Comments on: How thoughtful! Inheritor of Oscar Mayer fortune asks billionaires to petition government to increase taxes on many small businesses

By: Camel Crush Cigarette Coupons

Camel Crush Cigarette Coupons — Fri, 01 Apr 2011 06:07:53 +0000

I am constantly thought about this, thanks for putting up.

By: Rich

Rich — Sat, 03 Oct 2009 16:07:10 +0000

It is always interesting to me when people say that the poor pay taxes through their purchasing power. This comes from a lack of understanding of the operation of the economy! If the economy were perfectly elastic, this might be the case. But it is not! When the government increases taxes the market will not always allow the full increase in taxes to be passed on to the consumer. The seller can only mark up the price what the consumer is willing to pay and so part of the increase is absorbed by the tax payer and part is absorbed by the business owner. The poorer the end buyer, the less likely they are able to absorb the cost increase and the more the seller has to absorb. At the same time, small business will have to absorb more of the tax increase than the bigger businesses because they have less gross sales to spread the new costs. (Economics 102)

Second, the idea that small business has a responsibility to pay their employees a fair wage is absurd. It is the responsibility of the family bread-winner to earn what their family needs and it is the responsibility of the small business owner to stay in business within the bounds of the law. The worker is free to go where they want if the wages are insufficient for their needs and the government will make sure that the business is not operating outside the law. The idea that business is routinely polluting the earth to make a profit is so 1950ish! The government is unprepared and incapable of helping business operate or grow! The best thing the government can do is get out of the way and let capitalism work! (Family 101, Business 103)

By: Robert Katz

Robert Katz — Wed, 23 Sep 2009 13:25:55 +0000

It is the responsibility of all small business owners to pay their employees a fair enough wage to support their families, pay their creditors (vendors, investors and banks, etc.) and make a decent living.
If they can excel in any of these categories the government is supposed to assist them in their efforts to grow. Higher taxes on profits prevents growth and is a practice that is about as anti-American (capitalism) as
one can get. The government is here to protect us from invasion and to protect society from corporate polluters and criminals.
Small businesses who follow the rules should always look forward to employing more people and growing more successful. It is nothing short of damaging when the government takes more of their profits, which ids their vital seed money for growth and sustainability.

By: MD

MD — Tue, 22 Sep 2009 09:58:42 +0000

George –
I don’t think you have an understanding of how LLC’s are taxed in the United States. A small business LLC (let’s say with 50 employees) that makes $$250,000 profit needs that capital to grow the business and take risks. It’s a small cushion actually for many small businesses. Much, if not all of those “profits” will go right back into the business to buy inventory or other assets to help the business. Even though the LLC is using the profits to grow the business, the govt taxes them through the nose.

Small businesses are the life-blood of our economy. If you tax me more, I have to hire less – or worse, fire people. That’s just the stark reality. It’s not greedy… in fact, it’s the opposite. I believe that I know how to put that capital to work to create jobs better than the Federal BIG GOVERNMENT. In fact, I know I can. And it’s not their right to take it from me and spend it on absurd programs etc.

I don’t blame you for the misconception (it’s somewhat common), but now you know the truth. Go forth and spread it.

By: Marcoz

Marcoz — Thu, 17 Sep 2009 18:45:41 +0000

I dont earn near 235000 per year but am against the concept of increasing taxes to those who do. It is true that earning and inheriting is a totally different story. Being in Europe I already get taxed more than half of my salary even though it is way below 235,000 a year.
But it’s not the solution. Who controls how the tax money gets spent for real? Sure there are governments but their mere presence costs billions and in Europe governments are outsourcing almost all roadwork and lots of other work because it is more efficient. How is it that a business company that makes profits and pays dividends is more efficient than government run agencies? What is then happening to the thousands of tasks that they are not outsourcing? They must be wasting money by the ton!
In France the army is now a professional army meaning much less people to uniform, feed, pay, berthe etc. Yet the defense budget is higher! I know of army colonels that have huge houses with a huge staff to keep them happy, not to mention the art collections in their houses. That’s a waste too.
So it’s not the taxes that are the problem it is how the tax money is wasted due to organizational ineffectiveness and probably not just a little bit of misappropriation.
That’s why charities are better and I would more than willingly donate the same amount of money I pay in taxes, at least I decide that it will go somewhere helpful.

By: Wilson

Wilson — Thu, 17 Sep 2009 04:27:01 +0000

George, the system that makes our wealth possible is not Government. The system that makes wealth possible to the wide spectrum om people who have earned it is the free market/ free enterprise system. In order to “give back” to the system that made their wealth possible they need to keep as much of their earnings as possible and then reinvest those earnings thereby creating more jobs. If you want us to give back, get Government out of our pockets and allow us to spread our wealth through entrepreneurship and charitable giving.

By: Eric

Eric — Wed, 16 Sep 2009 15:15:10 +0000

Great article. Very well written!

By: George C. Wilbur

George C. Wilbur — Wed, 16 Sep 2009 14:43:24 +0000

Oh, my. Your representation of an increase in taxes on those who NET over $235,000 per year implied that it was on gross. You know that is not true. I am so sorry for those of you netting that much money per year facing the prospect of paying a fair share of your income to support the system that makes your wealth possible.

Your display of selfishness, and a willingness to distort the truth for that purpose, is truly sad.

By: admin

admin — Wed, 16 Sep 2009 05:37:40 +0000

Excellent points, Ken. And the poor also pay sales tax, which is regressive to them since a greater portion of their income goes toward consumable goods, relative to the incomes of those who are more well off.

Hazlitt was (IS, forever Will Be!) the man!

By: Ken Van Doren

Ken Van Doren — Wed, 16 Sep 2009 04:20:26 +0000

Richared Foster:

Wbhile it may be true that some 50% do not pay INCOME taxes, even the poor pay taxes. How? Because taxes can ultimately only be paid by being included in the costs of goods and services. So the price of everything we buy is higher because of taxes.

True, the poor may not realize this, but when they demand more of what another has earned, it will make all they buy more expensive, or those with money will hire fewer employees, and produce less. And often the jobs lost are at the lower end of the scale. The trick is to make them, and “society” see this.

One intriguing way suggested by Henry Hazlitt in his book, “Conquest of Poverty” is that if you recieve more in goverNMEnt benefits than you pay in taxes, you are not eligible to vote. This would mean that goverNMEnt employees could not vote. Students could not vote. Makes sense, as it is a conflict of interest for beneficiaries to have say over their benefactors. But think of the different country we would have if we could enforce this.

As I recall, later versions of hte jingle said, “would be in love with me!”

And it beats this jingle from Peters Packing company: “YOu can’t beat Peters Meat.” Yep, saw it in my travels.

By: admin

admin — Tue, 15 Sep 2009 23:43:13 +0000

How very true. The great tax historian Charles Adams said, “It is just as immoral for the government to grant exemptions as it is for the citizens to hide their income.”

Charles Adams also related in one of his speeches the story of a man who was complaining about taxes that felt like a “boil on his nose.” When asked where he would like the boil to be instead the man replied, “On somebody else’s back.” And that’s what we have today!

Here’s a link to Adams’ “A Brief Tax History of America”
http://www.lewrockwell.com/orig2/adams7.html

By: Mike Walsh

Mike Walsh — Tue, 15 Sep 2009 23:38:26 +0000

I remember that Oscar Mayer song…LOL…

Fact is, the guy didn’t really earn the money, he inherited it. If he had built his own business he’d be singing a different tune right now.

By: jspicer

jspicer — Tue, 15 Sep 2009 23:08:28 +0000

Ok well it looks like i will try my very best to no longer buy ANYTHING by oscar meyer.

By: Richard Foster

Richard Foster — Tue, 15 Sep 2009 21:41:23 +0000

I am not kidding but when I was a kid, the Oscar Mayer media advertising went like this (sung to the appropriate music), “Oh, I wish I were an Oscar Mayer wiener! That is what I’d truly like to be! Cause if I were an Oscar Mayer wiener! Everyone would take a bite of me!” I remember singing that song and never really thinking what I was singing! Well, now I know what he really wanted to do was to take a bite out of my wallet!

The real sad thing is that 50% of the American citizens do not pay taxes and they vote on what the other 50% should pay for them! Ouch! Collins must feel guilty about something in his life and he wants to prove how benevolent he is!