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It's misleading to suggest that only 3% of small businesses would be impacted by ending the Bush...

It's misleading to suggest that only 3% of small businesses would be impacted by ending the Bush tax cuts, Kevin Hassett writes; 48% of the net income of sole proprietorships, partnerships and S corporations goes to households with incomes above $200K. "That's the number to look at, not the 3%," which counts everyone who makes a few bucks on eBay.
Comments (7)
  • Tom Au, CFA
    , contributor
    Comments (6775) | Send Message
     
    It's all in the "definition, isn't it.
    3 Sep 2010, 05:35 PM Reply Like
  • TXBankingExec
    , contributor
    Comments (123) | Send Message
     
    Lies, damned lies, and statistics.

     

    And thats coming from a quant, LOL.
    3 Sep 2010, 05:55 PM Reply Like
  • hayekvonfriedman
    , contributor
    Comments (570) | Send Message
     
    "For those who are determined to tax the rich at all costs, and are therefore willing to accept the claims of the Obama administration without scrutiny, the tax hikes may well make sense. But the evidence is clear that lifting the top rates will hamper the business investment upon which our nation's prosperity depends. That affects all Americans, not just 3%."

     

    Don't you read the papers or listen to the news or are you a just a "hater" on this "hope and change" thing?
    I heard today that Obama might "fire" his economic team and he is "talking" about a targeted tax cuts in R&D and maybe even an employer tax holiday.

     

    Now there's some substantive economic ideas, I'm ready to invest in the market Monday, and open a new business Tuesday!
    So tell me again why I shouldn't believe Team Obama?
    3 Sep 2010, 06:02 PM Reply Like
  • dw57
    , contributor
    Comments (507) | Send Message
     
    depends on what you by small businesses. and whether you are talking about the income from them. as a percentage of 'small' business, they are correct. if you are talking about the income from them, you might be correct. its just depends on what you mane by small business. most people think of small business as those with fewer than 20 employees. which isn't what those who claim it will impact small business mean. they seem to include them up to the size of 1000 employees. some small business
    3 Sep 2010, 06:05 PM Reply Like
  • Jackson999
    , contributor
    Comments (468) | Send Message
     
    "But the evidence is clear that lifting the top rates will hamper the business investment upon which our nation's prosperity depends. That affects all Americans, not just 3%."
    --------
    Really? We don't seem to be seeing much "prosperity" right now. All we see is big corporations hording their cash and continuing to ship jobs overseas, while small businesses don't seem to be doing much local hiring at all.

     

    How many jobs have we LOST since 2001 when the tax rates were TEMPORARILY adjusted downward?

     

    It would appear that lower tax rates are not the job creator that the right wants everyone to believe they are.

     

    And what are we talking about anyway in terms of restoring the tax rates for the well-to-do back to what they were in 2000? An additional 3% on the last dollar? Wow. That's just outrageous isn't it? Jeez.

     

    Furthermore, the Rep's keep harping on deficit reduction. Keeping the tax rates where they are now will result in less deficit pay down. Don't you well off people want to help the USA? [roflol]
    3 Sep 2010, 06:11 PM Reply Like
  • phoneranger
    , contributor
    Comments (350) | Send Message
     
    If only the AEI guys were back in charge of our economy. I am sure Boehner and McConnell will be eagerly awaiting their counsel. After all they are all paid by the same folks.
    4 Sep 2010, 08:32 AM Reply Like
  • Hendershott
    , contributor
    Comments (1498) | Send Message
     
    Everyone who sells on eBay makes over 200 grand?
    4 Sep 2010, 09:58 PM Reply Like
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