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The discussion of increasing federal taxes revolve around personal tax rates. What does not get as much play in the media is that Corporate Tax rates will probably DECREASE. This decrease is not a US political issue as much as it is a world wide competitiveness issue.
You see, Big corporations can move offshore. They do this not to offend the voters but because they must keep a competitive edge in the market. The "Buyer" the ultimate voter who votes with his or her dollar almost always votes based on price, and to compete, corporations have to produce at a lower cost, if that means labor in countries where the dollar has more value than it has here, that is where they go. If former eastern block countries are willing to charge no tax so their citizens can get jobs, that is a huge savings.
Congress will reduce taxes for corporations. If you oppose this because you think it will collapse our governments ability to pay for programs, consider this. Less than 10% of the entire US Federal Revenue comes from Corporate taxes, while over 40% comes from personal income taxes, and over 40% more comes from payroll taxes.
Whether Congress raises or lowers the corporate tax rates, would have almost no effect on the amount of money the Government will be able to spend, but raising those taxes will directly reduce jobs and since over 80% of the Federal Government money comes from the paycheck, that would have a huge revenue impact.
So, how does the raising of taxes affect business? for the smartest of businesses little or no effect because all of the smartest of businesses of every size are incorporated as Real Corporations.
Taxes have always been much lower in the corporation realm.
If you are in Business and not incorporated, this may be the motivation you needed to do what is best. If you are still not motivated, then I can't help you.
Richard Fritzler
http://www.owelesstax.com
http://www.nevadacorporateservices.com
phone 800 590-6612
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