Senate Extenders Bill Raises Taxes on 1 Million Small Businesses (This Bill Is Full of S. Stuff)

ATR ^ | 6/22/10 | Ryan Ellis

[Andrea19]

When the Senate takes up the extenders package, one of the provisions (found in Section 413 of the amendment language) would for the first time impose the self-employment tax on S-corporation profits earned by firms with three or fewer shareholders, and in which 80 percent or more of the gross income is derived from “personal services” (health, law, lobbying, engineering, architecture, accounting, actuarial science, performance arts, consulting, athletics, investment advice/management, and brokerage services)...

Read more: http://www.atr.org/senate-extenders-bill-raises-taxes-onbr-a5116#ixzz0rbS2ibD4

[Andrea19]

Freed from the constraints of having to build a budget, even though every Congress from either party could block filibusters to pass budgets, the Democrats plan to spend like there is no tomorrow.

Help promote Conservative activism here & here & here & here

[SMARTY]

“O” is going to raid the till... to the last penny!

[Freedom56v2]

Isn’t it amazing that they simply did not submit a budget—isn’t that a constitutional responsibility? Not that it would matter....

[backwoods-engineer]

This ruins business for my and many other engineering/product development consulting businesses.