Who cares about these proposals? They might be good ideas but the Republican House is never going to pass this.
Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
121–130 of 172 posts
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#122Earlier quoted context omitted.
You have to pay for unemployment insurance. The more people who make claims against you, the higher your insurance gets. You probably aren't going to get charged 100% of the employee's unemployment, but you get charged a goodly chunk.
Seriously? I'm surprised anyone is still hiring at all in the US! Sheesh, what a policy. "Hello independent contractors" -- I hear you.
The IRS is very picky about what constitutes an independent contractor. This has long been abused by companies trying to skirt employment law and avoid payroll taxes. They have a litmus test of sorts to determine whether someone is an employee or an independent contractor (tl;dr: if you treat them like an employee, they're an employee). And of course, there are significant penalties for getting this classification wrong.
For more details, go to the source: http://www.irs.gov/businesses/small/article/0,,id=99921,00.h...
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#123Earlier quoted context omitted.
The bill's been sent to congress this morning, if you can't find it on their website yet, you'll be able to soon. (Haven't gone looking myself).
isn't there yet - hope they put it up sometime tonight
here is a link: http://www.whitehouse.gov/the-press-office/2011/09/12/messag...
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#124Earlier quoted context omitted.
I don't throw out the 'love it or leave it' for 99% of posts on almost all issues, but when a person equates taxation with theft, it's just a lost cause. We can and should debate what to do with our tax money, but fundamentally the system always ends up in a state where some people are unhappy with some of the spending. There is no way to reconcile what those on the far right and far left want. We end up somewhere in…
Your "love it or leave it" attitude towards taxation assumes that all individuals should for some reason resign themselves to the sovereignty of the Unites States Federal Government. My chosen geographic location is not an admission of consent to be 'taxed' by men with guns. Edit: Oh cool, looks like I stepped on somebodies toes, they went back and downvoted all my currently votable comments at once. So tell me Mr Re…
I downvoted you because, although I am sort of interested in potential government support for entrepreneurs, I have zero interest in reading an argument about whether countries have a right to tax their citizens. This is HN, not prisonplanet.com.
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#125Earlier quoted context omitted.
Your "love it or leave it" attitude towards taxation assumes that all individuals should for some reason resign themselves to the sovereignty of the Unites States Federal Government. My chosen geographic location is not an admission of consent to be 'taxed' by men with guns. Edit: Oh cool, looks like I stepped on somebodies toes, they went back and downvoted all my currently votable comments at once. So tell me Mr Re…
I downvoted you because, although I am sort of interested in potential government support for entrepreneurs, I have zero interest in reading an argument about whether countries have a right to tax their citizens. This is HN, not prisonplanet.com.
Well I hope you took the time to downvote this entire thread then.
What is a citizen anyway though?
Edit: I just looked up prisonplanet.com. Interesting how extreme left-wing positions (I am an anarchist) can be easily mistaken for extreme right-wing positions, such as those of Alex Jones.
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#126Earlier quoted context omitted.
I downvoted you because, although I am sort of interested in potential government support for entrepreneurs, I have zero interest in reading an argument about whether countries have a right to tax their citizens. This is HN, not prisonplanet.com.
Well I hope you took the time to downvote this entire thread then. What is a citizen anyway though? Edit: I just looked up prisonplanet.com. Interesting how extreme left-wing positions (I am an anarchist) can be easily mistaken for extreme right-wing positions, such as those of Alex Jones.
You can bet that I downvoted the majority of it. (Although I upvoted your comment below about American exceptionalism regarding taxing the assets of expatriates, since afaik it's accurate and it's informative.)
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#127Whoa, the article is ageist, and proud of it. Though this program is geared toward people of all ages, young people are the best suited to maximize its advantages. Older generations tend to have families and other financial obligations, making it more difficult for them to transition into the roles of entrepreneurs. I am married with a young child, and my salary covers all of my family's expenses, so my husband doesn…
Isn't it okay to make general statements? I mean, if you grabbed 100 random 20 year olds and 100 random 40 year olds, wouldn't the 40 year old folks have more financial obligations?
Certainly you can find counter-examples-- older folks who are financially secure and young people with bad attitudes or bad burn rates... But I don't think if you say, "Tall people are better at dunking basketballs" that you're really being unfair to all of the shorter people who are great at dunking, are you?
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#128Earlier quoted context omitted.
More people are abandoning US citizenship because a rule change in 2008 has made it simpler, cheaper, and less restrictive to do so: http://economix.blogs.nytimes.com/2011/06/16/more-americans-...
It's by no means cheaper. It used to be free to leave. Now they expropriate 50% of your net worth. Massive shift in US policy. Used to be hard to enter the US. When they make it hard to leave , that is a terrible sign. Legal Background: www.mwe.com/index.cfm/fuseaction/publications.nldetail/object_id/3892307d-1b8e-4636-ba2b-f58609256689.cfm Color commentary: www.davidtanzer.com/david_tanzer_articles.asp?article=exit+…
Er....no. It was not free before; section 877 of the Internal Revenue Code was amended in 2004, and even before that reflected the assumption that any expatriation from the US was for purposes of tax avoidance. All US income for 10 years after expatriation was subject to US income tax for 10 years, and if you spent more than 30 days of any given year within the US, you were treated as a resident and liable for full US taxes on all income worldwide. Now you can spend up to 120 days in the US per annum after expatriating.
http://www.irs.gov/businesses/small/international/article/0,... has detailed explanation of the different tax regimes since 2008, from 2004-2008, and prior to 2004.
They don't take 50% of your net worth; they take progressive amounts on assets above the inflation-indexed $600k exemption up to a top rate of 35% (same as the estate tax). The 50% thing is a special case for future deferred income from a US asset; you pay 30% up front and 30% on distribution, which comes out at 51%. The idea here is that you should pay more because you are trying to have your cake (live outside the US and not pay US income tax) and eat it too (enjoy the fruits of the US economy and enforce any future income claims in a US court if required). If you really don't want that, then you can sell the asset, giving up any deferred income, and take the 30% hit.
I am not a tax lawyer, or any other kind of lawyer right now. Nor do I have a very strong opinion on whether this tax is good or bad; I'm just pointing out that there are factual errors in your statements above.
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#129where the hell is the TLDR?
i just want a place to submit an idea and prototypes and get cash ....
Re: Obama's job aid plan - $10,000 to $13,000 in assistance for entrepreneurship
#1301. I run a business. Therefore I make jobs. Or don't. 2. If I fire an employee, a portion of the cost of that person's unemployment claims is charged back to me. The employer. It isn't government largesse that funds unemployment claims. It's me. 3. Will this program be yet another potential cost to me? Hard to tell from the PR and press-gab. We'll have to see the law and how it is implemented. Devil in the details, e…
Hi Phil, I've been following your blog about US taxes, but didn't know you post at HN. Small world.
I also have my doubts about this program. Employers are humans, and humans never associate "quality" with "discount".
Right now, the people who are unemployed face the real risk of exiting the economy altogether, along with their knowhow, and this will cost the economy as a whole in the long term.
Meanwhile, businesses are not going to hire if the consumers aren't there.
The problem with trying to restart the economy with government stimulus is that people are maxed out on their debt. The debt is acting like a sponge, sucking out any additional money that come from the government. The NPR Planet Money talked about how Japan's economy entered its longest growth period post the crash when the PM forced the banks to clean up its bad loans and recapitalize. Subsequently, government stimulus started to take effect. The government has been reluctant to do this, and it will cost the US in terms of its economic dominance as competing countries race ahead on its capital.
I believe any government money is better spent not trying to put people back in employment through incentives, but instead keep these people "engaged" in the economy. Be it through reimbursement of expenses in attending job interviews - fuel is expensive when you are out of work; Making the pool of "consultants" and "contractors" that you allude to more visible.
The mainstay of jobs post crash is going to be a small pool of permanently employed plus casualized, short term contract work. The sooner the government recognizes this, the better.