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Message: Re: Driving and Oxycontin don’t mix.
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Nov 30, 2010 02:15PM

The lack of integrity from the left on this topic is astounding

Once again you have nothing to back this up. The GOP had to fudge the figures to include people like Paul Krugman and Obama as small businesses.*

what they’re calling small business income — is defined as

income from sole proprietorships (Schedule C); income from rental real estate, royalties, partnerships, subchapter S corporations, estates and trusts, and real estate mortgage investment conduits (Schedule E); and farm income (Schedule F), as would be reported on lines 12, 17, and 18 of the 2010 Form 1040.

What this means is that my book royalties (and Obama’s) are counted as part of what the GOP calls small business income; so is the income of partners in medical groups and law firms, much of the income of hedge fund managers, and so on.

*Just in case you need to study up sole props and LLCs are not S corps


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