Argument: Expiring Bush tax cuts impairs productive small businesses

Issue Report: Expiring Bush tax cuts for the wealthy in 2010


Jay Newton. “Democrats to Propose Extending Bush’s Middle-Class Tax Cuts.” Time. July 21, 2010: “Less than 5% of the subchapter-S companies — small businesses that have less than 100 shareholders and pay individual income taxes — made more than $200,000 in 2007. That 5% packs quite a wallop, though, accounting for more than two-thirds of tax receipts in the top two brackets and representing the wealthiest hedge funds, law firms and lobbying outlets in America, all of which file individual or partnership income taxes, according to IRS statistics.”