Billionaires? Talk to This Small Manufacturer about Impact of Tax Hikes

By September 22, 2010General, Small Business, Taxation

Fox Business News talks to a middle-class business owner whose company is going to be hit hard if Congress extends only part of the 2001 and 2003 tax rates, raising taxes on small businesses and higher-income individuals. It’s Drew Greenblatt, owner of Marlin Steel Wire, a board member of the National Association of Manufacturers and a vocal advocate for small business.

The segment explain the investments and commitment that have made the company a success, even as the Chinese stepped up their competition for the market. The tax increases would bring its growth to a halt, Drew says.

The reporter talks to an employee, Nathan Myers, who describes the company’s progress: “It’s grown considerably since when I started. It was kind of small and we did things in a very odd way, and now we’re up in the 21st century now.”

The narrator provides context: “Remember, now, we’re talking about a man who makes less than $500,000 a year, his small business employs 30 Americans, growing because of tax cuts, hard work, and innovation in the face of global headwinds….”

And Drew concludes, “It’s very important for the policymakers to slow it down and realize they’re having big impacts on people who are trying to do things…”