Spookyboo, what's to say you're guaranteed all that money anyway by staying? It doesn't sound like your boss is in much of a position to keep his company going...
Also, being married to an AH, I find it quite a bit easier to walk away from a boss than a marriage, so yes, the advice to leave in this case DOES seem sound.
At the very least, you can start looking for another job asap. Or have you considered legal action against him? I'm not sure if you're in the U.S. or not, but that kind of behavior sounds illegal.
Again, being married to an AH, I feel like leaving a toxic work environment would be worlds easier, unless there are mitigating factors that we don't know about.