Forum: Lower taxes on small businesses
December 2, 2012 3:08PM
Updated: January 4, 2013 6:13AM
U.S. tax rates are among the highest in the world. The federal government is among the world’s largest employers and also has an out-of-control budget deficit and national debt. Unemployment is too high, and the economy is in a prolonged period of slow growth.
Using the KISS (keep it simple, stupid) model, let’s assume helping small business helps employment and the U.S. economy. Both parties have said this. To help small businesses employ people, would it not make sense to lower their tax burden at least?
That would allow small businesses to employ more people who would pay more taxes. Perhaps then it would make sense to cut back on federal spending and employees to help cut the budget deficit and pay back some debt.