Wednesday, August 12, 2009
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During this time of high unemployment and need for job creation, it is critically important that small businesses not be burdened with additional employment costs. Indeed, may small businesses are struggling to remain open.
The fact that 90 percent of all jobs come from small business has apparently escaped the attention of our federal government. Eliminating Section 179 of the IRS code (which allows immediate depreciation of new equipment and encourages reinvestment in one's business), raising the minimum wage, and proposing a new 8 percent tax on small businesses to pay for a federally-mandated health care plan will only add to our nation's unemployment statistics.
If our federal government is really interested in stimulating the economy and helping the people of this nation recover from these most challenging times, it might start by passing legislation that is actually small-business-friendly and encourages job creation. There is, after all, a breaking point, unique for each small business. Once reached, that business, and those jobs, are gone forever.
Wayne E. Kerr, DDS