Proposed oil tax affects small businesses
To the Editor:
The mainstream media has done little reporting on President Obama’s recent proposal to add a $10-a-barrel oil tax, so I am writing to all residents a little information on the burden to small business and consumers.
New Hampshire’s small business community stands to lose out through President Obama’s recent tax policies. President Obama recently submitted his budget proposal to Congress and once again, he has called on business owners to bear a significant amount of the burden. The administration proposed a $10-a-barrel oil tax under the guise that oil companies would be responsible for paying the extra fees. That is simply not the case. Businesses such as mine will end up bearing the brunt of this tax.
Just do the math. If energy costs go up, my cost of business goes up. If my cost of business goes up, I have to either raise the price of my services or eliminate overhead such as employees.
There is no doubt that the tax code is in need of an overhaul, but not at the expense of New Hampshire’s small businesses and employees. The Obama administration should treat all industries equally with taxes.