Labor blocks tax cuts for Atlasian small businesses

[OSR stands with Israel]

https://talkelections.org/FORUM/index.php?topic=372332.50


This is an utter disgrace and they deserve to be voted out for this

[OSR stands with Israel]

This is the opposite it was a tax cut for large businesses at the expense of middle class/upper middle class families in high tax areas such as NY, NJ, and CA.

Corporations were exempt from this bill

[OSR stands with Israel]

Like i said 500k for businesses isn’t exactly they same like someone making 500k in personal income even though it is treated like that now which is the exact problem I’m trying to fix . Businesses should pay less taxes then the individual for the same income level

[OSR stands with Israel]

This is the opposite it was a tax cut for large businesses at the expense of middle class/upper middle class families in high tax areas such as NY, NJ, and CA.

Corporations were exempt from this bill

Most of these tax cuts went to business making around 200k-300k, that's not exactly a small business. Also businesses making over 500k saw a nearly 10% decrease in the tax rate

Question, did you read the bill? Cuz the brackets literally created cuts for a new bracket lower than $13k and rose taxes for those making $1M+. It was far from a conservative and big-business defending bill.

current rates:
210K-413K  34%
413K-441K  36%
441K+      40.6%


bill rates:

50k-500k : 25%
500k-1mil : 34%
1mil + :  39%

but sure this totally isn't a massive cut for business making between 400k and 1 million

For business  making over 500k it’s not that large of a tax cut at all

[OSR stands with Israel]

Do people actually think a 300k buisness is extremely rich?

doesn't fix the fact that business making 800k and 900k were also getting tax cuts

The amendment Labor introduced barely cut taxes for businesses making between 50k-210k and from 210k didnt cut taxes at all.


It was a terrible amendment that deserved to be voted down .



If Labor actually felt the problem was the tax cut businesses making between 500k-1m was making the could have made the 500k-1m group also pay 39% through an amendment and I would have voted for it .

[OSR stands with Israel]

Answer me this do you think business income should be taxed the same as individual income

[OSR stands with Israel]

Answer me this do you think business income should be taxed the same as individual income

I understand that the income a business makes is different to the income an individual makes which is why I was/am willing to support some form of small business tax cut. I just don't think higher incomes should get these tax cuts.

This is a fundamental principle though and its not about tax cuts or increases it is about should businesses pay the same rates as individuals because the fact is businesses unlike individuals mostly reinvest that money into their own businesses which benefits our economy.


Also the fact that businesses making over 100k still would pay marginal rates at 20% is pretty bad and it should be significantly lower than that and also not giving tax cuts at all to businesses making 300k is pretty bad as well because they need tax cuts as well.


 

[OSR stands with Israel]

https://talkelections.org/FORUM/index.php?topic=372332.50


This is an utter disgrace and they deserve to be voted out for this

Who could have guessed Labor would vote against a bill that implemented right-wing tax cuts. And for better or worse, this is exactly the position that Labor's voters would support.

Obama supported making the highest corporate rate 28%


https://www.nytimes.com/2012/02/22/business/economy/obama-offers-to-cut-corporate-tax-rate-to-28.html


My bill didn’t cut taxes for corporations