The Washington Post on the potential impact of Fiscal Cliff tax hikes on small b...

?The Washington Post on the potential impact of Fiscal Cliff tax hikes on small businesses:

?So much of the discourse on the fiscal cliff has focused on the likely effects of rasing taxes on the middle class and the wealthy, which has overshadowed the bigger issue at hand: how to avoid raising taxes on the one vehicle that can get the economy moving ? small businesses.?

?What policymakers fail to realize is that most small business owners, who also employ most of the country?s workforce, declare their business profits on the owner?s personal income tax return and are taxed at the personal income tax rate. Given that the net income number for many will be over $250,000, the proposed tax hikes could have a dramatic effect on small businesses and the growth and hiring decisions they will make.?

Source: http://www.facebook.com/SmallBusinessCommittee/posts/437766076276712

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