3% or 48%?

What will the impact be of the elimination of the Bush Tax Cuts? Proponents of eliminating the cuts note that only 3% of small business owners will be impacted. Well, that’s true…but it’s anything but the whole story.

As Joe Kristan has noted, the real number is the amount of income that will be pushed up into higher tax brackets, and it’s a lot more than 3%. It’s 48%, as noted in a recent Wall Street Journal op-ed.

Joe has plenty more to say about it (here and here).

Tags: ,

Comments are closed.