What is a small business? The term has been tossed around by the GOP candidates at every chance they get. It sounds like something we would all be in favor of; you know "Mom and Pop" candy stores and suburban landscapers hiring a half dozen workers to cut your lawn, and other such occupations. But what is the definition of a small business. In the Vice President debate in October of 2012, Joe Biden said a small business could be someone making $ 1 million a year. He also said that 90 % of small businesses make no more than $ 250,000 a year; that is an amount below which Barack Obama would not increase taxes on (or so he says). I had a house guest recently who-before he retired-worked for a small business as one of the partners. He said a small business-in this case his own-could make up to $ 50 million and employ over 50 people.
More research will be needed on this question.
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