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When is someone in the MSM going to explain the reality of the S corp and way small business is really taxed. I run an S corporation with 11 employees. Every year my tax return looks huge> I laugh when I show it to someone to get a loan they always seem impressed. But S corp. profits are taxed as personal income.
I take a reasonable salary out of my business but I pay taxes on the "all the profit" of the company every year whether I have it handy or I take any out for myself and family. A few years ago I had to borrow money to pay my taxes even though my tax return told the government we had a great year. I have high inventory costs, slow receivables, always on time quarterly tax payments among other expenses. Most small businesses, when you say made $250,000 it is likely the owner took less than half of that number home to his family in salary and dividends.
I have added two new employees this year as well as made big capital expenditures that will result in a few of my contractors' and suppliers' employing a few dozen employees as well. I am paying well over 50% in state and Federal income taxes now. I anticipate cutting my Cap-ex by 75% next year (I buy nearly everything from US suppliers(no China) and occasionally from Canada).
Maybe a clear minded accountant or lawyer can simply explain the real deal with a small business making $250,000 a year. t seems clear neither Oh Bummer nor McCain understand exactly what $250,000 income to small business means. Raising my taxes will absolutely result in my company buying less capital equipment and supplies, in turn hurting my suppliers. It will also result in the hiring fewer if any new employees. So how can Obama's one time payout to the middle class really help anyone in the long run.

Never. 38% DON’T pay taxes today and that is going north of 44%. Only about 10% of earners pay much and even if they all voted Conservative (which they don’t increasingly-it’s cultural, ie. pro abortion, pro gay, anti- rural voter), the Rats would still win. They will have 40% in their pocket from the start every election cycle.