"Of the 15.5 million individuals whose primary ocupation was self-employment (incorporated and unincorporated), the median personal marginal federal tax rate was 10 percent in 2008. Only 4.1 percent of the self-employed were in the marginal tax bracket of 33 percent or more."
Source: US Dept of Commerce, Census Bureau, Current Population Survey, March Supplement (special tabulation).
So I ask you, do rich people (>$200,000/yr) own small business?
Fact: Small business generate the most new jobs.
Fact: Most small business owners are not "rich".
Conclusion:
If the tax cuts for people earning more than $250,000/yr are allowed to expire, there will be minimal impact on small business, because a majority of the owners of those businesses will not be effected by the tax "increase".
Is this correct? Am I missing something?
No comments:
Post a Comment