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Bush tax cut lapse hits small biz owners with $200K incomes
A Democratic plan to allow expiration of George W. Bush tax cuts at year’s end would hit nearly a million small business owners with annual incomes of $200,000 or more, according to the chairman of the House Small Business Committee.
“This plan would raise taxes on about 940,000 small businesses,” Rep. Sam Graves, R-MO, said in a statement. “This simply doesn’t make any sense.”
About 30 million small businesses are in the United States.
For more information: http://smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=305351
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