: US Business Owner Frets Over Possible Tax Hike
74 views · Published 7 December 2010 · 3:16 · Indexed 20 September 2026
Channel: Voice of America · 2010 · News & Politics
President Barack Obama's announcement of a deal to temporarily extend tax cuts for all people at all income levels could, if enacted, defuse a confrontation between Democrats and Republicans on how much to tax the wealthy. At a time of slow economic growth and rising national debt, most Democratic legislators wanted to allow tax cuts for top earners to expire, while preserving them for everyone else. Republicans insisted no one's taxes should rise and appear to have won the argument - to the delight of business groups. VOA's Michael Bowman spoke with one Washington-area entrepreneur who feared higher taxes would strangle his expansion plans.
