[Flames Fan, Ph.D.]

Originally Posted by opendoor

That was the cut in 2001, so when it expires it returns to its previous level:

http://en.wikipedia.org/wiki/Economi...on_Act_of_2001

sorry, i was unclear

I was questioning the "this is also the rate at which two-thirds of small business profits are taxed" part of the post.

Edit: No reason to play coy. The impaler's conjecture is demonstrably false, but I was just curious about the source.

Anyways, here is the table:

http://www.taxpolicycenter.org/numbe...83&DocTypeID=7

Note that this captures Schedule C (for self-employment or sole proprietorships), Schedule E (for S corporations) and schedule F (for farms). Only about 2% of all of these are impacted in a situation where the tax cuts for the highest bracket are rescinded.