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Rich? A Look at What $250,000 Means

kcopeland Wrote: Dec 01, 2012 1:36 AM
1st year as an S Corp- was a C Corp for 5 years. We had expansion plans in mind. Im not in danger of being hit with the tax this year. 2 things Im doing I didnt think I would: Invest in an expensive computer work system allowing for substantial increase in productivity and 2 not expanding beyond our 2 employees. IF we do our dreams and are successful, we'll cut back, defer more into additional deductible retirmement vehicles and accellerate expenses. This sucks and ironically as a realitive "start up" we were the MOST likely to start hiring. Not now. More Change is just going to be permanent ongoing structural unemployment..

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...