As someone who advocates for thousands of small businesses, I know they want fact, not spin. Unfortunately, too often we hear inaccuracies and misinformation about how government policies affect small businesses. Ending the Bush-era tax cuts for the richest 2 percent of Americans is one policy where small business has been caught up in a whirlwind of spin.
So how would allowing the two top tax rates to return to their pre-2001 levels affect small business owners, most of whom pay income taxes on their business income through their personal tax returns.
Everyone seems to agree that less than 3 percent of small-business owners with “pass-through” business income — income from partnerships, S corporations and sole proprietorships — would be affected should these tax cuts end.
But supporters of extending the high-income tax cuts then argue the top tax rates cannot be allowed to return to their pre-Bush levels because, they say, these 3 percent of small businesses employ about half of the workers in small businesses and also account for about half
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