Small business owners ... BOHICA!
By Neal Boortz
We don’t know the nature of the tax disagreements in the budget talks, but what I do know is that our tax cheat Treasury Secretary Timothy Geithner is advocating for tax increases on small business. No … that is not a joke. He told this to the House Small Business Committee on Wednesday of this week. This plan would be a part of the administration’s efforts to raise taxes on all American’s earning more than $250,000 a year.
In a back-and-forth between Geithner and first-term Republican Rep. Renee Ellmers, Ellmers points out that 64% of new net jobs created over the last 15 years were from small business. To which Tim Geithner replies that his plans to increase taxes would actually be “good for growth.”
Geithner: “No, that's right. I agree with that. But just to put it in perspective, it's important to recognize why are we doing this. You know, our deficits are 10 percent of GDP, higher than they've been since any time in the postwar period really. We have a big hole to dig out of, and we have to figure out how to do that in a way that's balanced, good for growth, fair to people as a whole.”
Uh oh … here we go with the “fairness” routine. When presented with the fact that small businesses create the majority of jobs in America, Tim Geithner’s response is that we have to do what is “fair to people as a whole.” You bet I have something to say about that on the show today. Fairness … give me a break.
Geithner: “We're not doing it because we want to do it, we're doing it because if we don't do it, then, again, I have to go out and borrow a trillion dollars over the next 10 years to finance those tax benefits for the top 2 percent, and I don't think I can justify doing that.”
You see, Tim Geithner, and big-government politicians are under this false liberal assumption that all money earned in the United States belongs to the government, and it is the government that decides how much of it you get to keep.
CNSNews: When Ellmers finally told Geithner that “the point is we need jobs,” he responded that the administration felt it had “no alternative” but to raise taxes on small businesses because otherwise “you have to shrink the overall size of government programs”—including federal education spending.
Oh no … not government programs! We can’t shrink government programs!