News You Can Believe

Taxpayers Paid $24K Per ‘cash For Clunkers’ Vehicle

The average rebate was $4,000. But the overwhelming majority of sales would have taken place anyway at some time in the last half of 2009, according to Edmunds.com. That means the government ended up spending about $24,000 each for those 125,000 additional vehicle sales.

It Took Just Minutes To Find Profound Stupidity In Pelosi’s Bill

…This provision creates incentives for businesses to keep down payroll. One way would be not to hire anyone whose compensation would fall under the definition of payroll under the bill.

In other words, outsource whatever you can. Hire a software engineer in India, or ship manufacturing to China, or structure your business in such a way that you send 1099s not W-2s to the people who work for you (and hire an accountant and tax lawyer to navigate IRS rules on independent contractors).

The message of the bill is that whatever you do, if you want to grow your business without paying the health care tax, do not add employees.