Quote of the day

The title of Yglesias’ post:

Rich Small Businessmen Are Rich

A point that is often ignored, with all the focus on how important “small businesses” are.  Kim is a small businesswoman, but as she sure doesn’t clear over $250K, I’m quite fine with raising these rates (actually, I’d be quite fine with it, too, if Snapdragonsbaby pulled down that kind of money.  Somehow, I could live with our marginal rate going up 3-4%).

I’ll let Yglesisas finish it off:

Nothing against small businessmen—some of them do some good stuff. But so do some executives at large businesses. So do some highly paid entertainers. The point is that if you own a small business and through your small business you derive an extremely high income, then you’re a rich person. Just like a rich lawyer is a rich person and a rich basketball player is a rich person and a rich Senior Vice President at Gigantocorp is a rich person. So of course when we try to tax rich people via progressive taxes, some of the rich people who pay the tax will be small business owners. And there’s nothing wrong with that.

About Steve Greene
Professor of Political Science at NC State http://faculty.chass.ncsu.edu/shgreene

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