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Thursday, February 26, 2009

Compromise Suggestion on Taxes

Keith R. Schmitz

Many GOP critics accuse the Democrats of taking the African-American vote for granted. 

I think the same is true the other way around when it comes to small business. The GOP IS the party of big business, and if they were sincere about small business they would advocate better anti-trust enforcement, serious solutions to healthcare and administration of the Small Business Administration to help small business. 

A good example is the GOP's willingness to let the Big Three automakers go into bankruptcy, delivering collateral hits to their small business suppliers. As a small business, the GOP certainly does not speak for me.

As usual they are holding small business hostage when it comes to our economic turnaround. The point being made is that if taxes are increased on those making over $250,000 year would be a hit to small businesses. 

My good friend on the right Mike Frederick pointed out in the NY Times last week that he would have less money to plow back into the business if his taxes are raised. Though I dispute that only a minority of small business people are any where near $250M per year, point taken.

Actually the solution could be rather simple. Why not design a credit for someone who owns a small business based on their number of employees. As usual, some will find ways to fake their way around it, but audits could extract the fakers.

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