Obama’s Tax Hikes Would Hit Almost 1,000,000 Americans With Business Income

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Written By:
Rob Port

Jul 17, 2012
11:36am

The left likes to sell Obama’s proposed tax hikes as impacting only what they portray wealthy, do-nothing plutocrats, not business owners and entrepreneurs who create jobs.

Unfortunately, the facts don’t match that talking point.

A new study from Ernst and Young, commissioned by the National Federation of Independent Businesses, shows that the tax hikes would hit some 940,000 Americans with business income including 70% of all S-corporation income, 61% of all partnership income and 13% of all sole proprietorship income.

This means that if you own your own business, chances are you’d be hit by Obama’s tax hikes. Which is just what we need in the middle of a recession, right?

Read the results of the study here.