Harris wants to hand out $1.25T to small businesses

[TheGunner]

So $50k for what she expects to be 25MM new start ups.

So $50,000 x 25,000,000 = $1.25T

That won’t cause ANY inflation. 😉. (BTW, that’s a new business for every 15 people alive in the US…not workers…ALIVE. If only working age are included it’s 1 business for every 10 workers…🤔).

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

I will be starting up my new business…and maybe 10-15 others.😉

Earn $50k stop and start a 2nd business, then a 3rd.

 

[TwinDegrees2]

So $50k for what she expects to be 25MM new start ups.

So $50,000 x 25,000,000 = $1.25T

That won’t cause ANY inflation. 😉. (BTW, that’s a new business for every 15 people alive in the US…not workers…ALIVE. If only working age are included it’s 1 business for every 10 workers…🤔).

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

I will be start up my new business…and maybe 10-15 others.😉

Earn $50k stop and start a 2nd business, then a 3rd.

I think I'll start a used bicycle shop.🚴

 

[Boiler Buck]

So $50k for what she expects to be 25MM new start ups.

So $50,000 x 25,000,000 = $1.25T

That won’t cause ANY inflation. 😉. (BTW, that’s a new business for every 15 people alive in the US…not workers…ALIVE. If only working age are included it’s 1 business for every 10 workers…🤔).

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

I will be start up my new business…and maybe 10-15 others.😉

Earn $50k stop and start a 2nd business, then a 3rd.

Yes the math makes her proposal sound a bit nuts in multiple ways.
Just a 🤡show.

Program for the rich - fraud would come from the rich as these are $50K tax deduction or credit. A common middle class guy doesn't pay that much tax. But the rich.....imagine them starting 2-3+ businesses to get the deductions.

Doubt Middle class starting production, farms, restaurants or other high capital outlay businesses could benefit? As they get Depreciation and likely won't benefit from any new deductions as profits are not there in beginning years. So deduction does them little of nothing for them.

 

[tjreese]

Yes the math makes her proposal sound a bit nuts in multiple ways.
Just a 🤡show.

Program for the rich - fraud would come from the rich as these are $50K tax deduction or credit. A common middle class guy doesn't pay that much tax. But the rich.....imagine them starting 2-3+ businesses to get the deductions.

Doubt Middle class starting production, farms, restaurants or other high capital outlay businesses could benefit? As they get Depreciation and likely won't benefit from any new deductions as profits are not there in beginning years. So deduction does them little of nothing for them.

Was this only for minorities? I have no knowledge either way

 

[Boiler Buck]

Was this only for minorities? I have no knowledge either way

Doesn't seem so given the numbers of businesses she mentioned
.....for everyone I think, but particularly the rich will love it most

 

[BB62]

So $50k for what she expects to be 25MM new start ups.

So $50,000 x 25,000,000 = $1.25T

That won’t cause ANY inflation. 😉. (BTW, that’s a new business for every 15 people alive in the US…not workers…ALIVE. If only working age are included it’s 1 business for every 10 workers…🤔).

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

I will be starting up my new business…and maybe 10-15 others.😉

Earn $50k stop and start a 2nd business, then a 3rd.

19 million new small business applications were filed under Biden. So while the goal is high, it's not ridiculous.

Interesting that no one mentioned another part of the plan. Incentivizing state and local governments to reduce regulations that hurt the growth of small businesses. However she said nothing about federal regulations.

Is promoting the startup of more small businesses really something you want to make fun of?

 

[Boiler Buck]

19 million new small business applications were filed under Biden. So while the goal is high, it's not ridiculous.

Interesting that no one mentioned another part of the plan. Incentivizing state and local governments to reduce regulations that hurt the growth of small businesses. However she said nothing about federal regulations.

Is promoting the startup of more small businesses really something you want to make fun of?

This might be to deep for you Bob, but it's that the 50K is a tax deduction.

How many start ups make a profit in yr 1......let alone 50K in NET profits with so much start up costs to depreciate. Thus NET 50K profit to tax where a deduction would matter is more rare than not in year 1 in most new businesses. (I am sure sure there are a few exceptions.)

Thus, this is a program for the wealthy and semi wealthy business owners starting new multiple businesses under this program as they are the only ones to see a benefit as they have established profits where a big deduction would be welcomed.

 

[BB62]

This might be to deep for you Bob, but it's that the 50K is a tax deduction.

How many start ups make a profit in yr 1......let alone 50K in NET profits with so much start up costs to depreciate. Thus NET 50K profit to tax where a deduction would matter is more rare than not in year 1 in most new businesses. (I am sure sure there are a few exceptions.)

Thus, this is a program for the wealthy and semi wealthy business owners starting new multiple businesses under this program as they are the only ones to see a benefit as they have established profits where a big deduction would be welcomed.

First time you've replied to me in forever and you start with a put down........when all I talked about was numbers of startups and the deregulation mentioned in the plan. I thought you were for deregulation?

Are you saying Harris came up with this plan to help the wealthy? And as a Republican, you're saying that's a bad thing? You're going to get kicked out of the continuum with that attitude.

I know your propensity to repeat your opinion over and over like it's a fact.......$10,000 will be stuck in my head forever........but you should probably wait to repeat it until someone disagrees with you. Lighten up Francis.

 

[Boiler Buck]

First time you've replied to me in forever and you start with a put down........when all I talked about was numbers of startups and the deregulation mentioned in the plan. I thought you were for deregulation?

Are you saying Harris came up with this plan to help the wealthy? And as a Republican, you're saying that's a bad thing? You're going to get kicked out of the continuum with that attitude.

I know your propensity to repeat your opinion over and over like it's a fact.......$10,000 will be stuck in my head forever........but you should probably wait to repeat it until someone disagrees with you. Lighten up Francis.

Had you on ignore due to your language.. Keep it clean and I will respond. Otherwise....

Sorry to confuse you. My fault. This program is a good program.

But yes let's be clear, it is for the rich and upper mid class BOTH who would have to have established businesses and established profits to start a 2nd, 3Rd or 4+ business.

This simply would do little to nothing for most first time start ups....just due to the needed NET profit in year 1.

 

[BB62]

Had you on ignore due to your language.. Keep it clean and I will respond. Otherwise....

Sorry to confuse you. My fault. This program is a good program.

But yes let's be clear, it is for the rich and upper mid class BOTH who would have to have established businesses and established profits to start a 2nd, 3Rd or 4+ business.

This simply would do little for most first time start ups....just due to the needed net profit in year 1.

I stated I would watch my language. It's not to stay off your ignore list. Do whatever you want.

Yeah, it's confusing to me when you attack a program that you think is good.

You haven't explained why a democrat would propose a program that benefits big business. This democrat is also promising to raise tax rates on the wealthy. Seems contradictory.

 

[BCfanatic2020]

So $50k for what she expects to be 25MM new start ups.

So $50,000 x 25,000,000 = $1.25T

That won’t cause ANY inflation. 😉. (BTW, that’s a new business for every 15 people alive in the US…not workers…ALIVE. If only working age are included it’s 1 business for every 10 workers…🤔).

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

I will be starting up my new business…and maybe 10-15 others.😉

Earn $50k stop and start a 2nd business, then a 3rd.

Who benefitted from the 16 trillion we printed under Obama and Trump ? Not workers or small businesses.

Relax, she’s lying her ass off. All she’s going to do is start wars and take away civil liberties lol

 

[TheGunner]

19 million new small business applications were filed under Biden. So while the goal is high, it's not ridiculous.

Interesting that no one mentioned another part of the plan. Incentivizing state and local governments to reduce regulations that hurt the growth of small businesses. However she said nothing about federal regulations.

Is promoting the startup of more small businesses really something you want to make fun of?

Make fun of? Legitimate businesses I am fine with. Rewarding business with a free $50k deduction is a whole other ballgame, Especially given that there are only 33MM businesses today (see below). Sounds to me like a shell game. Make $50k, change business name to company B and pay no taxes.

Now if a business stays in operation for 3 yrs and pays individuals $150k for three years, now I can begin to understand the incentive.

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

 

[Purdue95Grad]

Make fun of? Legitimate businesses I am fine with. Rewarding business with a free $50k deduction is a whole other ballgame, Especially given that there are only 33MM businesses today (see below). Sounds to me like a shell game. Make $50k, change business name to company B and pay no taxes.

Now if a business stays in operation for 3 yrs and pays individuals $150k for three years, now I can begin to understand the incentive.

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

You’re just speculating. There is already a $5k deduction and she’s looking to expand that. No, we don’t know full details of this plan yet or what kind of guardrails there are in this plan, but maybe wait for some additional specifics to come out before you tout it as some horrible thing right out of the gate?

 

[Schmedly_Whiplash]

So $50k for what she expects to be 25MM new start ups.

So $50,000 x 25,000,000 = $1.25T

That won’t cause ANY inflation. 😉. (BTW, that’s a new business for every 15 people alive in the US…not workers…ALIVE. If only working age are included it’s 1 business for every 10 workers…🤔).

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

I will be starting up my new business…and maybe 10-15 others.😉

Earn $50k stop and start a 2nd business, then a 3rd.

Trump gave 30 BILLION to rich mo fo's. Try a clue

 

[Boiler Buck]

I stated I would watch my language. It's not to stay off your ignore list. Do whatever you want.

Yeah, it's confusing to me when you attack a program that you think is good.

You haven't explained why a democrat would propose a program that benefits big business. This democrat is also promising to raise tax rates on the wealthy. Seems contradictory.

She is full of it all right
....contradictions and mostly bad policy. This one is ok though.

D policy not all bad, like this policy....just like R....both good and bad policies. R just has a higher % of great policy at least for middle-class Americans.

I am not sure whether the proposed $50K is a deduction or a credit?

If a credit, NET profit only has to be $50K. If a deduction, NET taxable profits would have to be over $178,572 to take full advantage of the $50K, with her new 28% corporate tax she is proposing. {28% is an example of a bad policy as the consumers end up paying it}.

 

[Schmedly_Whiplash]

You’re just speculating. There is already a $5k deduction and she’s looking to expand that. No, we don’t know full details of this plan yet or what kind of guardrails there are in this plan, but maybe wait for some additional specifics to come out before you tout it as some horrible thing right out of the gate?

that would require thinking!

 

[SKYDOG]

that would require thinking!

That would eliminate most democrats.

 

[TwinDegrees2]

I stated I would watch my language. It's not to stay off your ignore list. Do whatever you want.

Yeah, it's confusing to me when you attack a program that you think is good.

You haven't explained why a democrat would propose a program that benefits big business. This democrat is also promising to raise tax rates on the wealthy. Seems contradictory.

She proposed this program because in all honesty she has no clue about business and their failure or success. She's trying to politically buy votes.

 

[TwinDegrees2]

Trump gave 30 BILLION to rich mo fo's. Try a clue

Trump gave more than that to the black, Hispanic, and Asian population in the USA with more jobs, better pay and benefits they had never had before.

Then along comes Bedpan and Giggles and in a single year put a lot of folks out of work and deeper in debt.

And do I need to mention how the status of women rose in his four years?

 

[TheGunner]

You’re just speculating. There is already a $5k deduction and she’s looking to expand that. No, we don’t know full details of this plan yet or what kind of guardrails there are in this plan, but maybe wait for some additional specifics to come out before you tout it as some horrible thing right out of the gate?

Why didnt Kamala provide the specifics when she rolled out the plan. Or should I have to wait until January?

BTW, she’s been a candidate for 7 weeks and a candidate in waiting since the end of June. Time to let people know your plan and if Kamala cannot articulate it, I am not going to wait to criticize it.

It’s halftime, time to stop stalling.

 

[TheGunner]

Trump gave 30 BILLION to rich mo fo's. Try a clue

So is it your opinion that the “small business start ups” won’t be used by “rich mo go’s”…I’m guessing it will be.

Also, how much did Harris and Biden give away to the Climate Change artists? How much did they give away to non-Americans?

 

[Boiler Buck]

Why didnt Kamala provide the specifics when she rolled out the plan. Or should I have to wait until January?

BTW, she’s been a candidate for 7 weeks and a candidate in waiting since the end of June. Time to let people know your plan and if Kamala cannot articulate it, I am not going to wait to criticize it.

It’s halftime, time to stop stalling.

Agree. Are all her plans for America on her website yet??

Must not be, as I asked @Schmedly_Whiplash which policies of hers would help the middle class.....so far, crickets.

Like you say - been 7 weeks since she was virtually nominated. Of

 

[Riveting]

that would require thinking!

Are you complaining that you are being left out?

 

[Riveting]

Why didnt Kamala provide the specifics when she rolled out the plan. Or should I have to wait until January?

BTW, she’s been a candidate for 7 weeks and a candidate in waiting since the end of June. Time to let people know your plan and if Kamala cannot articulate it, I am not going to wait to criticize it.

It’s halftime, time to stop stalling.

Similar to what Pelosi said about Obama care, we'll have to elect her to find out - if we even find out then.

 

[Riveting]

Trump gave 30 BILLION to rich mo fo's. Try a clue

That's all? You act like that is a lot of money these days.

What did the rich do with that money, would you guess (assuming your number is even correct)?

Btw, I think the correct term is that Trump kept the feds from gobbling up $30 billion of someone else's money to waste on stupid wars and so forth. The gov did not actually give them $30 billion, right. (Again, assuming your number is correct, which is not a safe assumption>)

 

[BB62]

Make fun of? Legitimate businesses I am fine with. Rewarding business with a free $50k deduction is a whole other ballgame, Especially given that there are only 33MM businesses today (see below). Sounds to me like a shell game. Make $50k, change business name to company B and pay no taxes.

Now if a business stays in operation for 3 yrs and pays individuals $150k for three years, now I can begin to understand the incentive.

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

Harris, a democrat, is planning to run a shell game to help rich people scam the system? The same Harris who wants to raise the corporate tax? Make the wealthy pay more taxes?

I think she is obviously over promising. Unfortunately that's what politicians do. But for goodness sakes you guys are digging deep to come up with things to hate about a program designed to help small businesses, the backbone of our economy.

This is like bizarro world.

 

[TwinDegrees2]

Harris, a democrat, is planning to run a shell game to help rich people scam the system? The same Harris who wants to raise the corporate tax? Make the wealthy pay more taxes?

I think she is obviously over promising. Unfortunately that's what politicians do. But for goodness sakes you guys are digging deep to come up with things to hate about a program designed to help small businesses, the backbone of our economy.

This is like bizarro world.

Why has she flipped on this? Oh wait....she's lying.

 

[Purdue95Grad]

Why has she flipped on this? Oh wait....she's lying.

You wanna talk about how your guy flip flopped on the Florida abortion law within a 24 hour time period? Dude shut up lol

 

[TheGunner]

Harris, a democrat, is planning to run a shell game to help rich people scam the system? The same Harris who wants to raise the corporate tax? Make the wealthy pay more taxes?

I think she is obviously over promising. Unfortunately that's what politicians do. But for goodness sakes you guys are digging deep to come up with things to hate about a program designed to help small businesses, the backbone of our economy.

This is like bizarro world.

There are 33MM businesses in existence today. And she is going to add 75% more…which I doubt happens. But when a program like this is initiated, there are people who set up specifically to rob and drain the system. Now will this program help some middle class business people, sure. But I would bet that 40% of the allocated money ends up going to people with a net worth well over $250,000.

It will be no different than COVID scam on the Cares Act.

IRS Criminal Investigation releases updated COVID fraud statistics on 4th anniversary of CARES Act; nearly $9 billion investigated | Internal Revenue Service

IR-2024-83, March 28, 2024 — Four years after the enactment of a key pandemic-era law, the Internal Revenue Service released updated numbers showing Criminal Investigation (CI) has investigated 1,644 tax and money laundering cases related to COVID fraud potentially totaling $8.9 billion, with...

www.irs.gov

And it could inject more than $1T into the economy, further pushing prices higher.