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Geithner: We Have To Raise Taxes On Small Businesses So The Government Doesn’t Shrink

Posted 24 Jun 2011 in Democrats, economy, stupidity, taxes

For several years now, Conservatives have been warning that Obama has no love for small business and will raise taxes on them as soon as possible. Now, with our economy reeling from nearly three years of harmful Obama policies, the administration is blatantly expressing their dedication to big government — and their contempt for free-market capitalism. To Democrats, government spending must be maintained, no matter who it cripples in the process. [emphasis added below]

(CNS News) — Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to “shrink the overall size of government programs.”

The administration’s plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per year — including businesses that file taxes the same way individuals and families do.

Geithner’s explanation of the administration’s small-business tax plan came in an exchange with first-term Rep. Renee Ellmers (R.-N.C.). Ellmers, a nurse, decided to run for the U.S. House of Representatives in 2010 after she became active in the grass-roots opposition to President Barack Obama’s proposed health-care reform plan in 2009.

“Overwhelmingly, the businesses back home and across the country continue to tell us that regulation, lack of access to capital, taxation, fear of taxation, and just the overwhelming uncertainties that our businesses face is keeping them from hiring,” Ellmers told Geithner. “They just simply cannot.”

She then challenged Geithner on the administration’s tax plan.

“Looking into the future, you are supporting the idea of taxation, increasing taxes on those who make $250,000 or more. Those are our business owners,” said Ellmers.

Geithner initially responded by saying that the administration’s planned tax increase would hit “three percent of your small businesses.”

Ellmers then said: “Sixty-four percent of jobs that are created in this country are for small business.”

Geithner conceded the point, but then suggested the administration’s planned tax increase on small businesses would be “good for growth.”

Clearly, Obama’s inner circle has been upping their daily allowance of STUPID pills. Increased taxes on small business would be “good for growth”? Are you kidding me?

Either this administration is grossly ignorant of how America’s economy works, or they’re actively hostile toward free enterprise. There’s no other explanation.

Our economy has been stagnant because entrepreneurs have been reluctant to expand and hire new workers. And that has been due to their uneasiness with the looming prospect of increased taxes and the heavy hand of government regulations. When government officials look to raid business profits as the antidote to runaway federal spending, business owners will pull back in order to minimize risk and shield their assets from governmental robber barons.

Cluebat: businesses don’t exist to provide politicians and bureaucrats with a bottomless account from which to draw funds at their discretion.

Sorry, Democrats. When American families and businesses have to cut back in order to make ends meet, you must do the same. You can’t simply steal more from your neighbors — under the guise of “making investments in the future” —in order to maintain the gravy train. It’s time to put our government on a crash diet.

Posted by FullMetalPatriot
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT

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