Today, the Small Business & Entrepreneurship Council (SBE Council) reacted to the final presidential debate between Democrat Barack Obama and Republican John McCain held at Hofstra University on October 15.
SBE Council President & CEO Karen Kerrigan said: "We were very pleased to hear small business discussed so much during the debate. However, we were very disappointed that Senator Obama still stands willing to hike personal income and capital gains taxes on so many entrepreneurs, like Joe the plumber, and investors. Senator Obama presented the idea that it somehow makes sense to increase taxes on some small businesses, while offering sometimes rather vague tax cuts for other small businesses."
Kerrigan continued: "What entrepreneurs and our economy need right now is across-the-board tax relief. Senator McCain was correct in pointing out that we should not be raising taxes on anyone, especially now. He also was correct to highlight how non-competitive our corporate tax is, and that it needs to be reduced. If we are serious about getting this economy moving again, then we need to make the U.S. an attractive place to invest and set up business."
SBE Council chief economist Raymond J. Keating said: "International trade is critical to our economy. Keep in mind that total trade - that is, exports plus imports - equaled eight percent of GDP in 1960. Last year, it stood at 29 percent. Knocking down international trade barriers means expanded opportunity for U.S. businesses, enhanced economic growth, higher incomes and greater choices for consumers."
Keating added: "Listening to the debate and looking at their voting records, it is clear that Senator McCain is a free trader. However, Senator Obama raises real concerns, such as with his vote against CAFTA, his desire to re-work NAFTA, and his opposition to pending trade deals with Colombia, Panama and South Korea. He did nothing during the debate to indicate that he has seen the light on free trade."
The SBE Council is a nonpartisan, nonprofit small business advocacy group that works to protect small business and promote entrepreneurship. For more information, please visit: www.sbecouncil.org.
1 comment:
it's kindof sad that McCain and Palin have lowered people's standards so far that, when they finally manage to put whole sentences together during their debates suddenly they either "tie" or "are really making strides in their campaign" Between the two of them, they've got the pity vote locked away for sure. As for their actual competancy....
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