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Hooray for America's small businesses.

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Jakes Progress Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 05:45 PM
Original message
Hooray for America's small businesses.
The guys in this story aren't begging for tax breaks or special consideration or cutting the social safety net. They just ask for a fair playing field.

http://www.huffingtonpost.com/2011/07/27/small-businesses-debt-deal-deficit-limit_n_911181.html

They are asking for an end to the tax cheating that huge corporations do with the help and support of the republican party.

On Wednesday, Rep. Lloyd Doggett (D-Texas) and 43 other House Democrats introduced the Stop Tax Haven Abuse Act, a companion to legislation Sen. Carl Levin (D-Mich.) unveiled earlier in July. The bill targets tax dodging by both corporations and wealthy individuals, who can also stash money in secretive offshore bank accounts and even set up their own foreign corporations to avoid paying U.S. taxes. Doggett and Levin say their bill could generate $100 billion a year in revenue that is currently just sitting in corporate coffers abroad.

The legislation has the strong support of several small business groups.

"It's outrageous that companies can take advantage of our country's legal, social and economic infrastructure, yet they do whatever they can to avoid paying their fair tax rate to support it," says Jody Gorran, Chairman of the New Jersey-based Aquatherm Industries, a company that makes solar-powered heating for swimming pools. "It would bring in $100 billion a year. That's $1 trillion over the 10-year window. Go for it, for God's sake."


If we can get the president and more Democrats behind this, we can generate some support from the real "job creators".
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Crazy Dave Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 05:47 PM
Response to Original message
1. The biggest enemy of big business is small business n/t
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yourout Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 05:52 PM
Response to Reply #1
2. and vise versa.
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Crazy Dave Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 06:02 PM
Response to Reply #2
3. Ask my neighbor across the street
He owns a restaurant and wants to expand and hire more staff but the bank will not lend him enough money to do so. He said the inside story for many mom and pop restaurants is the chain restaurants are "Walmarting" them through banks and food wholesalers. The big restaurant chains are ganging up and threatening banks, food and equipment suppliers that they will take their business elsewhere if they deal with small restaurants who steal business from them. He said his food and supplies have gone up over 20% these past two years but he can't raise his prices or he will go out of business, he needs more cash flow because the current capacity barely pays the bills and he stated that he may well be out of business before the end of this year if his profit margins keep shrinking due to the limited seating capacity he currently has and the wholesale prices still on the rise.
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krispos42 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 06:05 PM
Response to Reply #3
4. Oh, I'm sure a "job-creating rich person" will help him...
...by buying his restraunt at a fire-sale price after it goes bankrupt, then fires and re-hires your friend as the night manager... 31.5 hours per week, of course, and here's an application for Medicaid insurance.


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applegrove Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 06:55 PM
Response to Reply #1
6. When deregulation takes place in an industry all the mid sized corporation dissappear.
What is left are tiny companies and mega corporations. Look at any industry that has been deregulated and it is so. The big guys have economies of scale and don't really have to worry about small business..until elections. So they keep them close.
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ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 06:10 PM
Response to Original message
5. Take another look at our "social and economic infrastructure"
It was there before the Bush Tax Cuts.
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