NYC family business at risk of closing after 130 years due to high taxes | Fox News Video

So I just read this article on Fox News about a 130 year old family business in NYC that’s at risk of closing. And get this, the reason behind it is high taxes! Can you believe it? It’s like the government is punishing them for being successful.

Basically, the business is called Russ & Daughters and it’s been around since 1914. They specialize in traditional Jewish delicacies like smoked salmon and herring, and they’ve become a staple in the community. But now, they’re struggling to keep up with the rising costs of running a business in NYC, and the high taxes are the final nail in the coffin.

It’s not just a sad story about a family business closing its doors though. It’s a larger issue of how high taxes are hurting small businesses across the country. I mean, if a business as well-established as Russ & Daughters can’t survive, what hope is there for others?

It’s especially frustrating because small businesses are the backbone of our economy. They create jobs and help build communities. But instead of supporting them, the government is making it harder and harder for them to survive.

It’s a shame that a business with such a rich history might have to close its doors because of something as preventable as high taxes. Let’s hope something can be done to help them out and keep them around for another 130 years.