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"As income taxes increase on very productive people and small businesses, they will be less willing to hire or keep employees. The top tax rate on business owners who pay taxes as individuals, as opposed to corporations, is now 35 percent. It is already scheduled to rise to 39.6 percent on January 1, 2011, and under the House bill it would rise even higher, to 45 percent on taxable income of $500,000 for singles, $1 million for couples. With state taxes, some combined rates could exceed 55 percent."
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