Photography is a tough market. A lot of people who want to get into it really aren't aware of how tough it is - especially right now as the economy is dipping and people aren't paying for luxury items like professional photographs.
Also as a photographer - especially if you're a portrait or wedding photographer - you have to compete with the Walmart and Sears and PicturePeople type companies that offer hundreds of prints for $29.99 and can do so because their overhead is offset by the rest of the store's income.
Aside from that, what a lot of people don't realize is that when you own your own business, you're responsible for ALL the stuff that your employer normally pays for. The 7% of social security that an employer normally contributes? You gotta pony up for that. Medicare which the employer normally pays? You gotta pay that, too. Plus business taxes, licenses and fees, property taxes on your business insurance, health insurance, equipment insurance, etc., etc.
After expenses, I pay 42% of my income in taxes. Seriously. That means for every $1000 I bill to a client, I take out 30% direct costs and overhead ($300), 42% of what's left I pay in taxes ($294), and I get to keep $494.
Just ... a dose of reality here. I've been a photog for a loooooong time. It's a lot more than taking photos.
.