Republicans are touting that 47% of Americans paid no income tax last year. They are slurring them as slackers or people who are gaming the system. That is bogus for many reasons , but there is one part of that 47% that seems to be ignored.
What percentage of that 47% are SOLE PROPRIETORS?
small business, micro businesses who file taxes as individuals, with a 1040 and a schedule C?
My income last year was 10 PER CENT of what it was 3 years ago. this year it will be 5%. i am scrimping along, living on rapidly depleting savings and desperately trying to adapt and bring in income. That drastic reduction in my already modest but steady income is called a LOSS, and it sure put me below the lowest tax bracket. In case you are wondering, this is not a fine place to be, as most of my expenses still exist .I also do not qualify for unemployment. not one week .
What happened? My customer base evaporated. Rather, the base is still there, they just are not spending.When people don't have jobs, disposable income or confidence in the economy , they put off projects, or go with smaller purchases. Work and income for every craftsman and tradesman I know tanked, so i know i am not alone.
If sole proprietors and the self employed are part of that 47%, (and why wouldn't we be, we file as individuals), then the Republicans are smearing part of the very 'job creating' base they claim to support.
Their own jobs plan is a farce to begin with, but this just adds another layer of insult and injury upon the backs of all of us, as well as another hole in their argument.