Obama wants to Raise Taxes on the Employers of Millions of Americans
U.S. President Obama has proposed tax breaks for the poor and middle classes in a bid to reduce income inequality. He wants increased the tax credits for families with young children, extended tax breaks for childless workers, and a permanent tax credit for those paying college tuition. To finance all of his plans, Obama wants an additional $100 billion in taxes from multinationals.
Next Year will be Another $100 Billion
So this president wants to continue to attack American companies who provide jobs, services, and amazing products to the people of this world? Rather than cut taxes and reduce regulations which has proven throughout history to create jobs and opportunities for people so they will not be in such a desperate state in the first place, this President wants to mitigate growth and expansion for American companies. Why even be based in America then?
The President will Waste this Money Too
However, Obama’s proposals are not the last word on the budget as the Republicans have been consistently calling for lower taxes and lower government spending. Whatever the final shape of the next budget and the taxes you have to pay, it is better that you retain the services of a tax lawyer to take advantage of all the tax breaks you are eligible for.
Whether you are an individual or a business, each budget tweaks the tax code and makes changes that affect the final amount of taxes you pay. However, by planning your expenses and business structure to align with the new tax code, you will be able to reduce the effective tax rate for yourself or the business without breaking any tax laws in the country. For this, you need to consult a tax lawyer at the beginning of the financial year as they can help your restructure your business or make your investments in areas that lower your effective tax rate.
The President Loves Europe
The president has always wanted to turn America into a pitiful, weak European like state, according to many knowledgeable people.
A tax lawyer will help individuals and businesses in the country understand the tax code and ensure that they benefit from the tax breaks that are provided to encourage people to go to college, become entrepreneurs, and so on. Once you understand the current tax code and the changes that are made to it each year, you will be able to fine tune your investment decisions to benefit from them.
Everything the President has done in the past 5 years has hurt America. He continues down this road.