‘Taxing the rich’ will hurt small businesses

Published 11:34 pm Saturday, December 11, 2010

Mr. Jim Crawford’s article, “Stimulus for those who don’t need it,” misses the point once again.

It is the small businesses that would be hit with the major amount of taxes collected.

Here’s an example that would affect many small businesses in Ironton that are locally owned stores.

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Many businesses are locally owned by a single person, hence the amount of business that they do is much more than $250,000 annually. So they are part of the “rich” that Mr. Crawford is talking about.

This doesn’t take into consideration the amount of employees that they pay, nor their other expenses that they incur.

They are part of the rich that should pay more taxes so more people can go home after they lose their jobs because they can no longer be afforded.

The person who owns the business is responsible for the gross amount of income.

This used to be a country that rewarded the hard-working people.

Now, it is a shame that businesses cannot make a profit because they should “share the wealth” with those who never worked, nor will ever work as long as the Democrats keep rewarding them with “stay-at-home checks”so they will vote for them and keep them in power.

America is rapidly approaching the time that all will be cut, but they will start with the “senior citizens” first then with the others.

We cannot sustain the continuing debt that we are having added to the deficit and remain a country.

Just look at the countries overseas that tried and are failing: Greece, France and England, just to name a few.

And look at what is happening there now.

Be ready for the same here in America when we can no longer buy a day’s groceries for what we use to spend for a week’s supply.

Inflation is just around the corner. When it hits and milk is more than $10 a gallon and bread is more than $5, what will you use?

Yes, it is easy to print money. But history has shown what happens when money is devalued to the point that it is worthless.

Homer Campbell

Ironton