Off-Topic: Have to define small business
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Name:
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MartiniMan
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Subject:
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Have to define small business
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Date:
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11/19/2010 9:18:46 AM
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GF, according to salary.com small business owners (less than 250 employees) average annual salary is $236,600 (these are W-2 wages and not profit from the business). If you add in their other source of taxable income, which is the profits from the business, it seems to me highly likely that the average annual taxable income is over $250,000. So do more than 50% of small businesses as defined by salary.com have annual income over $250K? Not sure but it certainly seems plausible. A better number to use would be the median but I could not find it.
Regardless of whether it is 20%, 30% or 50%, why would you want to raise taxes on even one small business thereby taking away valuable financial resources to grow their businesses and hire more employees? What is the sense of doing that at any time, but even less so in these times of ~17% real unemployment? Frankly, it is strictly the odious class envy argument that most Americans (except left wing nuts) abhor, including those that are not in that income class. Why do they detest class envy? Because in America we have millions of examples of individuals that through hard work and risk taking have risen from lower income levels. Americans in their heart of hearts understand that this can be accomplished by anyone and they hope for that themselves. This recognition makes them rightly detest class envy.
But left wing nuts feel differently and generally fall into three categories: 1) those that have wealth and have no problem taxing income because they have the ability to avoid those taxes and do so diligently whilst lecturing the rest of us about our greed; 2) those that were indoctrinated in schools and never really outgrew the naivete; and 3) losers that lack the drive, ambition, brains or desire to achieve and resent everyone else that has and feel entitled to be the recipient of shared wealth. Fortunately this only comprises about 20% of the electorate.
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