Wednesday, July 25, 2012

The Small Business Tax Canard

Higher taxes on the rich does little harm to small businesses.  Here's a short list of what higher taxes really do:
1. Only 2.5 percent of small businesses will be affected by dropping the Bush tax cuts.
2. There's no historical evidence that lower tax rates for rich people help small business.
3. Lower tax rates have little to do with small business hiring.  Demand is what drives hiring.
4. The real job creators are young firms, not small firms.  It's just a coincidence that young firms tend to be also small.

Lowering taxes for the rich just makes buying Congress and elections more affordable for them.

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