Guest Editorial - Alternative Tax (04-21-06)
There's been a lot of talk about small business and the Alternative Minimum Tax. This law requires businesses to pay taxes even when they're losing money.
Just like you, small businesses are paying for gasoline at nearly three dollars a gallon, paying record rates for natural gas and dealing with huge increases in health and other types of insurance while competing with mega-corporations and the rest of the world. Many are close to the breaking point.
This tax discourages people from starting or staying in small businesses. Would you put your whole life on the line knowing that even if you lose money, you'll owe taxes on your business?
If a factory announced it was thinking about bringing 9,000 jobs to Kentucky, our leaders would do back flips and give them the moon and stars to locate here. But the almost 9,000 small businesses that start in Kentucky each year get no respect.
It's time to make small business a priority in Kentucky. Small businesses aren't looking for a handout. They just want the opportunity to sink or swim without government handing them an anchor. They are looking for a meaningful fix to a tax that threatens to drive them out of business or out of Kentucky.
There has been a lot of talk about calling a special session to repair this tax law. So please -- call your Senator, Representative and the Governor and tell them it is past time to get to work and come up with a solution.
I'm Doug Wolford, and that's my...Point of View.