Our take: Where is the life-blood of our country's revenue? Small business. If tax policy changes, this artery could be cut. In this article, Gail Collins discusses the importance of small business in our economy and how this budding resource does not need to be stunted. Gail Collins is an opinion columnist at The New York Times.
The typical American business owner does not pay corporate taxes. He or she subtracts expenses from revenues and declares the bottom line as income. There are many, many advantages to this approach. You can avoid corporate tax rates, and its a lot easier to deduct things.
When the Republicans claimed that capping the Bush tax cuts at $250,000 would hurt small businesses, the Obama administration quickly retorted that only about 3 percent of the small business owners have incomes above $250,000.
- US says fuel economy likely won't meet 2025...
- US homebuilder sentiment slips in July
- Netflix facing tougher times as US subscriber...
- US stock indexes pull back after a strong...
- Goldman 2Q earnings jump, helped by lower...
- Store decor company to expand in Cedar City
- Independent state agencies routinely violate...
- Why your co-workers come to work sick
- Local government board fostered... 16
- Salt Lake's 'passive' house a model of... 6
- BLM releases blueprint for oil and gas... 4
- Provo airport expansion could provide... 4
- Millions being spent gambling at 2... 3
- Goldman 2Q earnings jump, helped by... 1
- Independent state agencies routinely... 1
- Why your co-workers come to work sick 1