Business Owners Weigh in on Obama's Tax Plan

Thursday, February 23, 2012

President Barack Obama greets workers following a speech at the Master Lock factory on February 15, 2012 in Milwaukee, Wisconsin. (Getty)

After promising a new business tax plan in his State of the Union Address last month, President Obama revealed his corporate tax overhaul on Wednesday. The plan includes fewer tax loopholes, reduces tax rates to from 35 percent to 25 percent for manufacturers, creates a new minimum tax for foreign earnings and simplifies the tax code for small businesses. Critics, like Mitt Romney, argue for even lower taxes for corporations. But what do manufacturers and small business owners have to say about Obama’s plan?

Mei Xu is the founder and president of Chesepeake Bay Candle, an integrated global marketer of candles, home fragrance, and home décor products. She has been working for the past three years to bring manufacturing jobs to the U.S. 

Doug Pettigrew owns and operates Electronic Brain Solutions, a small business that provides computer support for companies and individuals in the Detroit area.


Doug Pettigrew and Mai Xu

Produced by:

Kristen Meinzer

Comments [1]


There seems to be a pattern of journalists excitedly reporting the latest campaign gimmick from this President and business owners who must live in the real world explain why it is not serious.
The conflicting goals here is the President wants to win, the journalists want to be his press agent and the business owners simply want to thrive in their business.

Feb. 23 2012 10:11 AM

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