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Small Business Report: 12/16

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    'Business Roundtable' talks tax rates ahead of 'fiscal cliff'

  • Duration 1:57
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In one corner CEOs of some of America's biggest corporations that pay.

Corporate tax rate in the other entrepreneurs who pay their company taxes at individual rates because they have.

-- pass through entity like a partnership LLC are subchapter S corporation.

The CEOs are lobbying to get their company tax rates lowered through reform of the corporate tax system.

In the meantime the president wants to raise personal tax rates on families that earn more than 250000.

Dollars a year which would cost some small business owners.

So it.

It came as a shock to some small business advocates when the business roundtable this week endorsed higher individual tax rates as one way to raise new tax revenue and a deal to avoid the -- flat.

Round table.

First its opposition to higher rates out of fear of the impact of falling off the -- It's letter was signed by a 168.

CEO.

The national federation of the defense.

Business which represents 350000.

Small businesses and opposes higher rates went ballistic.

You take from Peter debate all.

-- ignored one huge saying that the economy did this small and midsize business segment which is.

About.

37%.

Of the -- business income employs over half.

Private -- workforce.

As saying that the corporate side is.

Is more important.

But the roundtable is also demanding spending cuts including an entitlements as part of any fiscal deal.

It's also telling small business owners that what's good for corporate America is good for them.

It says the average big company buys from 6000.

Small vendors -- roundtable says that falling off a cliff would harm.

All of them and quote to reach a compromise we will all need to give a little.

That's it for this edition of the small business report I'm Peter Barnes Fox Business Network.

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