Not Many (3%) Small Businesses Fall Into The Over $250K Bush-Era Tax Cut Pool

Is Obama aiming to hike taxes on ‘small business’? – The Fact Checker – The Washington Post.

Click for the FACT CHECKER

The result, according to the Joint Committee on Taxation, is that only 3 percent of all “small businesses” paying taxes would be affected by Obama’s plan to lift marginal tax rates on families making more than $250,000 and individuals making more than $200,000. (See page 25 of the JCT report.) That group — about 750,000 taxpayers — accounts for 50 percent of the estimated $1 trillion in business income reported in 2011. The other 97 percent of “small businesses” shared the rest — and under Obama’s plan, they would get to keep their Bush-era tax cuts.

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About R in burbs

i-ˈnig-mə ~ e- in-ˈten(t)s ~ ˈkā-ˌäs ~ ˈdrōl ~ ˈsi-ni-kəl Curator of various varied blog blurbs from R in the burbs; including gripes, politics, entertainment, and other important matters of incivility and injustice. View all posts by R in burbs

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