 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by AlM on Sun Oct 26 15:01:20 2014. the WAR industry is out of control ! |
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| (1236622) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Dave on Sun Oct 26 16:49:20 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by salaamallah@hotmail.com on Sun Oct 26 15:59:46 2014. Explain how and why. |
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| (1236624) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 16:55:24 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by SelkirkTMO on Sun Oct 26 13:20:28 2014. Leave accounting to your CPA and/or tax attorney, Selkirk. It's not your strong suit.You get to reduce self-employment income by half of the self-employment tax before applying the tax rate. For example, say that your net self-employment income is $50,000. That's the amount you report as taxable for income tax purposes on Form 1040. But when figuring your self-employment tax on Schedule SE, Computation of Social Security Self-Employment Tax, the taxable amount is $46,175. Not paying the 15.3% tax on $3,225 difference in this example saves you $493. You also can claim 50% of what you pay in self-employment tax as an income tax deduction. |
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| (1236625) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 16:59:18 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by AEM-7AC #901 on Sun Oct 26 15:05:52 2014. But the communities are still paying a private operator to operate the system.Any lower wages are due to the lack of an existing union bargaining agreement with employees. |
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| (1236627) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by AlM on Sun Oct 26 17:15:17 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 16:55:24 2014. You are totally correct. It's not double. It is however close to double. |
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| (1236628) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 17:20:05 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by AlM on Sun Oct 26 17:15:17 2014. Close only counts in horseshoes and hand grenades....*BG* |
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| (1236629) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by salaamallah@hotmail.com on Sun Oct 26 17:46:09 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by Dave on Sun Oct 26 16:49:20 2014. you dont know ?of course you are in texass typical |
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| (1236631) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 17:58:54 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 16:55:24 2014. That's why we pay an attorney for that. I'm happy to just do the code, thank you. :) |
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| (1236632) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Dave on Sun Oct 26 18:31:28 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by salaamallah@hotmail.com on Sun Oct 26 17:46:09 2014. Explain exactly what military programs are out of control, and why. |
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| (1236633) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 18:33:22 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by SelkirkTMO on Sun Oct 26 17:58:54 2014. Why then make a post about the impact of self-employment taxes when you admit you don't know the correct answer? |
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| (1236634) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 18:50:09 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 18:33:22 2014. Because that's what I was told. Please specify the education and degree requirements specifically required for OTchat, and we'll have those who did not satisfy their educational requirements, licenses and certifications arrested for fraud.Turning into a turtle now, are we? :( |
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| (1236635) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by salaamallah@hotmail.com on Sun Oct 26 19:03:33 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by Dave on Sun Oct 26 18:31:28 2014. the entire defense budget is out of control |
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| (1236636) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by AEM-7AC #901 on Sun Oct 26 19:06:18 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 16:59:18 2014. As I noted in previous posts, I tend to make a difference between private operator that serves as a contractor for a publicly funded service, and an operator that gets no direct subsidy and pays for their capital costs...As for the wages, it's an interesting issue as I've jokingly said that the ideal situation would be the low costs of the private sector but with government operation so that any profits are reinvested into improving service. Mind you, it's highly unlikely that would ever happen. Even without a union, it's unlikely that you'd see Amtrak pay what a private operator would pay because there's an expectation that the government shouldn't pay low wages. |
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| (1236638) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Sun Oct 26 19:43:07 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 07:28:34 2014. So your proff that private enterprise can run passenger trains is a train that doesn't exist and a train that's run by the government. |
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| (1236639) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by Nilet on Sun Oct 26 19:43:09 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by Olog-hai on Sun Oct 26 13:26:05 2014. I have family in Britain who haven't paid US taxes for years because they get credit for having paid British taxes. |
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| (1236640) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Sun Oct 26 19:43:11 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Charles G on Sun Oct 26 09:16:52 2014. Mostly through taxes.Now where do you think businesses get the money to pay for anything? |
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| (1236641) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Sun Oct 26 19:43:12 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Spider-Pig on Sun Oct 26 10:19:32 2014. I've never heard debt collection described in that manner.However, I have heard taxation described in that manner by people who actually believe it is robbery. |
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| (1236643) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Train Dude on Sun Oct 26 19:54:48 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 18:33:22 2014. Because that's the way the boy rolls. |
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| (1236645) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Spider-Pig on Sun Oct 26 19:59:18 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Nilet on Sun Oct 26 19:43:12 2014. Why not? Debt collectors often use harsh tactics. |
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| (1236647) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by AlM on Sun Oct 26 20:00:35 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Train Dude on Sun Oct 26 19:54:48 2014. Selkirk was off by about 7% when he said "pay double." You were off by hundreds of percent when you compared the influx of illegal aliens under Obama with that under Reagan, because you mixed up the influx and the total number. |
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| (1236651) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Dave on Sun Oct 26 20:15:19 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by salaamallah@hotmail.com on Sun Oct 26 19:03:33 2014. So you would spend nothing on defense? What programs would you eliminate? |
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| (1236652) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Fred G on Sun Oct 26 20:16:18 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by AlM on Sun Oct 26 20:00:35 2014. And you were off by 100% because you insist on a single standard when at OTChat there is a double standard :)your pal, Fred |
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| (1236653) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 20:17:31 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Fred G on Sun Oct 26 20:16:18 2014. I'm beginning to believe that there is no standard. Other than the old subway rule of "the craziest bastard on the car gets the seat." :) |
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| (1236654) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 20:17:41 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by SelkirkTMO on Sun Oct 26 18:50:09 2014. You miss my point. As usual you slam the system, claiming it's unfair or discriminatory, etc., when your unfamiliarity with the tax code leads you to an incorrect assumption. |
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| (1236655) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Sun Oct 26 20:24:05 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Spider-Pig on Sun Oct 26 19:59:18 2014. Yes, but everyone generally agrees that a creditor has the right to collect a legal debt while a small contingent of people believe the government does not have a right to collect taxes. I have never heard someone describe taxation as "ordered to pay against their will by threat of violence" or similar phrasing who didn't believe taxation was illegitimate. |
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| (1236656) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Sun Oct 26 20:24:25 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Fred G on Sun Oct 26 20:16:18 2014. :) |
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| (1236657) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Nilet on Sun Oct 26 20:26:17 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by Dave on Sun Oct 26 20:15:19 2014. I can't speak for Salaam, but I'd end the wars and look towards closing military bases in foreign countries, scrap the nuclear weapons, and drastically reduce the size of the standing army. |
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| (1236658) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Spider-Pig on Sun Oct 26 20:27:35 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Nilet on Sun Oct 26 20:24:05 2014. Now you have. |
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| (1236660) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Sun Oct 26 20:30:07 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Spider-Pig on Sun Oct 26 20:27:35 2014. Indeed. Now I have. |
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| (1236662) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 20:44:48 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 20:17:41 2014. And you miss mine ... it IS. We once had a fair and graduated tax system before Regan and friends came along. It provided for the general welfare, infrastructure, education and good paying jobs. While you sit there and spout how great that republican revolution was, has anyone noticed what the prospects are for their offspring or their grandchildren? In this day and age we're arguing that $15.00 an hour with what things cost today is an excessive wage and that the very rich should pay nothing and the very poor foot all the bills?Sorry ... |
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| (1236663) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Train Dude on Sun Oct 26 20:47:02 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by AlM on Sun Oct 26 20:00:35 2014. I was not off by anything. Italian scallion made the comparison between Reagan and Obama. My numbers were correct. Don't like it - take it up with him |
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| (1236664) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Fred G on Sun Oct 26 20:49:23 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by SelkirkTMO on Sun Oct 26 20:44:48 2014. The Reagan Revolution killed this country.your pal, Fred |
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| (1236666) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Train Dude on Sun Oct 26 20:50:29 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Fred G on Sun Oct 26 20:49:23 2014. LOL |
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| (1236667) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 20:54:46 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Fred G on Sun Oct 26 20:49:23 2014. Yeah, but China didn't have to fire a single shot. Even the French made the effort to wave a white flag first. |
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| (1236668) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 20:55:11 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by AlM on Sun Oct 26 20:00:35 2014. Not correct.Assume you're an employee making $35,000. Employers are required to subtract taxes from an employee's pay and to remit those taxes withheld to the government as a payment of tax on behalf of the employee. Employees then claim a credit for the amount of tax withheld from the actual calculated tax liability when filing a return. Your Social Security and Medicare taxes are $2,677.50 ($35,000 x .0765%). Your Adjusted Gross Income is $32,332.50. Assuming no other deductions, exemptions, etc., if you're in the 25% tax bracket your tax liability is $8,083.13. Self -employment tax is 15.3% of earnings. You can claim 50% of what you pay in self-employment tax as an income tax deduction. For example, a $1,000 self-employment tax payment reduces taxable income by $500. In the 25% tax bracket, that saves you $125 in income taxes. This deduction is an adjustment to income claimed on Form 1040, and is available whether or not you itemize deductions. Now assume you run a business as a sole proprietor. In 2014 your net profit as reported on Schedule C is $35,000. Your net earnings as calculated on Form SE would be $32,323 ($35,000 x 0.9235). Your self-employment tax would be $4,945 (32,323 x 0.153) and you would report that amount on Form 1040 in the "Other Taxes" section. Then you would report one-half of your self-employment tax, $2,473, ($4,945 X .50) on Form 1040 as an adjustment to income, which reduces your Adjusted Gross Income and the amount of income tax you owe. Your AGI is $35,000 - $2,473 = $32,527. Again, assuming no other deductions, exemptions, etc., if you're in the 25% tax bracket your tax liability is $8,131.75. The difference in federal income tax liability between being self-employed and being an employee in this example is $48.62, or just over one-half of one percent. It's not "almost double" after taxes are calculated. |
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| (1236669) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Dave on Sun Oct 26 20:56:37 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by Nilet on Sun Oct 26 20:26:17 2014. You're right, you're not Salaam. I asked him not you for his explanation since he's stated the "war industry is out of control." |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 20:57:49 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Train Dude on Sun Oct 26 20:50:29 2014. LOL is right! |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 21:00:14 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 20:55:11 2014. I was talking about the social security tax contribution, not income. Please tell me you haven't caught Train Dude reading disorder. |
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| (1236672) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Train Dude on Sun Oct 26 21:01:12 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 20:55:11 2014. SO AlM was off by about 1300% when he said 7%? |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 21:05:06 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Nilet on Sun Oct 26 19:43:07 2014. Florida East Coast does exist, it's their passenger rail service that's still under development. They've already ordered five trainsets. |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Fred G on Sun Oct 26 21:05:55 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 21:05:06 2014. It's all blue sky until they sell tickets.your pal, Fred |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 21:06:21 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by SelkirkTMO on Sun Oct 26 21:00:14 2014. What you pay up front is double but you get half of it back in the way of tax deductions, so the net cost at the end of the year is almost identical. |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Dave on Sun Oct 26 21:07:47 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Fred G on Sun Oct 26 21:05:55 2014. You can say that about any venture, Fred. Billions have been spent on building SAS but until they sell tokens (VBG) it's all blue sky, right? |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Fred G on Sun Oct 26 21:12:25 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 21:07:47 2014. True, Dave, but I don't call SAS an active subway line (nor likely ever will LOL).your pal, Fred |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Sun Oct 26 21:16:39 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 21:06:21 2014. Thank you. Double is all I said before this deteriorated into the usual suspects. |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Train Dude on Sun Oct 26 22:49:41 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Sun Oct 26 21:07:47 2014. Yup, "BLUE SKY", that's just how Obama referred to Solyndra before dumping $1/2 billion of our money into it. |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Train Dude on Sun Oct 26 22:52:49 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by SelkirkTMO on Sun Oct 26 21:16:39 2014.  |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Olog-hai on Sun Oct 26 22:59:46 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Fred G on Sun Oct 26 20:49:23 2014. LOL! What kind of politicians came after Reagan? Were they all Reagan-types or were they liberals? (Hint: the answer is the latter.) |
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Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Olog-hai on Sun Oct 26 23:17:20 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by Dave on Sun Oct 26 20:56:37 2014. It's true in one respect: The Islamic war industry is way out of control. |
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