Friday, December 3, 2010

Comment of the Day

Example, I own my own business and have the following:
1) Take 100K of income
2) 100K of profit that I would like to reinvest.
3) Paid down 100K of principal on my buildings
To the government I have 300K of income and I am taxed as such. If my effective rate is 33%, I have to pay 100K of taxes. There goes my profit, and I have no money to reinvest in my business. Do you understand crr6 and your ilk???
WashJeff on December 3, 2010 at 10:38 AM

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