By Rick Dandes
The Daily Item
LEWISBURG — Lewisburg businessman Trey Casimir has joined 600 small-business leaders across America, signing a petition indicating that they believe the federal government ought to end tax cuts for wealthy Americans and use the money to reinvest in America.
When the first Bush tax cuts passed in 2001, Casimir noted, the nation had a budget surplus and Americans were told the tax cuts would pay for themselves by boosting economic growth and job creation.
“That hasn’t happened,” Casimir said. “Anyone who didn’t realize that should know it by now. These tax breaks didn’t pay for themselves, didn’t strengthen our economy and didn’t create jobs, at least not here in America. Where are the jobs?”
In the six years between the 2001 Bush tax cuts and the Great Recession, employment grew just 4.8 percent compared with 16.2 percent in the six years after President Clinton’s 1993 tax increase.
The vast majority of small-business owners have less than $250,000 in taxable income and receive the middle-class tax cuts, not the extra tax cuts for the wealthy. Less than 3 percent of households with business income are above the $250,000 threshold, and that includes hedge fund managers, corporate lobbyists, big business CEOs paid to sit on the boards of other big corporations and wealthy people renting out their vacation homes.
“We need to restore taxes to the level needed to invest in our economy and our people,” Casimir continued — investments that strengthen productivity and lead to more jobs.
Trey Casimir Acupuncture is a self-owned business operating in a storefront on Market Street.