{"id":885,"date":"2010-01-21T10:56:53","date_gmt":"2010-01-21T15:56:53","guid":{"rendered":"http:\/\/www.phyrfight.com\/weblog\/?p=885"},"modified":"2010-01-21T10:56:53","modified_gmt":"2010-01-21T15:56:53","slug":"taxing-the-millionaires","status":"publish","type":"post","link":"https:\/\/www.phyrfight.com\/weblog\/?p=885","title":{"rendered":"Taxing the Millionaires"},"content":{"rendered":"<blockquote><p>From: <a href=\"http:\/\/reason.com\/archives\/2010\/01\/13\/who-wants-to-tax-a-millionaire\" target=\"_blank\">Reason<\/a><\/p>\n<p>And many people classified as millionaires aren\u00e2\u20ac\u2122t millionaires at all. Out of the 300,000 or so joint tax filers earning more than $1 million, about 90 percent have small business income. That\u00e2\u20ac\u2122s because 75 percent of America\u00e2\u20ac\u2122s small businesses are structured as pass-through entities and pay their business taxes at the individual level. So the $1 million isn\u00e2\u20ac\u2122t going into those individuals\u00e2\u20ac\u2122 pockets; it\u00e2\u20ac\u2122s money they use to run their businesses. To avoid the new tax, those businesses would have to adopt a new structure and start paying the complicated corporate income tax.<\/p><\/blockquote>\n<p><a href=\"http:\/\/reason.com\/archives\/2010\/01\/13\/who-wants-to-tax-a-millionaire\" target=\"_blank\">More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From: Reason And many people classified as millionaires aren\u00e2\u20ac\u2122t millionaires at all. Out of the 300,000 or so joint tax filers earning more than $1 million, about 90 percent have small business income. That\u00e2\u20ac\u2122s because 75 percent of America\u00e2\u20ac\u2122s small businesses are structured as pass-through entities and pay their business taxes at the individual level. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,9,8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=\/wp\/v2\/posts\/885"}],"collection":[{"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=885"}],"version-history":[{"count":2,"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=\/wp\/v2\/posts\/885\/revisions"}],"predecessor-version":[{"id":887,"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=\/wp\/v2\/posts\/885\/revisions\/887"}],"wp:attachment":[{"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phyrfight.com\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}