Would expiration of tax cuts really hurt small businesses?

09/20/2010 | New York Times (tiered subscription model), The

Debate continues over whether to extend the Bush-era tax cuts for the top 2% of wage earners. President Barack Obama's plan to let the tax cuts expire for the wealthiest Americans has drawn fire from business groups, which say the tax increases would hurt small businesses and hinder job growth. "Those are the businesses that employ a quarter of the workforce and the ones that are most likely to be hiring," said NFIB Tax Counsel Bill Rys. "A tax increase means that's less money that those businesses have to spend on growing their business and more money that they're sending to Washington."

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