Consumer Taxes vs. Small Business

Owners of a small business who are apprehensive about the ‘fiscal cliff’ are not only uneasy with their own finances – but also higher taxes on consumers.

At least according to a survey by lobbying group Small Business Majority. According to the survey, small business owners are concerned about not getting helpful tax breaks, like greater deductions for equipment purchases. They’re equally worried about a 2% increase in payroll taxes, committing consumers to slash spending, creating lower revenue.

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