Quote:
Originally Posted by ORD_Buckeye
The 4x likely to make a 100K sounds reasonable to me but to extrapolate it upwards without statistical corroboration, I'm not buying. In fact, I would disagree with the notion that ratio continues upward. My hunch is that at the 250K and up levels, the recipients drastically shift towards large firm lawyers, top management of large corporations, top earners in finance and banking and consulting. As one continues up the income ladder towards 7 figures, I see the ratio skewing more and more drastically away from small business owners.
My personal experience is that 90% of the people that I know in those brackets work for large corporations or blue chip law/consulting/advertising/architecture firms. The ones who run their own companies fall into two catagories: either those companies have long ceased to be what most would consider "small businesses" or they operate very small, niche high margin companies.
Medical professionals I would consider to be a sector in and of themselves.
That's my hunch. I'd like to see some raw data to prove or disprove our respective opinions.
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Nope - single biggest factor contributing to someone being a millionaire is owning their own business.
http://finance.yahoo.com/banking-bud...#39;t-Tell-You
See #3 - half of all millionaires made their money by running their own business. So as I predicted, it seems the higher your wealth, the more likely you are to have gotten there by running your own business. (The truly "rich" are that 3% who get their money inherited through trusts and the like, but as mentioned they will never pay taxes in our current system.)
So it seems like the left is left with the "inconvenient truth" that their taxes on 250k and above will directly lead to job destruction, as small business are responsible for most of the job growth in this country, especially right now as is shown by the following article.
Small Business Job Growth Remains Strong ? The StartUp Blog at PartnerUp
So the SINGLE engine that is driving job creation right now is the one that Obama wants to tax even heavier than their already crushing burden.
Sounds like great idea.......