I think its worth comparing the current income tax rates and the proposed tax rate. This would actually increase taxes on small businesses in the first and much of the second bracket - while giving a massive tax cut to the higher brackets who don't need it.
0-13K 7%
13K-50k 12%
50K-130K 23%
130K-210K 29%
210K-413K 34%
413K-441K 36%
441K+ 40.6%
0-50k: 10%
50k-125k : 15%
125k-250k : 20%
250k-500k : 25%
500k+ : 32.5%
It's a good point. While it may be negotiable for the middle tax brackets, I'd like to keep low-income taxpayers' rates low and keep that highest bracket where it is. I'm not saying there's no room for improvement in the tax code, but we need to rethink these numbers.
