Gov. Sam Brownback’s plan to cut income taxes for successful small businesses is not a good idea.
Small business owners can include doctors, lawyers, farmers, retail businesses, white and blue-collar businesses. They are the heart and soul of this country.
They are hard working and intelligent innovators who have been blessed with a certain amount of luck.
However, some small businesses easily hide and misspend money — on themselves with the many legal loop holes to hide money.
There are some small businesses that only do business in cash and are probably truly reporting only a small portion of taxable income anyway. Why cut it more?
The governor’s tax bill eliminates state taxes on limited liability companies, sole proprietorships and sub S corporations.
The business tax exemptions will be implemented from 2013 to 2017. Business income will be exempt up to $100,000. It will rise to $250,000 for 2015.
Of course, some small businesses are honest.
There are others that are not.
They run home furniture, upgrades to their existing homes, vacations, tickets to ball games, all as a “business expense.”
Some of the richest people in this country are small business owners, including blue collar businesses. They deserve a decent wage.
But they need to give back too. They got college grants, drive on roads and send their kids to public schools, all paid for by tax money.
One of the government’s proposals is to continue to wage taxes on the working poor. People who have never been poor cannot understand how the loss of a few hundred dollars will affect quality of life. It could be a family’s entire recreation budget and cut into the gas budget.
A separate, wealthy class is being created. By virtue of the way they earn money, they don’t have responsibilities that most people who work for a wage have.
It is the haves that are taking “business trips” to Hawaii; it’s not the lower classes that don’t have the finances to hide their money.
For single workers earning less than $15,000 a year in taxable income and married couples making less than $30,000 a year, the tax rate will drop from 3.5 to 3 percent and stay there. The change will take place for tax year 2013.
A minimum wage worker who qualifies for food stamps has to pay taxes, but a lawyer such as Sam Brownback who makes hundreds of thousands of dollars a year doesn’t have to pay taxes on a large amount of it if the books are written in a such a way?
“While the people who feel the adverse cuts of these programs will see their tax burden increase, the wealthiest among us may actually see their fiscal contribution to society lessen. This hardly resembles economic justice,” said the Kansas NAACP.
Perfect. What’s right or fair or just in this?
What is incomprehensible is that lower middle class workers employed by these businesses must report and pay taxes on every penny.
Karen La Pierre