Small business

I have heard friends say that they wish they had to pay a million dollars in income tax meaning that they would be making 2 million. There are not many people who work for wages that make 2 million dollars a year. Those who make that kind of money in the form of wages are mostly small business owners. These are people, who knowing that half of small businesses don’t make it five years, charge ahead many times mortgaging their homes and work 16 hour days for years to finally get ahead. Now they are making 2 million a year and have 50 employees and would like to expand the company and hire more people but instead of using the extra million for growth they must pay it out in income tax. These are the people who create 70% of the jobs and most of these are full time with benefits. There are six million small businesses that have employees and this is where much of our innovation and new products are created.