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Wednesday, July 18, 2012

Study Says Raising Tax Rates Would Harm Small Businesses


“Should Congress allow the tax rates for the nation’s highest earners to expire at the end of the year, millions of small businesses could be forced to cut jobs and wages, placing an enormous strain on the already sluggish economic recovery, according to a new study. . . . Commissioned by a host of pro-business advocacy groups, Ernst & Young conducted this latest study in an effort to predict the long-term economic impact of letting the top rates increase at year’s end — and the findings stand in stark contrast to the repeated assurances from Democrats that their proposal would have minimal effect on small business owners.” (Washington Post)

Raising taxes is never a good idea.

FEE Timely Classic
“Taxation as Vandalism” by Lachlan Markay