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Small businesses are the backbone of job creation in South Carolina, but we are not maximizing our potential when we have got what's effectively the highest income tax rate in the Southeast holding us back. |
| in Business Quotes by Mark Sanford |
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Providing tax relief and reducing regulations leads to job creation and new economic opportunities for our small businesses, which are the backbone of our economy.- Cathy McMorris
Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
We will attract more people to Kentucky by lowering our income tax rate. In fact, lowering the income tax rate is the single most important thing we can do to create opportunity.
The death tax causes one-third of all family-owned small businesses to liquidate after the death of the owner. It is also an unfair tax because the assets have already been taxed once at their income level.
We've got to help small businesses because they are the backbone of our economy. We've got to increase opportunities for everyone and we can do that by helping women and minority-owned businesses.
