[Alberta's Child]

Both the House and Senate bills are such half-@ssed attempts at "tax reform" that I wouldn't hold it against anyone who opposes it.

Sen. Johnson raises valid points here, but anyone in business who is in a high tax bracket surely has the resources to conduct business as a corporation instead of as a sole proprietor or partnership.

[pfony1]

I own a business that reports its net income on a “Schedule C”. That net income is a component of my Adjusted Gross income on page 1 of my 1040.

If our “goal” is to tax “business income” at 20%, why not simply:

1. delete all Schedule C income from our calculation of “Adjusted Gross Income” on page 1,
2. calculate the tax due on the remaining components of AGI and then
3. add a tax computed at 20% of “Schedule C” as an “additional tax” on page 2 of my 1040?

Won’t that get us to our “goal”?