In the News

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The Hill: Business groups come out against corporate tax holiday

By Brian Becker
The Hill, June 14, 2011 

A business group that has taken some positions popular among liberals has come out against a corporate tax holiday for offshore profits, saying U.S. multinationals already have too much incentive to ship jobs abroad.

Business for Shared Prosperity and a coalition of other groups, some of them representing small businesses, also called a previous holiday — which allowed corporations to bring profits into the U.S. at a drastically reduced tax rate — a failure.

Letter to Congress: No Tax Holiday for U.S. Multinationals

June 14, 2011

Dear Senators and Representatives,

As business organizations with small business members throughout the United States, we call upon Congress to reject pleas by U.S. multinational corporations for short and long-term tax holidays on profits held offshore, and to instead close the tax loopholes that reward companies for transferring U.S. profits, jobs and investment abroad.

Op-Ed: Paul Egerman, Offshore Tax Dodging Hurts U.S. Business

By Paul Egerman
Op-Ed Syndicated by American Forum, May 31, 2011

When a company like General Electric pays little or no U.S. income taxes, it has troubling implications for domestic business and our entire society.

As a businessman and entrepreneur, I believe it is myopic tax policy to force domestic enterprises to compete on an unlevel playing field against companies that use offshore tax havens to relocate profits.

Kansas City InfoZine: Ten Years After Bush Tax Cuts

Kansas City (MO) InfoZine, June 8, 2011

Tuesday marked the ten-year anniversary of the Bush tax cuts, which were renewed late last year. 

Forbes: Some Millionaires Want to Pay More Tax

Excerpt citing Business for Shared Prosperity: "Forbes editor Janet Novack pointed out that some small businesses are also calling for expiration of the high-end tax cuts in contradiction to their purported interests.  Who knows, maybe this will turn into a groundswell…  Probably not, but it’s interesting and at least marginally hopeful."

By Leonard Burman
Forbes, June 7, 2011 

The Hill: Rick Poore, [No] Happy anniversary, Bush tax cuts!

By Rick Poore
The Hill, June 7, 2011

Today is the 10th anniversary of the Bush tax cuts. Looking back over the last ten years, if I had a nickel for every time small business was invoked to push these tax cuts that benefit millionaires, I might actually be one.

I’m not a millionaire. Not a lot of small businesses are. I’ve been in business for 17 years. I started my custom screen printing business in Lincoln, Nebraska in 1994 with three employees, and over the years we’ve grown to employ 29 people. But we’ve never landed in the top tax brackets. Foreclosure crisis has brought out the best in some Americans

A time of trouble is a time of testing humanity. The foreclosure crisis has fortunately brought out the best in some Americans – some of the rich ones who have come forward asking President Obama to tax them. The petition made by them indicates that idealism is not confined to a modest number.

Roll Call: Hearing Underrepresented Small Business, Leaders Say

By Janie Lorber
Roll Call, May 12, 2011

Small-business groups accused Republicans of shutting them out of a hearing held Thursday by the Congressional committee established to look out for their interests.

The House Small Business Committee and the Oversight and Government Reform Committee co-hosted the hearing to address a proposed executive order that would require potential federal contractors to disclose direct and indirect political spending.

Huffington Post: Small Business Owners Demand Repeal Of Bush Tax Cuts For The Rich

WASHINGTON -- Michael Teahan, like his father, mother, and uncles before him, is a small business owner. The 52-year-old has spent most of his adult life running his own businesses: a restaurant, a coffee bar and various companies involved in the espresso machine business.

"I was the only person in my family to go to college, because that’s not what we did -- we all opened up businesses," Teahan says. "For some people, that’s a big hurdle ... for us, it was like having lunch."

New York Times: U.S. Business Has High Tax Rates but Pays Less

By David Kocieniewski
New York Times, May 3, 2011

Excerpt: "Furthermore, some business owners complain that the American system unfairly rewards disingenuous bookkeeping rather than innovation. It forces companies to compete “based not on product quality and services, but on accounting gymnastics,” said Paul Egerman, former chairman and chief executive of eScription, a medical transcription service in Boston."

The United States may soon wind up with a distinction that makes business leaders cringe — the highest corporate tax rate in the world.

St. Louis Post Dispatch: Motivation not all it's cracked up to be

"If I were selecting a businessperson to be Citizen of the Year, I'd go with somebody like Lew Prince." Lew is a longtime BSP member. 

By Bill McClellan
St. Louis Post Dispatch, May 2, 2011

The great Motivational Seminar has come and gone — my 70 tickets never arrived — and it was, by all accounts, well-attended. Perhaps this means that our region will soon be surging forward. Thousands of motivated St. Louisans will be a mighty force for change!

Or maybe not.

American Forum: Frank Knapp, What happened to gloomy predictions?

By Frank Knapp, Jr.
Syndicated by the American Forum, March 23, 2011

Economic reports show that most job growth in our country this year has come from small- and medium-size businesses. That trend will only accelerate, according to the recently released Small Business Index from the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business.

American Forum: Frank Knapp, Egypt: A warning for U.S. Democracy

Frank Knapp Jr.
Op-Ed syndicated by American Forum, 2/16/11

Make no mistake about it – the peaceful Egyptian revolution was brought about by the workers and small business owners of that country protesting together. They want economic opportunity for all and a democratically elected government that puts its peoples’ interests above the interests of the financially powerful, well-connected oligarchy.
There is a lesson here for our country.

Washington Examiner: Obama trying to shake anti-business reputation

By Julie Mason
Washington Examiner, 12/15/10

Shedding his anti-business label could prove more daunting than President Obama anticipated, with the warring interests of small-business owners and large corporations competing for favorable policies. As part of a larger, year-end image makeover that has the president edging back toward the political center, the White House on Wednesday invited 20 corporate chief executive officers to meet with Obama privately at Blair House, across the street from the White House.

Indianapolis Star: It's a myth that tax cuts for the wealthy create jobs

By Mercedes Brugh
Letter to Editor, Indianapolis Star, Dec 15, 2010

Good for the House Democrats for rejecting the compromise on taxes. What Republicans got (tax cuts for the rich) is worth more than the unemployment benefits the president got.

The advocacy groups Business for Shared Prosperity, Wealth for the Common Good and Patriotic Millionaires for Fiscal Strength have more than 100 signers with annual incomes exceeding $1 million and 500-plus signers with incomes above $250,000 who want to see tax cuts for the wealthy expire as scheduled on Dec. 31.

Pharos-Tribune: Democrats right to reject deal

By Mercedes Brugh
Public Forum, Pharos-Tribune (IN), December 14, 2010

Good for the House Democrats for rejecting the “compromise” on taxes. What Republicans got (tax cuts for the rich) is worth more than the unemployment benefits that Obama got.

Business for Shared Prosperity reports that, Wealth for the Common Good and the Patriotic Millionaires for Fiscal Strength have over 100 public signers with annual incomes of over $1 million and 500-plus public signers with household incomes over $250,000 who want to see tax cuts for the wealthy expire as scheduled on Dec. 31.

San Gabriel Valley Tribune: Do you favor Obama tax plan?

San Gabriel Valley Tribune, Dec. 12, 2010

No: Tax cuts for the wealthy won't help small business
By Brian Setzler

The Hill: Holly Sklar, Tax Deal Like a Bait and Switch Mortgage

By Holly Sklar
The Hill, 12/10/10

Republicans played President Obama like mortgage hustlers played homeowners. Focus on the teaser rates, borrow more than you need and trust us to work with you to refinance later.