Very Few Small Business Owners Would Face Tax Increases Under President's Budget

[Mick Jagger]

VERY FEW SMALL BUSINESS OWNERS WOULD FACE TAX INCREASES
UNDER PRESIDENT'S BUDGET


Vast Majority Would Benefit from Other Key Proposals​

Some critics of the President’s budget charge that his proposals to roll back tax breaks for taxpayers with incomes over $250,000 would harm small businesses. In fact, only 8.9 percent of people with any small business income have incomes of over $250,000 and, thus, would even potentially be affected by these provisions. And that figure substantially overstates the percentage of people with small business income who would actually be affected by these provisions; for example, only 1.9 percent of people with such income currently are in a tax bracket with a rate higher than 28 percent. As a result, the percentage of people with small business income who would be affected by proposals to increase the top two tax rates or limit the value of itemized deductions to 28 percent of deductible expenses would be extremely small.

http://www.cbpp.org/2-28-09tax.htm

 

[Calabrio]

You're not going to respond, but that 8.9 percent figure is very deceptive.
That's of all businesses that classify themselves as "small businesses."

So each hot dog vendor you see on a street corner counts as a business.
All of those one man operations, even the weekend warrior guy who cleans gutters on Saturdays, counts as a small business. Knowing this means that 8.9% figure is utterly worthless. 2 street vendors are counted the same as the 2 small manufacturing facilities that employ 400 employees between them.

"Small business" creates about 60% of all the jobs in the country. And Obama is going to raise taxes during a recession, costing more jobs. But don't worry, he's expanding unemployment, so you can be a dependent slave of the federal government.

 

[Mick Jagger]

Anyone operating a 400 man manufacturing business in such a way that the income of the business is taxed as person income is an idiot.