Barack Obamas Tax Cut For 'Small Business 2/2
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So, Obama says he wished to undo the Bush tax cuts for those making over 250k. Taxing Gross Receipts instead of income after deductions is completely different from the current method of taxation. He hasn't proposed any such change. He clearly states that the tax will apply to those "making" over 250,000/year. Not those whose businesses has 250k in gross receipts prior to expenses, not those whose net worth is over 250K.. No.. Only those who take home with them over 250k/year.
scotths 3 years ago