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...
We had a dairy farm and almost always made over $250,000 gross, but had expenses over 250K some years and lost money. An extra tax? My pay in 72 was $6,000 and my parents less than $10,000 same for many years after. In 78 I joined the military and went to officer school with a pay of $719 a month! I was simply rich! Most dairy farms make more than 250K today but are actually losing money. One more year of losses (2 in a row) and milk will not be produced in the USA.
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