It’s the Spending
Tonight’s State of the Union address will call for increased stock buyback taxes and a billionaire minimum tax, among other items. Neither is going anywhere.
Business owners should focus instead on the pending debt limit debate, which has begun in earnest and has the potential to establish the tax and spending battlelines for the coming decade.
The simple fact is the federal government is entering into unprecedented territory when it comes to our deficits and debt, which should signal the end of the last decade’s laissez-faire approach to Federal deficits. That in turn could force Congress to make big decisions about …
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