Do you remember The Little Engine That Could?
He was just a small engine that was able to pull an entire line of cars up a steep grade and down the other side. As the little engine chanted, “I think I can, I think I can” the entire way up, he was able to complete his task.
In many ways, America’s little engines are its small businesses. They hire, invest, grow and move America through its ebbs and flows.
As these little engines, with the rest of America, sit in a deep-pitted recession, they aren’t able to chug their way out due to being derailed by taxes, regulations and an uncertain future.
Lately Obama has been encouraging special tax cuts for small businesses, yet at the same time encouraging a higher tax rate for the wealthy and on capital gains and dividends. These components all feed off each other. Small business owners invest and often have a higher income level. You can’t offer them tax breaks while threatening to raise taxes and expect good results.
“It doesn’t take someone with a Ph.D. in economics to understand that if you raise taxes on the wealthy and tax capital gains and dividends at a higher rate, then you are going to crush the economy you are trying to build,” says Bill Wilson, president of Americans