WASHINGTON D.C. (KMOX)-The owner of one of St. Louis’ best known small businesses was at the White House Tuesday, talking with President Obama about the fiscal cliff.
Vintage Vinyl Managing Partner Lew Prince joined 11 other small business owners from around the country, in urging the administration to reach a long-term deficit reduction deal that, according to Prince, “Doesn’t cause huge pain to people in the safety net or average people.”
Prince says a large part of that plan would include getting rid of the Bush-era tax cuts for the very wealthy.
Prince tells KMOX continuing the middle class tax cuts, would spur growth for everyone, “It puts money into the hands of the people who walk in to the butcher, the baker the grocery store around town. What’s good for Schnucks and Dierbergs is good for every small business in America and putting money in people’s hands is the best stimulus to the economy and stimulus to growth that there is.”
Prince says there’s no evidence that giving the top 2 percent more spendable income, actually stimulates job growth, “What drives hiring in my business and every other business is increased demand. And anyone who owns a business knows that when demand goes up, because customers have more money, you get to hire more people. It’s really that simple.”
Prince is a member of Business for Shared Prosperity, whose members joined members of the American Sustainable Business Council in calling on Congress to end the Bush tax cuts for the top 2 percent and reinvest in infrastructure and education.