Tax Reform Laws Affecting Small Businesses In 2013

Dear Mr. President,

It is with sorrow that I write this letter today but I feel it my civil duty to highlight some issues within your administration that the humble citizens of our great nation are being forced to face.

It is true that entrepreneurs make investments into their businesses which results into jobs for people and thus, a higher employment ratio. This raises the standard of living, generates revenue for city to federal governments to fund social services, education systems etc. Furthermore, such investments may be termed as the lifeblood of our economy, as they inject the money necessary to keep our nation at the top. It is the entrepreneurs and businessmen who nurture and facilitate our economy into prospering.

Therefore, your statement, “If you've got a business, you didn't build that. Someone else made that happen” was considered highly unfair to the people who risk their futures and investments for the betterment of the economy. Moreover, the upcoming tax reforms of 2013 will seemingly triple the risk of new ventures as well as raising millions of dollars in tax liabilities, and the economy and current firm owners and businessmen will suffer the consequences. Not all small firms will be able to sustain such tax hikes, leading to a higher percentage of unemployment as well as loss of revenue for the economy. It is imperative that proposed policies be revised by people who have experience running small businesses so that they may shape future tax reforms in a way beneficial to both the economy and the people, not only a certain few at the top.

Deepest Regards,

Concerned Citizen.

Abstract

On the day President Barrack Obama was elected into the Whitehouse and the Oval Office, the whole nation was optimistic to see at last a President who swore to stand up not only for the rich, but for the rights of the middle and poor class. This happened during the Great Depression, one of the most severe economical crisis that America had ever faced. Many supporters of the Obama Administration were convinced that the main priority for this administration was to rescue the country from the horrendous recession descending upon the entire world. Therefore, the topic for discussion today is how disappointment is spreading throughout America due to Obama Administration's taxation policies affecting the ability for small entrepreneurs to start and build a successful business.

Tax reforms are supposed to cater to the public good by raising revenue needed to fund public expenses like Healthcare and Social Security. Nowadays, the aim of such tax reforms has shifted from the target of funding these public expenditures to how taxes levied may be used to stimulate economic growth. This presents a problem as all the recent reports and studies show that recent 'economic growth' has only benefitted a very few on top of the income range, leaving the middle class onwards to drown. Thus proving that using tax reforms as a tool to elevate economic growth is only beneficial ...