Question of the week: Do you support the President raising taxes on 1.2 million small business owners?Posted by Randy | July 13, 2012
This week, President Obama called for a one-year extension of Bush-era tax cuts for households earning less than $250,000 a year, and individuals earning less than $200,000, while allowing taxes to rise for the rest of American families and small business owners.
If no action is taken by January 1, 2013, a 2011 Treasury Department study estimates that 1.2 million Americans, or 28% of the 4.3 million small businesses earning more than $250,000, would be subject to this tax increase.
Curtis Dubay from The Heritage Foundation estimates that allowing these tax cuts to expire would equate to a $494 billion one-year tax increase.
The Wall Street Journal reports, “Obama Intensifies Tax Fight.”
Question of the week: Do you support the President raising taxes on 1.2 million small business owners?
( ) No, all Bush-era tax cuts should be extended for everyone.
( ) No, all Bush-era tax cuts should expire for everyone.
( ) Yes, taxes should increase for households earning more than $250,000 and individuals earning more than $200,000, including 28% of small business owners.
( ) I am not sure.
( ) Other, share your thoughts on our blog.
Take the poll here.
Find the results of last week’s instaPoll here.
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