No federal income tax, you mean. Those sluggos still pay the payroll tax, but that doesn’t do anything to ease the deficit.
I don’t pay any federal income tax....but I pay maximum on self employment tax....around 17k
And 250k in state and local taxes
After all that and interest and depreciation allowances7 dependents...there isn’t much left to tax
I hope that is enough to satisfy everyone here..from businesses that do around 2.5M in gross sales...with around 12% cash flow in 2010
Or am I the bad guy?