Revenue-raising politicians love to pile on "big business."
That's how we got the Alternative Minimum Calculation tax with Tax Modernization. The AMC forces businesses with no profit to pay taxes on their gross receipts. When possible, those costs to the business are passed on to consumers. When that isn't possible, employees take the hit. Either way, new businesses get the brunt of this and it accomplishes nothing so much as to restrain economic growth.
The special session starts tomorrow and the Bluegrass Institute is encouraging business owners to tell legislators to scrap the AMC. Amen to that. If you patronize small businesses or work for one, you would do well to raise your voice also.
