Small Business Owners Talk about Tax Policies and the Economy
In an article that appeared at Forbes.com, small business owners with businesses that netted $250,000 and below last year were interviewed to get their views on the economy and tax policies. Chad Archibeck of CWA Enterprises and Edward Sullivan G2Link LLC whose businesses are product-oriented say their companies are doing well. Rajendra Hariprashad of Ace Tax Services whose business is service-based, however, says otherwise. When it comes to taxes, the business owners say they are hit not only federally but also at the state and local levels. They lament the fact that not all Americans pay their fair share of taxes, stressing the inequity in the tax system. They likewise gave their opinions on raising taxes and the spending problem. They consider tax reforms as one of the main factors in the November elections.
The small business owners who are featured in this story are Chad Archibeck, of CWA Enterprises, responsible for Re-StringIt); Rajendra Hariprashad of Ace Tax Services in Hollis, New York; Robert Livingstone, President/Founder of IdealCost.com in Weston, Florida; Nickie Robinson, of Good Girl PR LLC & PR PRO LLC, a New York City based public relations firm; and Edward Sullivan, CEO of G2Link LLC in Drexel Hill, Pennsylvania.
Archibeck, whose business is product-oriented, says that he’s doing well as does Sullivan.
Hariprashad was quick to point out that it’s not just federal taxes that hit business owners like him: there’s a hit at the state and local levels, too.
Like the business owners in the prior piece, most who responded in this round believe that not all of their fellow Americans are paying their fair share. Others cited statistics indicating that nearly half of Americans pay no tax as proof that there is inequity in the system.
Our small business owners did tend to support the extension of the Bush tax cuts with Hariprashad being the exception; he prefers the focus be on using funds “to create jobs, rebuild the roads and infrastructures.” Robinson, however, says that raising taxes is not going to solve our problems, citing a concern about mismanagement of existing stimulus efforts.
Livingstone says the problem is that “we don’t have a tax collection problem, but rather a spending problem” and touted Ron Paul’s plan to significantly reduce spending as a potential solution.
Of course, tax reform is on almost everyone’s mind as a crucial element in the election. Archibeck is emphatic that reform is necessary, saying, “(t)here should be better programs for inventors, better tax breaks, incentives to the creative and improve the way things are currently done.” Simplifying the system is high on most small business owners’ wish lists but most tend to believe that’s not going to happen with Livingstone saying that he doesn’t “believe we’ll see any meaningful proposals or initiatives when it comes to tax reform.” …
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