"It's an embarrassment to the country. It's an insult to my intelligence," he says.During the presidential campaign, Republican candidate Mitt Romney contended that small business owners would be hit so hard by the scheduled increase in the top tax rate â¿¿ a jump from 35 percent to 39.6 percent â¿¿ that they'd stop creating jobs. That rate would affect single taxpayers who earn $200,000 or more and households that earn $250,000 or more. But Democrats and advocacy groups including Small Business Majority say the number of business owners who would be affected by that increase is less than 5 percent.
Small Businesses Already Slipping Off The 'cliff'
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts