Small Business Owners, Certain States Hit Hardest By Obama's Tax Increases

Posted: May 20, 2009 2:57 PM
Mike Franc at the Heritage Foundation reports that 47 percent of the tax increases proposed by Obama will be paid by small business owners. He's also got a rather excellent breakdown of disproportionate effects of the tax burden on certain geographical areas.
Wealthy taxpayers in 14 states face annual tax increases in excess of $1,000 per month. In five-- Wyoming, Nevada, New York, Florida, and Connecticut--the annual tax increase exceeds $20,000 per affected taxpayer. At the other extreme, the average annual tax hike will be less than $500 per month in 7 states--West Virginia, North Dakota, Iowa, Alaska, New Mexico, Maine, and Mississippi.
Four of the five hardest-hit states are either blue states or purple states.