250K Small Businesses and Taxes

[Lanse couche couche]

An issue came up in the debate that has me confused. Palin seemed to indicate that taxing annual incomes of $250K and higher would create problems for many small businessowners who fall in that income range and are far from "rich." On the other hand,Biden said something to the effect that 90% of small businesses would fall under the $250K, and therefore the taxes would only impact those that are truely rich. Which perspective is correct?

[burniegoeasily]

I have been involved in my family businesses that had annual revenue above 250 k a year, and we are far from rich. I also have friends who farm family lands that see 250k come and go every year. I believe that many small to average size businesses are going to get hit, leaving us with those big bad business that the demos seem to loath.

[oldelkhunter]

I think Bidesn numbers are very skewed.Most of my family is either in the restaurant,real estate,manufacturing sector and I know a lot of small to medium business owners outside my family that live in my state. They allwill l safely surpass the 250k limit on salary alone never mind business revenue. One or two of the people I know are seriously rich the others are living comfortably, I guess they don't deserve that since they work 60-80 hour weeks with short vacations.

[bugsNbows]

250 K for small business $ is NOT very difficult to attain.