Monday, March 30, 2009

Politically Incorrect

The "small business owner" has become a neat and sympathetic jumping off point for nearly all praise - or criticism - of the policies being put into place during this economic crisis.

But just how much is the small business owner being affected - and how?

I looked at that question in my Smart Answers column last week, specifically focusing on the tax increases in the budget proposal President Obama has put forward.

Just broaching the topic of higher taxes with small business owners is like waving a red cape in front of a bull (as you'll see in the lively discussion following the column!)

But I was determined to get past the hype and find some good, non-partisan analysis of what the impact really will be on entrepreneurs. I was delighted to connect with the Tax Policy Center, which has done detailed analyses on the proposal and how it would impact individuals who have small business income and are in the top two tax brackets.

It's dense, but the conclusions are quite interesting. As a small business owner myself (this year marks my 20th year of self-employment), I'm grateful to get the scoop without the political verbiage.

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