Monday, September 20, 2010

98.1% of small businesses need not fear

You've heard the GOP bogeyman about how letting the upper income tax breaks expire will seriously harm small business, right?

How many of them will be affected, really?


And it's really only marginal income that would return to a higher rate, so they'd have to rake in really big bucks IN PROFITS (tax is not based on revenue but net taxable profits) to even feel the effect.

So I'm not going to lose sleep over small businesses in America.

And I'm certainly not going to lose sleep over the billionaires.

But I do worry about the working class and the poor.

And now you have some facts you can pull out when anyone starts the small business song and dance.

h/t to TPM

--the BB

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