Designer Tommy Hilfiger on Bush Tax Cuts: ‘Any Tax Cuts Are Beneficial to Business Owners’

October 20, 2010 - 4:30 PM

(CNSNews.com) - Asked about his view on the question of whether the Bush tax cuts should be maintained for people earning more than $250,000 per year (they expire on Dec. 31 and President Barack Obama does not intend to extend them), fashion designer Tommy Hilfiger, founder of the Tommy Hilfiger clothing brand, told CNSNews.com: "I think any tax cuts are beneficial to business owners."

Hilfiger went on to say that "unfortunately, we can count on three things in life: death, taxes and fickle weather."

Members of Congress have been debating whether the cuts in the income tax rates enacted during the Bush administration, and which are set to expire at the end of this year, should be extended for all taxpayes, or only for households earning less than $250,000 a year and individuals earning less than $200,000.

CNSNews.com asked Hilfiger if he thought these tax cuts would help small business owners create jobs.

“I think any tax cuts are beneficial to the business owners. So I think that whatever help we all can get is always a benefit, and unfortunately, we can count on 3 things in life, death, taxes and fickle weather,” Hilfiger told CNSNews.com when asked about the issue. Hilfiger was in Washington, D.C. on Tuesday night to attend the “Fashion’s Fight Against MS” event.

The designer sold his Tommy Hilfiger clothing line to Apax Partners in 2006 for $1.6 billion. The company had over 5,400 employees worldwide. It was later purchased by the Philips-Van Heusen brand for $3 billion.

When asked if any government regulations or specific taxes were an issue for him when running his business, Hilfiger cited sales and property taxes.

“I think sales tax has always been an issue, because whenever [the sales tax is lifted], the shopping starts again, and I think that, you know, sales tax is necessary, but it certainly puts a damper on shopping sometimes,” he said.

“I think property tax is an issue. I think there are a lot of taxes that affect one’s daily life, but in the scope of things, how else does a government survive without taxes?”

Hilfiger served as the host of the “Fashion’s Fight Against MS” runway show that raises money to find a cure for multiple sclerosis (MS). Hilfiger serves as the honorary chair of the charity, which benefits the National Capital Chapter of the National MS Society.

He told CNSNews.com that he would like to see more public broadcasting content dedicated to educating the public about the disease.

“I think awareness is key. I think the more aware the public becomes, the more sympathetic they are towards a disease like MS, and if they realize how many people it is affecting and that their donations will really help and possibly even find a cure, I think that will make all the difference in the world,” Hilfiger told CNSNews.com.

“It would be great to have public broadcasts and great to have television and Internet really showing I think the results of the disease and how close we can possibly be to finding a cure with the right funding,” he added.