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Anniston Star
Jul 28, 2012 | 1095 views |
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Mitt Romney continues to repeat the GOP refrain: You can’t raise taxes on job creators; if you do, they won’t hire people. This argument is flawed. Businesses adjust labor requirements based on demands for products and services. Totally eliminating taxes won’t cause businesses to hire a single person unless demands exist.
Large increases in taxes that significantly change a business’ risk-reward equation may influence future hiring, but an increase in the top rate from 35 percent to 39.6 percent will only affect the top 3 percent of small businesses that make over $250,000 annually. This will not have a measurable effect on overall employment numbers.
Lemuel W. Davis
Jacksonville
