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Tipsheet

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

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.
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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.

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