Tax Hikes Aimed at the Rich Hit Everyone ; Small-Business Owners Aren't Wealthy - They're Just Taxed As If They Are

Summary

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It is time to set the record straight. Small-business employers and their employees face a looming crisis come Jan. 1. That is when hefty tax increases will take effect if Congress does not act to reinstate the 2001 and 2003 tax rates. Worse, there is a misperception among policymakers and the general public that increases to the top-tier rates will only be a tax on the rich.

Our company, Power Curbers Inc., is a manufacturer that makes and sells concrete paving equipment. We were founded in 1953 and are still a family-owned company that grosses more than $20 million per year and employs more than 130 workers at our facilities in Salisbury, N.C., and Cedar Falls, Iowa. Like many other manufacturers, we have struggled through this crippling recession by making difficult pay, time and expense cuts - cutting anything and everything we can just to stay above water. We are doing better than we were a year ago, but we are still struggling. We face a great deal of uncertainty ahead, and much of it comes from the policies being created in Washington - especially the tax increases.

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Tax Hikes Aimed at the Rich Hit Everyone ; Small-Business Owners Aren't Wealthy - They're Just Taxed As If They Are

Back in 2001 and 2003, when Congress initially passed legislation lowering tax rates across the board, the economy was struggling, much like today, and manufacturi...

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