If President Obama really wants to help small businesses, he won’t tax away their viability. His attempt finally recognizes that small businesses will play a vital role in our economic recovery. Unfortunately, his policies have been entirely counterproductive. This aid package makes for a nice media opportunity, but it does not make up for the fact that the President is putting the largest tax hike in American history on the backs of small businesses across the country. Raising taxes on small businesses will only lead to more lost jobs. That is the last thing we need during these tough economic times. These big-government plans restrict economic freedom and tax away any opportunities for recovery. We must put economic power back in the hands of American individuals and businesses. We can immediately clear the way for economic growth by cutting taxes and letting businesses invest more of their own money. The road to economic recovery is paved with a healthy small business community that requires greater access to its own capital.
The RSC has offered a substantially different agenda to boost small business and the economy through the Economic Recovery and Middle-Class Tax Relief Act.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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