[GoLightly]

The $150,000 the company nets goes right to his taxable income which is now reported as being $275,000 once it's combines with his take home pay for the year and he has to come up with the 35% (and going up under Obama) even though he doesn't have that other $150,000 in hand.

With some forms of business, yes. For many other forms of corporations, the corporation is a different taxpayer & profit is automatically charged taxes at the corporate rate from dollar one.

A guy could have an income of $40 K for himself & a corporation that has $300K in profit. Much of that $300K in profit could be tied up in inventory, like food on the shelves at your local grocer. He may benefit some chump change at his personal income level with the Obama plan, but with a higher corporate rate it's gobbled up & then some.

[Daus]

With some forms of business, yes. For many other forms of corporations, the corporation is a different taxpayer & profit is automatically charged taxes at the corporate rate from dollar one.

Yes, if you a C Corp and sufficient revenue is generated from people other than yourself you can be taxed separately. S-Corp and LLC's I think are always on the hook for taxes personally (though I do not profess to be a tax accountant, just a pissed off LLC and S-Corp owner.) :)