December 2 2010
Do You Really Want to Raise This Man's Taxes?
Carrie L. Lukas
Bankrupting America has a new installment of their video series, "The Story of Business." In this one, Mike, who runs a manufacturing business, proudly describes the products his company makes and how they leverage capital investments and innovate to compete with China and India.
He's faced tough times recently, not just because of the economic downturn, but from the burden created by the federal government. And his challenges are about to get worse. Because he files his business's taxes under the individual income tax system, Mike's one of those "rich" guys in the top income tax bracket who Democrat want to hit with a huge tax increase in January.
Watch the whole story to see why Congress needs to permanently extend existing tax rates.