Small Businesses and the Estate Tax
of free enterprise on which our country was built. According to the editorial, the facts often do not support the claim that President Obama's proposed changes to the estate tax would hurt small businesses.
Nearly 60 percent of small-business owners do not believe that Mr. Obama's administration understands what they need. According to a survey conducted last month by City Business Journals Network, 40 percent of small- business owners are less optimistic about the economy than they were when the president took office.
Raising taxes on small businesses is a bad plan; it is reckless and threatens to make a bad economy worse. Data from the National Federation of Independent Business affirm that as many as 9 percent of businesses will be hit by increased taxes. Most important, these businesses are the job creators for our nation, generating approximately seven of every 10 new jobs in America. Tax hikes will therefore kill any chance for job growth. The president likes to refer to small businesses as the backbone of the American economy. He should throw them a bone instead of fetching them a higher tax bill.
Small-business owners, do not be led astray: Plan for Mr. Obama's tax changes to take a bigger bite of your revenue and put you in the doghouse.
