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Rep. Reed and Small Business Advisory Board talk business uncertainty

July 15, 2013

Rep. Tom Reed and members of his Small Business Advisory Board met recently at Seneca Beverage in Elmira to discuss major obstacles facing “main street....

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Jul-16-13 8:44 AM

Concerned with the national debt?

Why not stop the subsidizes and tax loopholes that give make that billions...of our money to companies and rich folk that really dont need any more money to begin with..

Rep could start with oil and gas industry. Oh..but no..they contribute too much to your campaign.

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Jul-15-13 9:35 PM

cont-relative to the tax.

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Jul-15-13 9:33 PM

Marcia-to start with I only ask that you take a peek at the national debt clock and tell me what you glean from that. The keeper of the clock is neither Democrat or Republican or any other party for that matter.Last time I checked it was increasing at approx 3.8 BILLION per day! Some decline huh? Yes Marcia the budget gap aka deficit will decrease this year but do you know why? I do! Now why would small business not want to expand Marcia? What is your take on that? A couple of friends of mine run small business shops and they are not going above the 50 person threshold for one and only one reason. Can you guess what that might be and why they feel that way. I do! By the way Marcia I'm sure you know that you are using a play on words by saying "national debt has declined." So yes Marcia I can dispute what you say especially when you say that corporations payed no taxes or no income taxes. You of course, unintentionally I'm sure, forgot the rest of the story relative to the ta

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Jul-15-13 8:17 PM

Actually i took several economics courses while working on my MBA at UB. Guess you can't dispute anything I say.

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Jul-15-13 2:36 PM

Wow Marcia commendable job copying and posting all that which you have no clue as to it's meaning,nor do you even have any idea about why business is not expanding which was pointed out by Rep Reed. Have you logged into/on to the national debt clock lately Marcia? Take a look at the debt per person vs the debt per taxpayer ratio Marcia. Good lord go back to school and take a course in economics!

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Jul-15-13 12:27 PM

Perhaps Reed should concentrate his efforts on getting rid of the loopholes that allow gigantic high profit corporations from paying any taxes, burdening both individuals and small businesses. Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010. reuters dot com/article/2011/11/03/us-usa-tax-corporate-idUSTRE7A261C20111103

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Jul-15-13 12:24 PM

Regarding burdensome corporate taxes: "Claims that the United States’ corporate tax rate is uniquely burdensome to U.S. business when compared with the corporate tax rates of its industrial peers are incorrect. While the United States has one of the highest statutory corporate income-tax rates among advanced countries, the effective corporate income-tax rate (27.7 percent) is quite close to the average of rich countries (27.2 percent, weighted by GDP). The U.S. corporate income-tax rate is also not high by historic standards. The statutory corporate tax rate has gradually been reduced from over 50 percent in the 1950s to its current 35 percent. The current U.S. corporate tax rate does not appear to be impeding corporate profits. Both before-tax and after-tax corporate profits as a percentage of national income are at post–World War II highs; they were 13.6 percent and 11.4 percent, respectively, in 2012." epi dot org/publication/ib364-corporate-tax-rates-and-economic-growth/

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Jul-15-13 12:20 PM

It is a myth that small businesses with be hurt by National Health Insurance (better known as a republican lie.) "As of 2010, there were roughly 5.7 million small employers, defined as those with fewer than 500 workers. Some 97% of them have fewer than 50 employees. That means Obamacare's employer mandate applies only to 3% of America's small businesses...nearly all of those businesses already do provide insurance: 96% of those with 50-plus workers currently offer health plans anyway, according to government data." money dot cnn dot com/2013/05/21/smallbusiness/obamacare/index.html

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Jul-15-13 12:16 PM

There is a fallacy in every statement made by Reed. First of all the national debt has declined over the last few years. "A Congressional Budget Office study released today (5/14/13) forecasts that the annual U.S. budget gap -- the difference between what the government collects in revenue every year and what it spends -- will fall this year to $642 billion. That's $200 billion less than the non-partisan forecasting arm of Congress was predicting only three months ago and down sharply from the deficit levels that swelled as the economy contracted following the housing crash." www dot cbsnews dot com/8301-505123_162-57584449/feds-u.s-goverment-deficit-is-plunging/

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