What About the Selling Small Business Owner?
Reader comment on: Buffett's Latest
Submitted by Russell Fuhrman (United States), Nov 26, 2012 11:35
I really don't understand why Mr. Buffett and the other usual suspects always pushing for higher income taxes just for a moment give some consideration to the small business owner who, the year he sells, a once in a lifetime event, gets hit with the proceeds being taxed at income tax rates. Remember that family must somehow annuitize the sale proceeds to finance their retirement as they have no pension. It is one thing to propose increasing taxes on re-occuring annual high incomes on the Park Avenue tycoon, quite another on putting the selling restaurant, funeral home owner, etc. in that category.
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