IMHO - all these people claiming they won't start a business because Obama was re-elected are short sighted, and apparently, very unaware of the tax code.

Just saying, if you're paying that 56% tax rate on more than a nominal amount, get a new accountant.

If you set up your companies as S-Corp or LLC's, you must pay yourself a nominal salary. Sure, that is subject to Payroll, State and Federal Tax.

The remaining income is passed through to you and taxed at the dividend rate of 15%. Didn't anyone read any of the articles explaining Mitt's taxes?