Quote:
Originally Posted by spence
It's important to note that the small business owner taking home 233K in this example would still have the Bush tax cut under the Dem plan. It's only the portion of income over 250k that would be subject to the old rate.
Put into this perspective the tax plan really does only significantly impact very high earners.
-spence
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Spence, from my understanding a person filing a single return would have
an increase if making $200,000 while those filing jointly would have an increase
if over $250,000 in income.
With most husband and wife working,and filing jointly it wouldn't take much for the small business man
averaging $233 K to reach the $250 K and that's just based on average.
In today's economy I wouldn't consider $200 K or even $250 K RICH
for the average family of 4.