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Politics : PRESIDENT GEORGE W. BUSH
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To: Little Joe who wrote (201823)11/12/2001 11:53:50 AM
From: Kenneth V. McNutt  Read Replies (2) of 769670
 
<<If we get a 5% tax cut isn't that as good as a 5% raise. Many businesses are in trouble
and can't afford a raise in salaries now.'>>

I'll take the tax cut. I get to keep money earned. 5% raise minus taxes and soc. sec., plus added workman's comp, unemployment taxes on the employer leaves less to the worker and burdens the employer with further
taxes. Also, here in Michigan, we have a Single Business Tax(SBT), based on payroll. Higher the payroll higher the tax even if the employer lost money that year. Very high tech, high payroll business paid the most,
which is a deterrent to business in Michigan. I have read there is an attempt to repeal or reduce the burden, but , now retired from business,I admit I have not followed its passage.

Ken
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