'A tax of this magnitude will disproportionately hurt the poor,' he said.
Higher taxes would also hurt operating results in the fourth quarter, he added.
Business has not been good across the board, and the tax certainly hurt us when we needed help the most.
Manufacturers were concerned that the tax hurt their international competitiveness.
Over the last 30 years, economists have undertaken hundreds of studies to determine whether taxes hurt the economy.
Labor leaders have warned that the tax would hurt workers.
The perception is also that higher taxes would result to smuggling and ultimately hurt the poor.
But she said the tax ultimately could hurt the whole region.
But how much those taxes would hurt would depend on economic growth.
He said the high taxes hurt business and kept young families from moving in.