B_starinvestor
Experimental Member
Citation that Obama will close corporate tax loopholes: also page 24 of the 2008 Democratic Party Platform.
Here's a 'loophole' that you can mail in to the 'loophole closer.' Small business owners who make, say $250K per year, will simply reduce their W-2 incomes to $50K per year - evading Obama's ridiculous FICA 'unlimited ceiling' - and take the rest of the $200K as an income distribution from the corporation which is not subject to FICA. [savings - $31K]
And, they'll probably be forced to cut 1 to 2 employees in order to survive the increased tax expense that your hero is imposing. He's a great public speaker, don't get me wrong. But he and Tony Robbins ought stick to public speaking...