Home -> Law Blog Directory -> Legal Commentary Blogs -> Discriminations

Legal Commentary

: Discriminations

Taxing Questions

In defending his proposed tax increase in last night?s debate, Sen. Obama said, as he has said on numerous occasions,

Only a few percent of small businesses make more than $250,000 a year. So the vast majority of small businesses would get a tax cut under my plan.

Let us assume, for the same of argument, that this statement is true. So what? It?s almost totally irrelevant.

What?s relevant is how many of those ?individuals? making over $250,000 are not rich fat cats but actually small business owners reporting their income from their businesses on their personal returns. It would also be useful to have a breakdown of these small business owner-individuals by the number of their employees.

Many small businesses are sole proprietorships run almost as a hobby, or a second or third job. But the small businesses that are their owners? primary source of income, especially the ones that employ others, are the real engine of employment in the economy, and Sen. Obama?s glib evasions mask the fact that his proposed tax increase would place a serious stain on that engine, a governor president limiting its top speed.

Full post as published by Discriminations on October 08, 2008 (boomark / email).