Should Obama Continue To Use Warren Buffett As His Symbol To Raise Taxes?

Sure ... it's the best symbol because the President's logic on the taxing issue is flawed.

Mr. Buffett should continue to be the symbol of why he and the President are calling for higher taxes - don't ask someone to do something you're not willing to do yourself. Asking someone to pay higher taxes - yet fighting tooth and nail when you / your company is asked to pay higher taxes - doesn't make sense.

Instead, the folks in Washington should be following the Constitution, getting rid of job crushing regulations, providing certainty in the private sector and tax incentives for work ethic, success, savings, marriage and charitable contributions in the private sector. But do not take my word for it, read up on Nobel prize winner Milton Friedman.

In the end Mr. Buffet made himself and many people very rich by careful investment in business in his country. A lot of tax was paid on that money and what was not paid in tax was re-invested into businesses in his country - creating jobs and more income and more taxes.

It is easy for a politician to point fingers. And often those who are simply envious of a man's success start to sound like jackals as they complain about his success.

Picking on the rich tends to drive money and investment out of the country.

If Obama wanted to make things start happening maybe he should actually start looking at how successful business becomes and stays successful.

No government can give to someone without taking from someone else.

When the well goes dry people will go thirsty.

Small Business Taxes ..... Beating Up The Little Guy

Small business doesn't have access to many of the tax breaks available to larger corporations. It's really quite unfortunate given that 80% of all business is classified as small business in the US.

Over time, I think it will be more detrimental. All of the news over shrinking budgets among states and the fact that over 43 states are facing huge budget shortfalls, at some point taxes are going to rise. One of the most difficult taxes to swallow is the 15+% self employment tax. That one drives me crazy the most and when tacked on to a 35% tax bracket equals over 50%. Not much incentive to be in business on your own.

Unfortunately with the current governments and independent financial controls it is only getting worse...for all of us.

The next kick in the teeth for businesses, particularly in the western world is the "Carbon Tax" trade, scheme that the powers to be, are attempting to foist onto us all.

This is going to send many businesses in these Western countries to the wall. While China, India, and all the third world countries are allowed to further flourish and prosper with their loose governments, slave camp labor, and corrupt officials.

Have you ever tried reading the tax codes....? All 60,000 of them? It's ridiculous and the longer we allow the current system to go along, the deeper the pain is going to be.

As most governments print more money, who do you think is going to pay for that?

The people .... us.

What do YOU think? Feel free to share your view by leaving a comment.

Small Business Tax And Accounting Resource …. Consulting And Education

Fred Daus, CEO & Founder of Fredrick James Accounting, Tax & Consulting has built his entire approach to taxes & consulting on educating clients to help them make better informed decisions that result in financial growth while reducing tax liability. This applies to both business and individual clients.

His firm is offering a new personalized, 1 hour consultation & education course for those who have recently become self employed, independent contractors, independent business owners and even those who are taking on side work while retaining their regular employment. The consult is designed to provide a solid foundation of practical and accurate tax advice that, if followed, will prevent costly mistakes that can lead to a shockingly large tax bill at the end of the year. Each consultation is developed according to individual clients situations & needs. During the hour consultation with CEO Fred Daus, clients will also have the opportunity to ask any questions they may have. The cost is $147 for one hour and comes with a money back guarantee.

For more information on this service please visit: Self Employment Tax Consultation

Mr. Daus also offers expert advice through his blog: Educating the Masses to Help You Save on Taxes. Business owners may find some of the free advice helpful as well as the small business topics delve into some of the financial/tax issues small business owners and independent contractors face.

Below are two examples of recent posts that can be found on the Fredrick James blog. Entries are posted weekly and they do accept suggestions and requests to cover issues of particular interest.

….. Finding the Right Accountant to Help Build Your Business

Excerpt:

“...I want to clarify that accounting is an investment in your business, rather than an annoying expense. Finding the right accountant who understands your goals and is willing to work with you toward achieving them is worth his weight in gold. You will see a much higher return on your investment through smart tax planning and good financial reports that will help you more easily obtain credit in these credit-strapped times."

….. Starting Your Own Business: Choosing Your (Tax) Words Carefully

Excerpt:

"One of the most important issues, related to your tax situation, is how you will define the people who work for you or, if you work for yourself, how you define your relationship to your business. Do I classify workers as employees or independent contractors? And why does it matter?"

Small Business owners may also find the new "Ask Fred" section helpful as it allows them direct access to Fred's expertise in regards to a specific question they may have.

To see more of what Fred’s blog has to offer go to: Educating the Masses to Help You Save on Taxes