Higher Income and Sales Taxes Will Cripple Small Business Job Growth

CONTACT: Andy Markowski (860) 216-8810 or Jason Brewer (202) 406-4435

Hartford, March 25, 2009 – The following is a statement by Andy Markowski,  state director of Connecticut’s leading small business association—the National Federation of Independent Business—reacting to a rally today in Hartford in support of  higher income and sales taxes.

“Higher taxes will only mean more ‘Going out of Business’ signs and fewer jobs here in Connecticut. This special-interest sham is about expanding the size of government and adding public sector jobs at the expense of those entrepreneurs creating them in the private sector—that’s a recipe for ruin.  

“Small employers historically create two out of every three new jobs in Connecticut, and most file their business income through their personal income tax. When supporters of this scheme scream ‘tax the rich’, what they really mean is tax the job creators. 

“Despite the rhetoric coming from proponents, the small business property tax credit in this proposal is puny when compared to the massive increases in income and sales taxes that many small employers will be forced to pay. We cannot turn our economy around, stabilize our budget and provide the basic services taxpayers expect if we drive entrepreneurs and small job providers from our state. 

“Reckless regard for people’s money on Wall Street helped fuel this economic crisis, and this plan is little more than an assault on taxpayers from the other direction. We won’t dig out from under the mess we’re in by giving state government a license to declare open season on taxpayer’s wallets."