12/21/2012

President Barack Obama wants to allow tax rates to rise for people who earn more than $400,000 a year; Speaker of the House John Boehner, R-Ohio, has suggested using $1 million as the threshold for tax hikes. The impact of either proposal is hard to judge, but some small businesses probably would be affected. Raising rates for those who make more than $500,000 could affect 750,000 small-business owners, according to research by the Treasury Department.

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