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**lierro** · 09-27-2010, 07:23 PM

Yes, indeed. From the Washington Post:

Republicans oppose President Obama's plan to raise taxes on the nation's wealthiest households because, they say, many small businesses - a major engine of job growth - would be slapped with a tax hike.

"The top 2 or 3 percent" of all small businesses would see their taxes go up under the Obama plan, Sen. Orrin Hatch (R-Utah) fumed this week. "That's 750,000 to 800,000 small businesses! That create most of the jobs in our society!"

The thing is, some of those businesses are not particularly small. In fact, they're quite large.

Among the firms Republicans want to protect from new taxes, according to research by House Democrats: The management team at Wall Street buyout firm Kohlberg, Kravis and Roberts (KKR), which recently reported more than $54 billion in assets managed by 14 offices around the world. Auditing firm PricewaterhouseCoopers, a household name with operations in more than 150 countries. And the Tribune Corp., which owns the Chicago Tribune, the Los Angeles Times and the Baltimore Sun.

KKR, PricewaterhouseCoopers and the Tribune, it turns out, are organized as "pass-through" entities - companies that typically avoid corporate taxes by reporting profits on the individual tax returns of their owners, managers or shareholders.

...

(D-Md.), a member of House leadership who heads the committee charged with electing House Democrats: "Republicans are trying to disguise this issue as a small business issue when the facts tell a different story. Among the major beneficiaries are hedge funds, billion-dollar private equity funds, major Washington lobbying firms and other million-dollar special interests."

09-27-2010, 07:23 PM	#3
lierro Join Date Oct 2005 Posts 469 Senior Member	Yes, indeed. From the Washington Post: Republicans oppose President Obama's plan to raise taxes on the nation's wealthiest households because, they say, many small businesses - a major engine of job growth - would be slapped with a tax hike. "The top 2 or 3 percent" of all small businesses would see their taxes go up under the Obama plan, Sen. Orrin Hatch (R-Utah) fumed this week. "That's 750,000 to 800,000 small businesses! That create most of the jobs in our society!" The thing is, some of those businesses are not particularly small. In fact, they're quite large. Among the firms Republicans want to protect from new taxes, according to research by House Democrats: The management team at Wall Street buyout firm Kohlberg, Kravis and Roberts (KKR), which recently reported more than $54 billion in assets managed by 14 offices around the world. Auditing firm PricewaterhouseCoopers, a household name with operations in more than 150 countries. And the Tribune Corp., which owns the Chicago Tribune, the Los Angeles Times and the Baltimore Sun. KKR, PricewaterhouseCoopers and the Tribune, it turns out, are organized as "pass-through" entities - companies that typically avoid corporate taxes by reporting profits on the individual tax returns of their owners, managers or shareholders. ... (D-Md.), a member of House leadership who heads the committee charged with electing House Democrats: "Republicans are trying to disguise this issue as a small business issue when the facts tell a different story. Among the major beneficiaries are hedge funds, billion-dollar private equity funds, major Washington lobbying firms and other million-dollar special interests."
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