Are Small Business Owners Wealthy Fat Cats?

For years I have friends and others tell me that the majority of people who would be affected by a tax on the rich are small business owners. In response to Stephen Hayes comments (of a similar nature) on "This Week", the ABC Sunday morning news show, Politifact said:

It's certainly more politically palatable to urge lower taxes for mom-and-pop business owners than for Wall Street fat cats. But is it true that most of the rich are small business owners?
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It's impossible to know how many of these high earners are what most people think of as small business owners. One indication, however, might be if these wealthy taxpayers reported that most of their income was from this business-type income. The nonpartisan Tax Policy Center analyzed IRS data in March 2009, looking to see how many wealthy tax filers could say that half of their income or more came from business income. The center found that, among the wealthiest filers -- the top 1 percent -- only 25 percent earned more than half their income from business-type income. The percentages for non-wage income were even smaller among taxpayers earning less.
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There's one final point we want to clarify here for our readers, because we've been asked about this before: If you are a small business owner yourself, you would have to be a whiz running a very profitable small business to get hit with a tax increase under the plan Obama supports. You would have to report total income of more than $200,000 (or $250,000 for couples) after all your business expenses were deducted. You may remember this being a key point during the Joe the Plumber debate during the 2008 campaign when Samuel Joseph Wurzelbacher said to then candidate Obama, "I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year. Your new tax plan's going to tax me more, isn't it?" Back then, the Tax Policy Center analyzed all taxpayers, of any income level, who report these types of business income. They found only about 2 percent of them would see tax increases if the government increased the rates on the top earners. So the vast majority of possible small business owners would not see a tax increase if the Bush tax cuts expire for those in the top incomes.

I think that there is a concerted effort to categorize wealthy fat cats as the small business owners who provide jobs for people. Not sure that I agree. I am thankful for the small business owners that I personally know. Most of them do not drive expensive cars or live lavish lifestyles. So I guess I agree with Politifact and don't buy the idea that the richest folks in our country are small business owners.

What do you think? The whole taxing philosophy aside, do you know small business owners that would be considered a a part of the elite wealthy in our country? Politifact seems to think that it is a mixed bag at best.