I can't believe I have to keep explaining this to people...particularly people who live in Texas where pretty much everything is open with no thought about being shut back down, regardless of COVID numbers. You can open up all the movie theaters you want...people aren't going. Even at limited capacity numbers, restaurants aren't full. You can't push a string. You can't make people go out if they don't feel comfortable doing so.
This country never has problems with minimum wage employment. If you want a min wage job, you'll find one. So your point is irrelevant.
Yup businesses are going to open, spend money on operating costs and lose revenue because foot traffic signficantly decreased. I feel like GOP voters just forget basic supply and demand principles.
mcconnell and republican senate have blocked the $2,000 relief checks, so Americans hurt by COVID-19 will continue to be hurt. Hopefully voters in GA will see that the only way to get the help Americans desperately need is to elect the two Democrats running for Senate... McConnell blocks Schumer’s bid to unanimously pass $2,000 stimulus checks https://www.cnbc.com/2020/12/29/cov...e-considers-vote-on-2000-stimulus-checks.html
They would need a minimum of 12 Republicans, plus McConnell being wiling to even allow a vote in the first place.
The GOP only believes that if you give people and companies that already have more money then they can spend even more money that somehow that creates jobs. Looks like McConnell will try to kill this by tying it to the other two Trump demands about the election investigation and large tech company requirements he rage tweeted earlier.
The people at the top like Mcconnell don't believe it. They know it's all bs. But donor money and promised board seats after retirement are more important than integrity. The people who buy into it and believe it are the normal folks that we debate here. They are the fools unfortunately.
The GOP are using this to help win the GA run offs. That is all, otherwise it would have been completely shut down already. They don't want to do it but will wait conveniently until after Jan 5.
I have no clue how this play politically (yes, I have seen the polls, but that doesn't necessary translate to vote). If indeed GA really care about 2k or more covid relief, I don't know how this help the GOP. GOP leadership is going to block it. The only way to unblock GOP leadership and allow more covid relief is for DEM to win both GA Senate runoffs.
It's a double-edged sword. It put the GA Senators on record supporting something the GOP Senate opposes. If their argument is people need to vote GOP to keep the Senate and stop Biden, this goes against that. But I agree - in general, the GA Senators can say they support it, and that helps them. The Dem candidates can say McConnell is obstructionist and that the only way $2000 will pass is if Dems control the Senate, which maybe helps them.
I'm not an expert on Senate rules, so I'm not sure what exactly Bernie can do, but it seems he can force Congress to stay in session through the weekend to override the Defense Bill veto if they don't give him a vote on the $2000. I think it's petty, but I love that he might do that just to prevent the GA Senators from campaigning all weekend.
Congrats. You are one of the top 5 percent of Americans businesses who actually owns a corporation. 95% of ALL American businesses are pass-through entities as in their business tax is merely their personal income tax where they don't pay a seperate "corporate tax". What is your business btw? Pretty easy to check if you are listed as a llc or a corporation.
There are only a tiny few circumstances where a true small business should be setup as a C-Corp. The vast majority are S-Corps, LLCs/LLPs, or sole proprietorships. The fact that you had corporate tax cuts does not mean it happened for the vast majority of small businesses or solo entrepreneurs.
For 95% of American businesses, decreased corporate tax rate didn't effect them at all. So ya, you are absolutely right.
LLC's and LLPs can also designate S-Corp or C-Corp status, it's not just limited to corporations. Either way, even if an entity is set up to be a pass through, individual tax rates were also reduced by the TCJA, so taxes are being saved in both scenarios.
Corp tax rate were changed from a range of 15-35% to a flat 21% + some favorable deduction + repeal of corp alt min tax. All of these changes are permanent. 5 of the 7 individual tax brackets were reduced through 2025. It expires after 2025. Other changes (standard ded increase, suspension of personal exemption, child tax credit increases, itemized ded cap) are also all temporary - they all expire after 2025. Inflation indexed changes will slow down increasing each tax brackets - meaning, everyone will eventually see slightly higher taxes over time. This inflation indexed change is permanent. After 2025, most people will see their taxes increase (correction: not most - but many will) as compared to before TCJA. However, more importantly, on avg, most people will incur a net cost as compared to before TCJA.
