Let's see how he defines this.  What does he mean by "earnings"?  Business revenue, net income to the business, the owner's personal income?  If you take an income of $149 999, while leaving the rest in the company how will you be taxed?  If your company "earns" $150 ooo should you then take the entire amount as income and leave no retained earnings for growth?  This is so vague and poorly thought through.  A clear reaction to peoples' disgust over the legislation.  I am going to encourage my student children to become accountants.  Enough work for a lifetime!