President Obama and top Democrats are pushing a small business tax hike to fuel more government spending. But Congressman Boehner is fighting back. Boehner, a former small businessman, confronted the president yesterday at the White House and made it very clear: the Obama tax hike “will hurt small businesses, many of which pay income taxes as if they are a household.” The Wall Street Journal reports:
“The president met this morning with House and Senate leaders from both parties, and a big part of the conversation was on the tax cuts, all of which expire at the end of the year if Congress does not act. … Boehner, an Ohio Republican, and other GOP leaders say all of the Bush tax cuts should be extended while the economy is still struggling to gain altitude. …
“A former small-business man himself, [Boehner] quoted a congressional Joint Tax Committee study that found that half of all small business income would get hit by the president’s planned Bush tax-cut lapse. Sure, the small businesses not making any money wouldn’t be affected, but the ones succeeding out there would.”
The Joint Tax Committee study referenced by Boehner can be found by clicking here.
John wants to cut government spending – and stop the tax hikes – to help create new jobs and get control of the deficit. And he has a lot of key support:
>> A new survey shows that 73 percent of Americans want to cut government spending, not raise taxes. Resurgent Republic found that “[w]idespread opposition to tax increases is grounded in the perception that the federal deficit is driven by too much spending rather than too little revenue.”
>> A letter signed by 100 economists argues that spending cuts are the best way to get the economy moving. Boehner presented this letter to President Obama himself.
>> Even the president’s chief economist, Dr. Christina Romer, thinks tax hikes will hurt economic growth. She wrote in last month’s issue of American Economic Review that “tax increases appear to have a very large, sustained, and highly negative impact on output” and that “tax cuts have very large and persistent positive output effects.”
If you want to help Boehner fight to cut spending and get our economy moving again, join the Boehner Campaigners today.
READ MORE:
- Enquirer Backs Proposal to “Rein” In Job-Killing Federal Regulations (7/27/10)
- Boehner: More Spending Won’t Fix Our Economy (7/15/10)
- Federal Deficit Tops $1 Trillion, Highlighting Need to Cut Spending Now (7/14/10)
- Boehner: “It’s Time to Cut Spending” to Create New Jobs (7/8/10)
- Boehner Exposes Democrats’ Backroom “Scheme & Deem” Spending Plan (6/29/10)
Tags: deficit, jobs, small businesses, spending, taxes
