In response to:

Avoid The Fiscal Cliff, And Then Reform The Tax Code

Kibitzer Wrote: Oct 05, 2012 1:05 PM
"Recent surveys of small businesses have shown that economic uncertainty is hurting our fiscal recovery." This is the reason that there should not be "temporary" tax rates. Businesses need to plan far more than 1 year in advance and having tax rates that are uncertain with year by year extensions does not give them a sound basis for planning. The legislative cowardice of having temporary rates so as to avoid having to vote for a tax increase ensures continuing uncertainty.
Texas Chris Wrote: Oct 05, 2012 2:07 PM
I am seriously considering buying a business. If the tax rate is going to jump 10% next year, I cannot afford it. If federal regulations regarding firearms change (it's a shooting range), I cannot afford it.

So, I'm not buying yet. I'm waiting to see what the political climate looks like after the election. Which means the 4 to 5 employees I would be hiring get to sit at home.

And it's like this all across the country. Entrepreneurs are ready to go to work, but we're not sure the time is right, what our taxes will be, or if regulations will even allow us to do business.

I can’t think of an issue that more perfectly captures the national debate than the one right now regarding the expiration of the 2001 and 2003 tax cuts. At the end of this year, current tax rates will expire and taxes will go up if nothing is done. The powerful Way and Means Committee, the chief tax writing committee in Congress of which I am a member, has already taken the lead and passed through the House of Representatives yet another extension of current rates for all taxpayers.

Some would have you believe this debate is about pitting rich and...