The Real Truth About Taxing Small Business Owners
Check out this article called “The Politics and Economics of Taxing Small Business Owners” by Small Business Trends to see a very honest and balanced view of the issue of taxing small business owners…
“President Obama wants to raise taxes on households making more than $250,000 per year by letting President Bush’s tax cuts on upper income earners expire. Mitt Romney opposes this move, saying that raising taxes on the wealthy would hurt job creation.”
“Because both candidates want to appeal to small business owners, each is careful to argue that his approach is better for them.”
“The president is focused on how many small business owners will be affected by his tax increase, which is relatively few. The Office of Tax Analysis at the U.S. Treasury crunched the numbers for 2007, the most recent year that data are available, and reported that only 4 percent of small business owners would be subject to a tax increase if the Bush tax cuts expired.”
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