Wednesday, November 21, 2012

Fiscal Cliff Letter: Small Business Owners Urge End Of Bush Tax Cuts

Zach Carter
Posted: 11/20/2012

More than 600 small business owners and executives wrote a letter to every member of Congress urging them to end the Bush-era tax cuts for the wealthy under any deal brokered to avert the so-called "fiscal cliff."

"As businesses owners, none of us hire more employees simply because someone gives us a tax cut. We hire more employees when our customers demand more of what we have to sell," the letter reads. "When a teacher, firefighter, or construction worker building public infrastructure loses his or her job, many of us also lose a customer."
The letter also emphasizes that the Bush tax cuts for the wealthy do not generally aid small businesses, and suggests that the money could be better spent on infrastructure projects, education, or other efforts to strengthen the economy.

"Those who claim that tax cuts help small businesses are guilty of identity theft," the letter continues. "Less than 3 percent of tax filers with any business income make over $200,000 (individuals) or $250,000 (couples) per year, and many of those are not small business owners, much less small business owners with employees. They include K Street lobbyists, Wall Street investment partners, big business CEOs paid to sit on the boards of other big corporations, and wealthy people renting out their vacation homes."


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