On the recordNovember 15, 2012
in less then 2 months, American taxpayers are set to experience one of the largest tax increases in American history. With the elections behind us, it is time for us to work together to reach an agreement that can pass both chambers of Congress and be signed by the President. Reaching an agreement won't be easy, but it must be done to avoid going head first off the fiscal cliff. By this time we are all aware of the Congressional Budget Office warning that failing to come together threatens to send us into another recession. An agreement is certainly doable, but all we hear about is what revenues Republicans are willing to put on the table. We need to hear what the President and my colleagues on the other side are prepared to tackle in regard to reforming entitlements that are the long-term drivers of our fiscal problems. That being said, we will not be able to reach an agreement if the other side continues to insist on punishing entrepreneurs and small businesses in the name of raising taxes on the ``wealthy.'' My colleagues on the other side of the aisle seem to believe that tax increases, particularly on high-income individuals, do not matter. They argue that raising taxes on the so-called wealthy will return us to the economic growth experienced at the height of the 1990s. This defies common sense. If you ask a business owner if raising his taxes will hinder his ability to grow his business, he assuredly will tell you they will.…





