General Discussion

matt819

(10,749 posts)

36. Absolutely right

Fri Oct 12, 2012, 03:21 PM

Oct 2012

The problem is that the SBA (I think it's the SBA) defines small business as one having fewer than 500 employees and sales up to $50 million. Or something like that. Then there's a description that addresses the number of partners in a limited liability partnership or members in a limited liability company. This is where small business can encompass the hedge funds that Joe Biden referred to last night.

So the more accurate description is the one Biden used, where 97% of small businesses earn less than $250,000. The liars and cheats insist on calling that remaining 3% "small businesses." That is what we in the reality-based community call BS.

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I'm a small business owner and I make less than $60,000 a year. [View all] geardaddy Oct 2012 OP

They only think of the Trump businesses as small Sekhmets Daughter Oct 2012 #1

Thats what Joe said last night madokie Oct 2012 #3

Yep, I loved it when he said that! geardaddy Oct 2012 #4

The average small business owner makes between 40 & 70,000/yr. JaneyVee Oct 2012 #54

Me too. Obamacare is important to my business. Tax rates are not. n/t lumberjack_jeff Oct 2012 #2

Exactly. n/t geardaddy Oct 2012 #5

Agreed. I ran my own business for three years. It was more work in one day... HopeHoops Oct 2012 #6

Yep, straight up, HH. geardaddy Oct 2012 #12

Wish I could rec this twice! wildeyed Oct 2012 #7

Thanks! geardaddy Oct 2012 #8

Good points LeeM Oct 2012 #20

Exactly Loudestlib Oct 2012 #21

You could also reinvest in infrastructure and depreciate the cost over a number of years. wildeyed Oct 2012 #53

I rec'd it for you...I too ran a small business..and my hourly pay was less then when angstlessk Oct 2012 #23

Recommending it for you. Okay ChazII Oct 2012 #62

I've owned my own small business for over 45 years & all I can say is me too. Pyrzqxgl Oct 2012 #9

Same here Cracklin Charlie Oct 2012 #10

Exactly! geardaddy Oct 2012 #14

Ding Ding Ding Ding Ding! MANative Oct 2012 #52

Right there, absolutely, that's me. I f**king hate health insurance companies. byronius Oct 2012 #11

Same here ..... I make a little more but the idea that I am making >$250,00/yr ... Botany Oct 2012 #13

Bingo! geardaddy Oct 2012 #15

this year has been much much better and the economy is turning around but .... Botany Oct 2012 #19

I am actually doing better this past year and a half geardaddy Oct 2012 #25

Small business owner here, too. Lone_Star_Dem Oct 2012 #16

Thank you for adding that. geardaddy Oct 2012 #26

Most "small business owners" make less than $100,000. Curmudgeoness Oct 2012 #17

Bingo.... Swede Atlanta Oct 2012 #18

Yes. Thank you. Risen Demon Oct 2012 #22

Hey now, cockroaches at least serve a purpose. raouldukelives Oct 2012 #55

Thank you for pointing that out. geardaddy Oct 2012 #24

Thank you. geardaddy Oct 2012 #27

The small business administration has a table that lists most small businesses A Simple Game Oct 2012 #28

Posting in solidarity with my fellow small biz owners Doremus Oct 2012 #29

Thanks! geardaddy Oct 2012 #32

Me too. I'm in my 12th year. progressoid Oct 2012 #30

Amen, brother. Ikonoklast Oct 2012 #31

Thanks. geardaddy Oct 2012 #33

The tax rates can be an issue Sgent Oct 2012 #34

Link? geardaddy Oct 2012 #38

I'm not sure what you mean by link Sgent Oct 2012 #48

I mean, link to comparative tax rates between the U.S., Canada, and Europe. geardaddy Oct 2012 #49

Wikipedia starts well Sgent Oct 2012 #57

OK, thanks for the link. geardaddy Oct 2012 #66

But the business will get a deduction for the new machinery ... dawg Oct 2012 #39

Someone in that level bracket Sgent Oct 2012 #47

Sec 179 expensing is fully allowable for AMT. dawg Oct 2012 #50

Sec 179 Sgent Oct 2012 #56

Section 1245 property includes machinery, equipment, vehicles, computers ... dawg Oct 2012 #58

Working capital Sgent Oct 2012 #59

Since we are mostly talking about relatively large businesses here ... dawg Oct 2012 #60

I generally agree Sgent Oct 2012 #63

I am a small business owner and I wish I made something even CLOSE to $60k. kestrel91316 Oct 2012 #35

That's gross. n/t geardaddy Oct 2012 #37

Absolutely right matt819 Oct 2012 #36

The biggest problem for small business in America is .... big business. dawg Oct 2012 #40

And the Republican Party serves big business (and billioniares). moondust Oct 2012 #41

Excellent analysis. geardaddy Oct 2012 #44

another small business owner in agreement grantcart Oct 2012 #42

Solidarity GC! geardaddy Oct 2012 #43

Please stop being a sole proprietor jmowreader Oct 2012 #45

Technically I am an LLC now. geardaddy Oct 2012 #46

Nothing technical about it jmowreader Oct 2012 #65

You and I are in the same boat, friend. MANative Oct 2012 #51

Thanks geardaddy Oct 2012 #68

Single-person small business family here too. And yeah, hubby listened to the debate and said, "What GreenPartyVoter Oct 2012 #61

Self-employed for 19 years (!) Lydia Leftcoast Oct 2012 #64

Thanks Lydia. geardaddy Oct 2012 #67

Translators are usually paid by the word, not by the hour Lydia Leftcoast Oct 2012 #70

At least Biden called 'em out on it. rucky Oct 2012 #69

I'm right there with you! savalez Oct 2012 #71

Republicans only talk about being friendly to small business. Cleita Oct 2012 #72

You are obviously not working hard enough, Blecht Oct 2012 #73