Wednesday, October 8, 2008

P.S.

How does Obama figure that his plan to hike payroll taxes on anyone making over $250,000 won't hurt small businesses because so few of them fall into that category? Does he mean that small business owners reporting their corporate taxes on their personal returns (those owning LLCs, partnerships, or S-corps) typically don't report more than $250,000 in income annually, or that small corporations typically don't report more than $250,000 in income annually? The latter seems unlikely. I'm not a tax expert or anything like it, but his plan doesn't make sense, and his web site doesn't help. Even slightly.

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