Ok when Obama eliminates the bush tax cuts and goes after people that make over $250.000 and with the new proposition in California that taxes people that make over $250.000 a year most are at a effective rate of 72% for taxes...
I know a guy that owns a heating and air company. Has 15 people working for him but often puts in 16 hour days to keep costs down. His profits last year were about $270.000. Under the new tax laws his take home would be about $75.000 a year. He just told me. A whole bunch of stuff but honestly some well paid professionals are going to be out of work.
Now, now, don't you mean he has a five or six $MILLION$ business (gotta spend lots of dough to make a buck but you don't pay taxes on expenses) and paying taxes on his (5% profits if he not cheating his customers too much)profits after expenses?