delayjf
10-20-2008, 01:32 PM
Some interesting fact with regards to small businesses that will be getting a raise in their taxes.
Source: “The Small business Economy (2002-2003)” a report to the President of the United States. http://www.sba.gov/advo/stats/sb_econ02-03.pdf
According to the report, there are over 20 million small businesses in the US.
- Small businesses generate 52% of the GDP.
- Out of the @20 million small businesses – only @500,000 reported income greater than 250,000. So technically Obama is telling the truth when he claims that 95% of small business in America don’t make more than 250k.
And now for the other side of the story ( what Obama is not telling you)
THE 500,000 SMALL BUSINESES THAT MAKE OVER 250K ACCOUNT FOR 80% OF THE TOTAL REVENUE GENERATED BY SMALL BUSINESSES. Therefore, given Obama call to raise taxes on businesses making 250k will apply to those businesses that produce @ 90% of this nations GDP.
Source: “The Small business Economy (2002-2003)” a report to the President of the United States. http://www.sba.gov/advo/stats/sb_econ02-03.pdf
According to the report, there are over 20 million small businesses in the US.
- Small businesses generate 52% of the GDP.
- Out of the @20 million small businesses – only @500,000 reported income greater than 250,000. So technically Obama is telling the truth when he claims that 95% of small business in America don’t make more than 250k.
And now for the other side of the story ( what Obama is not telling you)
THE 500,000 SMALL BUSINESES THAT MAKE OVER 250K ACCOUNT FOR 80% OF THE TOTAL REVENUE GENERATED BY SMALL BUSINESSES. Therefore, given Obama call to raise taxes on businesses making 250k will apply to those businesses that produce @ 90% of this nations GDP.