Next year the Bush tax cuts disappear and the Presbo tax rates kick in. The top rate on successful small businesses will become 45%, where it is now 39.2%. This is the current top rate on individuals. 8 out of 10 small businesses in the US file their taxes as individuals.
Many countries in the world have figured out that to keep business, that they need to offer companies a tax rate that does not drive them away. Canada went to 15. China is at 25. Ireland at 12.5 percent. Iceland ( that socialist paradigm) is at 15%. Chile is at 17%. Great Britain is ramping down from their current 28% to reach 23% by 2015.
Where is a startup company likely to choose? And how do they keep coming up with the description of “unexpectedly” to describe the result of the lib-prog policies.
This ain’t rocket science.