Let me put it simple. A business owner has 20 salaried employees he all pays 50k/yr each. Business owner personally makes $1mm a year NET after taxes. Business owner likes netting $1mm a year and spends it all on boats, homes, child's education, clothes for wife, etc.
So, Obama jacks this business owners taxes up 5%. Business owner is pissed because he has to give roughly another $50k/year to the government and he doesn't like the government because he already gives them several hundred thousand a year in taxes.
What does business owner do? He lays off one employee, makes the other 19 work a little harder and he's basically back up to his $1mm a year of net income to himself.
A business owner can and will do the above if he wants. Why? It's his business and his money to do with as he pleases. Is it fair? Maybe, maybe not. But a lot of business owners can and will do the above.
Watch it happen if Obama is reelected and jacks taxes up on the 1% which happen to be the smart ones who creates businesses and jobs.
So, Obama jacks this business owners taxes up 5%. Business owner is pissed because he has to give roughly another $50k/year to the government and he doesn't like the government because he already gives them several hundred thousand a year in taxes.
What does business owner do? He lays off one employee, makes the other 19 work a little harder and he's basically back up to his $1mm a year of net income to himself.
A business owner can and will do the above if he wants. Why? It's his business and his money to do with as he pleases. Is it fair? Maybe, maybe not. But a lot of business owners can and will do the above.
Watch it happen if Obama is reelected and jacks taxes up on the 1% which happen to be the smart ones who creates businesses and jobs.
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