12/01/10 — A small step: Keeping Bush tax cuts is first step to job-full recovery

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A small step: Keeping Bush tax cuts is first step to job-full recovery

It is an easy sale really -- raise the tax rates on the wealthiest Americans, that is the way to take a bite out of the deficit.

So that is the argument Democrats and others are using as they prepare to discuss, again, what to do about taxes in the new year.

A compromise seemed to be reached yesterday that would allow the Bush tax cuts to stand for all income levels.

There was the required whining from those who want to see a tax increase -- and more class warfare from those who think the way to save the economy for the middle class is to take money away from everybody else.

But here is what you need to remember as you wonder what is next in the great jobs vs. taxes vs. economic futures debate.

Small business owners, who create most of the jobs in this new economy, are the "wealthy" who will be hit the hardest by messing with the tax code.

And if small businesses face higher taxes, they are going to have to look somewhere for the cuts necessary to keep their budgets in the black.

Want to guess how many jobs will be created if a business's tax bill shoots through the roof?

There are plenty of reasons to be thinking about budgets in Washington -- and plenty of places to look to save money.

But if we are serious about getting the economy healthier and putting people back to work, we have to make sure that those who can make that happen have the funds to do so.

Encouraging businesses to invest in this country and its work force only makes sense. And it is an option we need to try as quickly as possible.

Published in Editorials on December 1, 2010 10:47 AM