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Bush Tax Cuts: Small Business Owners Not Worried About Expiration Of Tax Cuts For The Rich

Taxes

First Posted: 01/23/11 05:12 AM ET Updated: 05/25/11 07:15 PM ET

latimes.com:

But President Obama and most Democrats contend that small-business owners would not be affected much because only about 3% of them earn more than $250,000 a year. Democratic leaders agree with Republicans that those earning less should get a permanent tax break.

Rick Poore helps make their case. The owner of a Lincoln, Neb., clothing firm that employs about 30 people, Poore supports letting the top-level tax rates go up. The reason is simple: He won't be affected. Poore, 56, and his wife clear about $140,000 a year from the business.

"The only people I can think of who can honestly call themselves small businesses that this would effect would be stockbrokers and lawyers," Poore said. "And I don't have a lot of sympathy for either of them."

Read the whole story: latimes.com

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Filed by Ryan McCarthy  |