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Author Topic: Is it time to Fly a European Business Flag?  (Read 1665 times)

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Re: Is it time to Fly a European Business Flag?
« Reply #15 on: May 15, 2015, 04:53:21 PM »
Well compare to New Hampshire an LLC (Me) has to pay:

1. Obama increased Federal Tax = 40%

2. Obama increase Social Security = 16% self employed

3. Obama increased Medicare "Surcharge" = 5%

4. State of NH Business Profits Tax = 9%

5. State of NH Workmen's Comp Insurance = 5%

6. State of NH Unemployment Comp Insurance = 5%  (Subtotal 80%)

7. Federal and State Gasoline Taxes approx 2%

8. Federal and State Internet, Telephone and Cell Phone Taxes approx 2%

9. Cable TV Taxes approx 1%

10.  Property Tax about 5% to 10% depending upon how luxurious your property...

Subtotal 90%

10. Obama invented Affordable Care Act 12%

Grand Total 102% of your income not to mention annual LLC filing fees, auto registration fees and taxes and hunting and fishing licenses, business licenses etc etc...

So you basically have to keep two sets of books just to survive and do as much under the table in the cash economy as possible with a really creative CPA if you do not want to pay 105% in taxes and fees in the NewObamerica Socialists Paradise...

Many middle class buy an income property commercial residential and then the PITI (Principal Interest Taxes and Insurance) and maintenance is all tax deductible - well Principal is not deductible but most mortgages are written on a sliding scale where the majority of the payment is front ended on interest with very little going to principal so for all intents and purposes the full PITI is deductible.

Most small businesses are happy to retain 20% profits after taxes and fees to grow their businesses and the Obamunists have sunk their hooks into the profits for Urban free healthcare - ACA - Obamadoesnotcare...

Now you see why Peter Schiff (CNBC Guest) moved his entire operation from California  with even more punitive Millionaire and Billionare Taxes to Puerto Rico offering a 4% territorial tax (No 40% Obamaunists Federal IRS taxes) to attract service companies (Hedge Funds, Web/Internet marketers, Software Companies etc) to create jobs and diversify the near 100% Tourism and Illegal Drugs dealing economy there.