The S Corporation Association today responded to reports that President Obama would press to raise taxes on S corporation owners and other taxpayers earning more than $250,000 a year:
“ Pass-through businesses like S corporations employ the majority of private sector workers. The President is proposing to raise taxes on a large number of their employers, putting those jobs at risk. According to the Joint Committee on Taxation, more than half of all pass-through income is taxed at the top two tax rates. Raising taxes on that much economic activity at a time when unemployment is already too high is harmful and dangerous. Instead of advocating for tax hikes, the President should embrace the House of Representatives plan to extend all rates for one year while putting into place a process for considering much-needed tax reform next year.”
ABC News on Pass-Through Tax Hike
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