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IRS Data Shows that Businesses Will Bear Brunt of Obama’s Tax Hike

From the Tax Foundation website: Today, President Obama renewed his call for allowing the Bush-era tax rates to expire for families earning over $250,000 while extending the lower rates for taxpayers below that threshold. The president and his economic team tend to dismiss the impact that such as tax hike will have on business activity because only 2 or 3 percent of taxpayers with business income are taxed at the highest rates.

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