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NFIB: Small Businesses Want Simpler Tax Code

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Photo Credit: Daily Caller

As lawmakers contemplate tax reform, a new survey of small businesses suggests owners want lower rates and fewer deductions.

“More than half (52 percent) of small businesses believe that simplifying the tax code should be a top priority out of all potential revision options,” a survey conducted by the National Federation of Independent Business found.

An overwhelming majority of small businesses, 85 percent of those polled, want to see an overhaul of the tax code; 78 percent of those polled prefer a tax code with less preferential treatment.

“By an overwhelming margin, small-business owners indicated that they prefer lower individual tax rates and a simpler tax code,” said study author and NFIB senior research fellow William Dennis.

“They see economic possibility in growing their businesses, not in growing government revenue through tax increases,” Dennis continued. “In fact, their sentiment that spending cuts must take priority is overwhelming, with 81 percent preferring spending cuts to tax increases by at least three dollars in cuts for every dollar in revenues. Virtually no respondent in the survey favored increasing taxes over cutting spending.”

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Business leaders slam Obama for saying wealthy aren’t responsible for their own success

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America’s leading small business association has slammed Barack Obama for showing ‘an utter lack of understanding’ of the country’s entrepreneurs when he told them: ‘If you’ve got a business – you didn’t build that. Somebody else made that happen.’

In a hard-hitting statement to Mail Online, the National Federation of Independent Businesses (NFIB) president Dan Danne said: ‘What a disappointment to hear President Obama’s revealing comments challenging the significance of America’s entrepreneurs.

Mr. Danne added: ‘His unfortunate remarks over the weekend show an utter lack of understanding and appreciation for the people who take a huge personal risk and work endless hours to start a business and create jobs.’

President Obama said in a speech at the weekend that governments and not individuals create jobs, telling entrepreneurs: ‘If you’ve got a business – you didn’t build that. Somebody else made that happen.’

He added: ‘You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart.’

Read more from this story HERE.

Photo credit: Fibonacci Blue