As Guy wrote about already, President Obama is proposing $50 billion in new spending on the backs of America's small business owners, otherwise known as those who make more than $250,000 per year. House Majority Whip Kevin McCarthy is out with a new video today explaining why the "rich" tax hike Obama is proposing will only make a bad situation worse for those who are barely capable of being successful in this economy. "This is Small Business America," profiles S corporation owner Jerry Gorski, who lives just 15 miles away from where Obama will kick off his campaign today...
The first 250,000 is not taxed at the higher rate. Anything OVER 250k will be taxed three percentage points higher. So if you make 260k you will pay 300$ dollars more on the 10k over 250,000. The claim that that will hurt small businesses ts just ridiculous. The Republican party shills for the rich. Why do people vote against their own interests?
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