How Trillions in Fiscal and Monetary Stimulus Produced a 1.6% recovery. - Page 6 - PeachParts Mercedes-Benz Forum

raymr · #76 09-08-2010, 06:03 PM

Quote:

Originally Posted by pj67coll

There's always some who will be able to work for themselves. The vast majority of humanity will never. Civilization simply doesn't work that way.

- Peter.

With universal health care, people will be more willing and able to start businesses for themselves, without having to worry that medical insurance will destroy their finances.

#77 09-08-2010, 07:33 PM

Quote:

Originally Posted by pj67coll

There's always some who will be able to work for themselves. The vast majority of humanity will never. Civilization simply doesn't work that way.

- Peter.

I was talking about giving advice to kids. I really don't care what the "vast majority of humanity" is capable of, I'm not about to tell my kids to strive for mediocrity.

pj67coll · #78 09-08-2010, 10:39 PM

Quote:

Originally Posted by raymr

With universal health care, people will be more willing and able to start businesses for themselves, without having to worry that medical insurance will destroy their finances.

That may be true. But if so then there should be far more Europeans and Scandinavians that are self employed than Yanks. I have a sneaking suspicion that is not the case.

- Peter.

raymr · #79 09-08-2010, 11:35 PM

Quote:

Originally Posted by Craig

I was talking about giving advice to kids. I really don't care what the "vast majority of humanity" is capable of, I'm not about to tell my kids to strive for mediocrity.

I'm more interested in getting them out of the house, and not coming back except to visit.

buffa98 · #80 09-09-2010, 08:27 AM

Quote:

Originally Posted by raymr

With universal health care, people will be more willing and able to start businesses for themselves, without having to worry that medical insurance will destroy their finances.

The issue with the health care is If I was still a small business owner I must now 1099 any vendor that I gave more the 500 dollars to. That way the fed can "guarantee" that if the thresh hold is met(Sorry I cant remember the number) the vendor must have paid the % of sales for his health care tax.

If my memory is correct it amounted to about a 19% tax on the gross income before deductions if you had more than 3 employees and grossed over 350k. For those people that have never run a business it does not take long to get to $350k. My best year was over 280 and that was just me. By the time the bill were paid and all the taxes I had about 75k left. It just was no longer worth it.

Which is now why I am back to being an employee rather than self employed.

HuskyMan · #81 09-09-2010, 09:20 AM

Quote:

Originally Posted by buffa98

The issue with the health care is If I was still a small business owner I must now 1099 any vendor that I gave more the 500 dollars to. That way the fed can "guarantee" that if the thresh hold is met(Sorry I cant remember the number) the vendor must have paid the % of sales for his health care tax.

If my memory is correct it amounted to about a 19% tax on the gross income before deductions if you had more than 3 employees and grossed over 350k. For those people that have never run a business it does not take long to get to $350k. My best year was over 280 and that was just me. By the time the bill were paid and all the taxes I had about 75k left. It just was no longer worth it.

Which is now why I am back to being an employee rather than self employed.

this is the way they want it. it is no longer profitable to open up a small business, so most people do what you do and get a regular 9-5 job. that way everyone ends up working for the mega corporations. the mega corporations employ a battery of attorneys and accountants to make sure their interest are ALWAYS protected. and, the rest of us take the crumbs that fall from their table. the rich get richer and the poor get poorer. count on it.