Only 4.3 million small business filers employed workers. Of those 4.3 million small businesses, 1.2 million — 28 percent — earned over $200,000, meaning that a large share would be hit by Obama’s proposed tax increases.
Those 1.2 million small businesses earned nearly all — 91 percent — of flow-through business income in 2007, the most recent year data is available.
“So they’re the ones earning all the income, meaning they’re the ones doing all the hiring,” Dubay said. “So [Obama’s] tax increase is tailored directly to slam small business job creators.”
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