Business for Shared Prosperity

By Lew Prince, managing partner of Vintage Vinyl, an independent music store in St. Louis
The Hill Congress Blog, 10/27/11

I’m one of those “job creators” members of Congress profess to admire so much. Thirty-two years ago, my partner and I started a small business with $300 worth of old records and a booth at the local farmers market. We’re now the biggest independent music store in St. Louis and employ 22 people. Our annual revenue is around $2 million. We’re a classic American success story...

[House Ways and Means Committee Chair David Camp] wants to cut top individual and corporate tax rates from 35 percent to 25 percent. He would reward U.S. multinational corporations that have gamed the system with a 5.25 percent tax rate on U.S. profits they have disguised as “foreign” earnings. All this will be great for gigantic multinational corporations, Wall Street and the fat cats who attend those $1,000-a-plate and up political fundraisers. It will be great for the corporate lobbyists gaming our political system every day.

It won’t help small business, and it won’t help America. Read More

http://thehill.com/blogs/congress-blog/economy-a-budget/190277-trickle-down-tax-cuts-a-broken-record