Paul Ryan: “Two-thirds of all those who file their taxes in the top bracket are people who report small business income, subchapter…”

“Two-thirds of all those who file their taxes in the top bracket are people who report small business income, subchapter S corporations, limited liability corporations. Seventy-five percent of all those in this new tax bracket covered in this bill are those who report small business income. Small businesses do not pay taxes as corporations; they pay taxes as people. So we are not talking about tax increases on millionaires who are hanging out on yachts. We are talking about tax increases on people who are running businesses. They have 25 employees, they have 50 employees, they have 100 employees, they have two employees, they have five employees. The point is, these small businesses, the engine of economic growth, the job creator of this economy, pay their taxes on the individual rate; and these are the people whose taxes are being increased under this proposal.”