Itinerant Air-Cooled

Are the current deductions/loopholes impeding startups? I keep hearing that the tax code is complex but is it? Four years ago I fired my CPA who had me convinced me how complex this thing was. I bought a software package for $99 and started doing it myself for both the business and personal returns. Could it be even simpler? Sure. And it's true I'm not GE but doesn't the same code apply to everyone?

What's stiffling startups, IMO, is the $1200 a month health insurance you suddenly have to pay yourself.

Hippie wrote:What's stiffling startups, IMO, is the $1200 a month health insurance you suddenly have to pay yourself.

Amen to that. Almost everyone I know that is in business for themselves has a spouse covering them on a group plan somewhere.

Hippie wrote:What's stiffling startups, IMO, is the $1200 a month health insurance you suddenly have to pay yourself.

Agreed.

Sylvester wrote:Never happen. If he gets elected president he will never get this off the ground, period.

Tinkerbell could be elected president on the promise of magical pixie dust flying for every man, woman and child in the US, but the people really pulling the strings ($$$) would just rip her wings off and tell her to play their status quo. POTUS has zero power to do anything except read from a teleprompter. Obama. Hope. Change. Promises. Bah. Whatevs prompter man talking head. I lost my last ounce of respect for him when he caved on the whole Monsanto alfalfa/soybean/roundup/GMO food thing with Tom Vilsack (who went to the same high school I did... what an embarrassment to that school). Anyway... I expect zero change in 2012 regardless of who is elected.

Tinkerbell 2012™

I feel so jaded right now...

BumbleBus wrote:... I expect zero change in 2012 regardless of who is elected.

Pretty much true.
We suffered Vilsack (the sac, or ball-sac, as I called him) as a do nothing govenor in Iowa.

RussellK wrote:Are the current deductions/loopholes impeding startups?

I don't know, now that I think about it further maybe you're right.

I still think that the plan has great ideas. I think that it would encourage saving and investing over spending and borrowing. I like that for a change.

Being cash poor impedes saving and encourages borrowing. I'd like to see more people saving, investing and living debt free too. How does the Cain plan address that.

RussellK wrote:Being cash poor impedes saving and encourages borrowing. I'd like to see more people saving, investing and living debt free too. How does the Cain plan address that.

add a 9% sales tax to everything and you will start to think twice before buying any big ticket items. you'll have to save up to pay for food. clothing, utilities, etc, etc....

vdubyah73 wrote:

RussellK wrote:Being cash poor impedes saving and encourages borrowing. I'd like to see more people saving, investing and living debt free too. How does the Cain plan address that.

add a 9% sales tax to everything and you will start to think twice before buying any big ticket items. you'll have to save up to pay for food. clothing, utilities, etc, etc....

Whenever they talk about a flat tax locally they say necessary items like food, medicine & clothing will be exempt and there is an income threshold that if a taxpayer falls below exempts them from sales tax. The middle class will take the real hit on this. Can you imagine the tax bill on a washer dryer purchase? Or a car?

Hey maybe they could tax on imported goods from China?

Sylvester wrote:Hey maybe they could tax on imported goods from China?

i dont think the Chinese would like that...they need our buying power to remain stable..after all, thats why they are bankrolling our crumbling empire.