Jack R. Rickel states in his Nov. 15 reader's commentary, "Any small businessman will tell you that he and his business will not survive if the company's income is not greater than his expenses. The government's main income is derived from taxes. If the taxes are not greater than the country's expenditures, the economy is going to fall." He is exactly right. I am not knowledgeable enough to speak to his comments on Norquist. However, I don't think the Republicans' "pledge not to raise taxes on the 2 percent of the wealthiest people in the U.S." is based entirely on any allegiance to Grover Norquist.
The reason taxes should not be raised on businesses, even the "wealthiest," is because "business will not survive if the company's income is not greater than his expenses." Most businessmen will tell you that any more taxing will make it harder for them to maintain an income that is greater than their expenses. Many businesses have already announced that they are laying off, or cutting hours and/or benefits, because of anticipated higher taxes and expenses related to Obamacare. Some fear they may go out of business altogether. This will result in lower tax revenue, so the gap between the government's expenses and its income will be even greater. America needs jobs. Cutting taxes will assist potential employers with growing their businesses. As their businesses grow, they can hire new employees. New employees mean increased tax revenue!
The president says he wants to raise $1.6 trillion through tax increases. How does he expect to avoid a "fiscal cliff" when he proposes spending that is greater than his increased tax income? He won't raise that much anyway when employers start laying off taxpayers by the thousands. He needs to cut spending, and keep taxes where they are. Or, better yet, cut taxes on the job creators. There is enough unnecessary spending that, if cut, will save $1.6 trillion, without touching Medicare, Social Security or the military. Readers need to urge their elected officials to follow that route. Or the economy is going to fall.
L. John Bost, Strasburg