Small Businesses Being Thrown Under the Bus While Dems Try to Save Their Own Skins.

Most legislators in this country agree that small business is the lifeblood of job creation. So I’m having a hard time understanding why Democrats are choosing to run for the hills rather than extend the Bush tax cuts which would continue to provide small business the money they need to grow and hire. Democrats are hiding because they want to postpone any action on extending the tax cuts until after the November election as they are scared it will be seen by voters as a tax hike. Which it is!

This issue is critical for small business. While Democrats gear up to vote down the tax cut extension after November 2 (although many are pushing back from Nancy Pelosi’s strong arm tactics), the permanent extension of the Bush tax cuts is favored by scores of small to medium-sized businesses who create about 75 percent of the job growth for this country. Economists agree that President Obama’s plan to limit future tax breaks to couples earning less than $250,000 would subject 50 percent of small business income to a tax increase, stalling the job creation engine.

What’s more, even if tax cuts are extended for those under the $200,000 to $250,000 threshold, we would all eventually feel the impact at the checkout counter. We will end up paying a ‘tax’ in the form of higher grocery bills, clothing bills, etc., as small businesses who are indirectly paying higher taxes will raise the prices of their goods

The National Association of Manufacturers says 73 percent of its member companies file taxes as individuals and about 50 percent of all small-business profits would be affected by the expiration of the tax cut.

This is yet another terrible policy decision perpetrated by an administration where only eight percent of its members have any business experience.

Extending the Bush tax cuts is good for business and good for America. This midterm election, send a message to Congress that we need to support this important initiative so we can create more jobs. Vote to change the direction this country is going.

4 Responses to “Small Businesses Being Thrown Under the Bus While Dems Try to Save Their Own Skins.”
  1. Thanks for sharing this Neal there are so many that need to be informed on whats really going on. With the proverbial “blinders” on they just are not getting the whole picture. I can only hope that in November the right choices are made….

  2. Kevin Pauls says:

    There is another issue within your comment that has to be addressed. Only 8% of our government representatives have business experience. A “career politician” should not mean spending most of your adult life representing a sigle congressional district.

    TERM LIMITS would encourage more people to become involved in the process. The price of admission should go down. The process of overthrowing a career incumbent is a “bank breaking” project. The Democrat and Republican “machines” would still be a problem but the Tea Party phenomenon is chipping away at that.

  3. It would seem that their mouths say “pro-business” but their actions and votes are ‘anti-business”. Their lack of understanding of consequences from any of their actions (or inactions) is astounding. Just look at the 1099 law stuffed into the health care bill. They have no clue the paperwork nightmare that they have brought down on all businesses. But maybe they do and don’t care as it increases the need to govt workers in the IRS dept.

    My current idiot representative is a perfect case in point. Ron Klein (US Congress Dist 22) voted as Pelosi told him to, did not read anything, did not vet the consequences of the provisions in the bill and did not question anything. He was an attorney who is hoping to be a career politician. We are putting an end to that dream in a few weeks when Lt Col Allen West stomps him at the polls.

    Klein also has no concept of banking and regulation and the free enterprise system. At a commercial realtor meeting last week, he asid that he favored another bailout of the banks (because the last one worked so well?). All TARP banks have cut lending, not expanded it, since receiving funds. Congress says they should lend, while privately leaning on the bank regulators to keep banks from making any more loans. Growing government is not growing the economy or the private sector and it will only create govt jobs.

    Socialism is great until you run out of other people’s money. (was that Margaret Thatcher?). Great article, Neal. Keep the intelligent discussions coming.

  4. curtis says:

    Tell me where a person can find the record of where there was a tax cut give to small business! The tax cuts were given to BIG BUSINESS and the top 2% income earners that don’t create jobs for any one.How has that trical down Economy worked for anyone but the rich?

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