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Wednesday, July 15, 2009

Fools and jackasses.

1 comment:

derekp said...

Under the Senate plan a small business is defined as less than 25 employees. Can anyone guess the maximum number of employees firms will hire in order to avoid the surtax?

The house plan defines a small business as having a total payroll of less than $250,000. This amounts to a law firm with two moderately successful attorneys and a handful of support staff. This hypothetical law firm will surely break into two pieces. Each attorney will keep two employees and the fifth will be heading to the unemployment office. Nobody will get health insurance, the government does not collect the surtax and government revenue decreases. What a great plan!

This idea reminds me of the luxury tax and yacht sales of the past.