Small-business groups aren't happy about Obama's tax-reform plans

02/23/2012 | Bloomberg Businessweek · Wall Street Journal, The

President Barack Obama's plan to lower the corporate tax rate to 28% won't alleviate the tax burden for most small businesses, which often channel their earnings through their owners' personal returns. Furthermore, small businesses could be negatively affected by Obama's plan to eliminate deductions. "Although the proposal does include some positive language for small-business tax credits, [the National Small Business Association] believes firmly that the only way to ensure fairness, transparency and eased complexity of the U.S. tax code is broad reform," said NSBA's Todd McCracken.

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Bloomberg Businessweek · Wall Street Journal, The

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