Once again, Joe along with anyone else who has brought up the $250,000 rich person tax has missed the major point! If a small business own has to report his business’s gross profits as his own income, his employee's payrolls come out of that as well as any other business expenses. By the time Obama takes his pound of flesh out of the small business owner, they might be making less than several of their employees. In reality, they will shut their doors and go out of business. Small business owners make up the majority of employment opportunities in United States.
I thought I saw that running through Joe's mind when Sawyer brought up the figure of $250,000, but he realized that it was way too complicated to explain.
I am self-employed, have been so for years, and my father was (with some brief exceptions) always self-employed (now he's retired). My husband is also presently self-employed.
We know first-hand how ill informed most people are, regardless of politics, of the difference in tax structure for employees and self-employed. When an employee says he gets paid, say, $25 an hour on hourly wage, it's really more like $35 an hour when all is said and done; the self-employed person has to charge about $35 an hour in order to bring home the same bacon as the employee whose paycheck reads "$25" an hour. I understand why Joe didn't want to go there. Sawyer is clearly too dim-witted to get any of it.