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National Federation of Independent Business CEO Dan Danner on efforts to prevent tax hikes on small businesses.
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It is raining paper inside the beltway all kinds of groups sending letters to congress and to the president calling for all kinds of requests about the fiscal cliff.
Do comprehensive tax reforms cut entitlements cut.
Out all kinds of deductions.
I mean that we can't imagine how many of these letters are out there now and number these letters are sent by business groups that filed taxes as individuals.
Our next guest represents one of those groups and this is his letter signing the letter National Federation of Independent Business CEO and president Dan Danner.
Who was chief of staff of -- the commerce secretary during the Reagan administration say you know what's going on inside the beltway possibly.
Welcome to the program Dan thank you for coming -- you very much.
Thanks -- listen I'm not wrong they are raining all kinds of letters down on congress what makes your letter different what makes you think that years -- get more attention.
Well as you indicated earlier that the people in this letter represented.
Hundreds of thousands of businesses and millions of employees and all their businesses file as individuals.
And they don't think their business income.
Ought to have it set rates increased right now.
In fact let's pull up the quote that states that specifically we can put it up on the screen among other things that you're asking for -- say.
There's no economic or political justification for reform that -- -- marginal tax rates on corporations.
While -- -- their marginal or effective tax rates on the 95% of businesses.
Can just explain to people what you really mean by that is in 95% of businesses file as individuals.
Sure that the majority of small businesses are organized as either rent escort or an LLC and and and those classifications.
File as individuals but all that money at the end of the year is not take home money.
That's money they had to invest in their business created job hire a new employee.
And they don't think -- bills hardware that I ought to have a higher tax rate.
Then Home Depot does I think that is patently wrong.
Here's what worries me down and that is that everybody's already stating their claim don't cut out charitable deductions because then.
Nobody he'll donate to charities anymore or don't touch the mortgage deduction because although that you think -- -- second see them crawling like -- toward a gigantic crumb cake.
You know and shouldn't everybody here have to suffer in some way shape or form.
Sure I think I think -- we're gonna get the address them deficit and spending -- we have.
One that there at some time there's probably gonna need to be more revenue on the table but secondly we believe strongly -- The letter said this if we're gonna raise revenue we have to have in agreement also.
To cut spending and that -- he's addressing entitlements.
Have you gotten any reply from anybody.
-- sure I mean we've gotten.
Some replies probably more from one side of the aisle to the other -- and I think there is a strong debate whether.
We need to couple these two or not we certainly believe that.
If it's like congress in the past if you raise revenues now and promise you gotta deal with spending later that that in all likelihood doesn't.
What will never come yelled -- doesn't -- -- won't happen Dan do you remember any.
What's your time in the Reagan administration where there was something like this where we were butting up against a real -- where you fell over -- there was an -- an abyss they're like the fiscal cliff.
I don't think there's ever been in my time and I've been in Washington 34 years anything quite as.
Draconian.
As this.
Good luck she'll let us know if you hear from the president toward John Boehner we'd love to hear about it thank you so much.
Thank you for having me National Federation of Independent Business CEO and president Dan -- sticking up for the little guy here.
There are the base of work -- -- coming up neck.
