Does obama support increasing taxes on S corporations?
This is a double sided question. The direct answer is that Obama will not raise taxes on S-Corporations. S-Corporations rarely pay taxes. Their profits flow through a schedule K-1 to the owners individual income tax return.
If Obama raises personal income taxes, which he probably will, then yes you will pay more.
The biggest issue with Obama and S-Corporations is the fact that Obama wants the profits from an S-Corporation to be subject to Social security Taxes. Under present law, an owner of an S-Corporation can take distributions of profits and not pay social security taxes. The only tax you pay on S-Corp profits is federal income taxes. If he does pass this change then owners of S-Corps will pay upwards of 15.3% of their profits for Social Security Taxes. Thus eliminating the need to form an S-Corp.
There is no such thing as "supports taxes" or "does not support taxes." Taxes are a fact of life, there is no way for Pres. Obama to not support taxes. President Obama supports a progressive tax, meaning rates are higher on the rich then the poor. Read More
He isn't. This is political rhetoric from the president's opponents. It is common in politics for one side to accuse the other of raising taxes, but in this case, there is evidence that President Obama has actually given Americans a number of tax cuts. I enclose a link with further information about that. Read More
Corporations and the wealthy in the United States pay the vast majority of taxes to support the country. 5% of the people in the United States pay 95% of the taxes collected. I am certainly not one of these 5% but I do recognize that the wealthy in this country support the rest of us as they pay their share and our share of the taxes. They also produce the jobs through business ownership and… Read More
Double taxation occurs because corporations are entities. As such, they have to pay taxes and shareholders have to pay taxes on the income distributed by the corporation. Read More
Support legislation of higher taxes for the wealthy, also put in place strong regulatory rules that corporations, and banks can't get across. Read More
According to his 2011 income taxes, Barack Obama was taxed at an effective rate of 20.5%. He and his wife paid $162,074 in taxes. Read More
The war revenue bill was enacted in 1917. The war revenue bill funded the war, and greatly increased taxes against individuals and corporations to support the war. Read More
To levy a tax is simply to impose taxes upon people or corporations. When a government makes you pay a tax, they are levying taxes. Read More
He gave the go ahead to kill Bin Laden. He rammed Obamacare through. He raised taxes to support government aid programs. Read More
taxes are important part of national growth. Read More
S corporations Read More
From the "little people" who work and pay taxes and actually pay more than the corporations (who can claim to be based in the Cayman Islands and pay $0 in US taxes) and a larger percentage of their incomes than hedge fund managers, whose taxes are capped at 15%. Instead of complaining about this disparity, the average American prefers to blame the poor and infirm instead of a bought and paid for US government of… Read More
Higher, higher taxes for richer people, lower taxes for poor people. Read More
Most of the C Corporations pay taxes and lots of taxes. It's just another media hype to say they don't. Remember, Corporations don't have exemptions, standard deductions, etc. like people do. The media likes to make noise about any credits given to business but business not only pays boatloads of taxes, but businesses provide jobs that run the economy. Read More
Taxes are raised when your government is spending more money than it collects from individual tax payers and corporations. Read More
higher taxes mean the corporations will go over seas where the taxes are lower, and then they will lose their tax base. Read More
Obama loves taxes because he's a politician and all they want is more federal power. Obama's also a liberal and thus twice as bad as a normal politician. So Obama loves taxes because they add to the federal reserve. Read More
Less money for me and you, less health for all, less care. more government control. The very reason the we Declared Independence. Read More
Wealth Tax Read More
sen obama has voted to raise taxes up to 42,000 dollars more. Obama plans to provide a tax cut for 95% of Americans. If you make less than a quarter of a million dollars a year, you won't see your taxes go up. If you make $200,000 a year or less, your taxes will go down. Read More
the rich people should pay more taxes. Read More
cut taxes for middle class and higher taxes for millionairess Read More
According to their tax returns, Mr. and Mrs. Obama were taxed at an effective rate of 20.5%. I enclose a link to the President's 2011 taxes. Read More
Yes, if the state they operate in taxes corporate income. This depends on where they're incorporated or headquartered as well. Some state don't have a personal income tax, but do tax corporations (i.e. WA). Read More
Given what he has done, He feels that the high income earners are not paying enough taxes. Read More
No, he did not. He actually cut taxes several times, especially on middle class taxpayers. Read More
What percentage of federal income taxes was paid by Corporations in 1950 and what do they pay today?
30% Read More
Actually, most objective sources say he has cut taxes, especially for small businesses and working families. His political opponents claim he raised taxes on everyone, but there is not much evidence to support this claim. In late 2011, the fact-checking site Politifact.com said President Obama's assertion that he had lowered taxes for the middle class was true. Read More
They lowered taxes for the rich. pro business They were pro-business. They relaxed government regulation of corporations. They lowered taxes for the rich. Read More
Incompanted is an odd word made from slang in income corporations it means To pay with your Income taxes or to be paid with your income taxes strange as that is Read More
Greedy politicians raising taxes on corporations to pay for their socialist agendas. The increase in taxes would make corporations less profitable and force many to lay off workers, adding to unemployment, and eventually reaching a depression. Read More
While that isn't true it would not be justified if it were. The more a corporation pays in taxes the less they will grow and the fewer people they will hire. Corporations have dozens of different types of taxes they have to pay. Read More
What taxes can be shifted from one individual to another through the process of increasing the price of the goods sold?
Indirect Taxes. Read More
So far, there have not been new taxes. In fact, there have been several tax cuts. But Mr. Obama did say that he believes the wealthiest 2% of Americans need to pay more in taxes, and he has proposed that their taxes be increased slightly, to raise much-needed revenue. Read More
the war was funded through taxes on U.S. citizens and corporations. Read More
One advantage to having a partnership is the fact that you will not have to pay double taxes. With some corporations, taxes are paid at the corporate level and the personal level. Read More
Uh, pay the child support or back taxes. Read More