How about just give small business owners a 10% tax break straight up?
“If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.”
- Alexander Hamilton. Spiritual father of #NeverTrump
Of course, the side argument continues to be that "businesses don't hire based on tax credits especially not when the credit is only 10%," but the people who make this argument forget that the Social Security tax witholding (6.2%) and the Medicare tax (1.45%) only total 7.65% - a difference of 2.75% off the 10% tax credit proposal (and that doesn't include the 4.2% SS tax reduction per the payroll tax holidy which ends on December 31, 2012). That 2.75% reduction could mean the difference between paying an electric bill or getting some necessary repair work done. Remember: We are talking about small businesses where every penny counts. And I haven't even mentioned the 100% tax deduction small business would receive for purchasing new equipment which was also part of the bill.
All of this thrwarted because Senate Republicans would rather risk seeing the nation's economy worsen than to give the President or Democrats any credit for improving the economy. And mind you Republican have already tried to repeal ObamaCare 33th times and failed each time. I say enough already!! Stop trying to do your party's business and start focusing on doing the People's business.
Last edited by Objective Voice; 07-22-12 at 06:18 PM.
"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
-- Adam Smith
Republicans are preventing Obama & the Democrats from lowering taxes on small-business owners.
the irony makes me want to vomit.