Doc Freeman Wrote:
Oct 08, 2012 1:33 PM
Top five worst Obama tax hikes on small business 10/02/12 If President Barack Obama is given a second term, one vitally important group of taxpayers—small employers—will face five key tax increases: 1. Income tax increase. A pillar of President Obama’s re-election campaign is a hike in the top two marginal income tax rates. By and large, small employers pay their small business taxes using individual tax rates. If individual tax rates are raised, so are small business tax rates. The top income tax rate is scheduled to rise from 35 percent in 2012 to 39.6 percent in 2013. According to IRS data, a clear majority of all small business profits face taxation at this top marginal income tax rate. For all intents and purposes, the top inco