President Obama’s Taxing Proposal On Small Businesses “President Obama continues to tout liberal studies calling for more tax hikes and more government spending. We've been down that road before – and it's led us to 41 straight months of unemployment....
BigNews.Biz - Aug 02,2012 - President Obama’s Taxing Proposal On Small Businesses
“President Obama continues to tout liberal studies calling for more tax hikes and more government spending. We've been down that road before – and it's led us to 41 straight months of unemployment above 8 percent. It's clear that the only plan President Obama has is more of the same. Mitt Romney believes that lower tax rates and less government will jump-start the economy and create jobs.” – Ryan Williams, Romney Campaign Spokesman
President Obama Will Discuss His Tax Plan During His Ohio Campaign Stop:
President Obama Is Campaigning In Ohio On His Tax Hike Plan. “Dueling with Republicans on taxes, President Barack Obama is urging the House to pass a tax cut for households earning less than $250,000 a year and drawing a bright line with rival Mitt Romney on a pocketbook issue for voters.” (Ken Thomas, “Obama Pitches Tax Cuts As Pocketbook Issue In Ohio,” The Associated Press, 8/1/12)
President Obama’s Attack Is Based On A New Report From The Liberal Tax Policy Center. “It's an argument that Obama often makes, but as he speaks in Mansfield, Ohio, it will come with the added weight of a new report from the nonpartisan Tax Policy Center -- which is affiliated with the Urban Institute and the Brookings Institution -- that backs up his claim.” (Jennifer Epstein, “Obama: Romney 'Asking You To Pay More So That People Like Him Can Get A Tax Cut',” Politico, 8/1/12)
What Won’t President Obama Mention In Ohio? The 2.1 Million Business Owners Who Would Pay Higher Taxes Under The Obama Plan Or The 710,000 Lost Jobs:
NFIB’s Study Found That President Obama’s Tax Hikes Would Subject 2.1 Million Business Owners To Higher Taxes And Would Jeopardize 710,000 Jobs. “Researchers determined the plan would actually subject 2.1 million business owners to higher rates; specifically, those who pay pass-through taxes, like most partnerships, LLCs and S-Corporations. The result, less capital in the hands of business owners and diminished labor supply, would cost the United States an estimated $200 billion in economic output and 710,000 jobs.” (J.D. Harrison, “Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns,” The Washington Post, 7/17/12)
•“Over Time The Economy Would Be 1.3 Percent Smaller And There Would Be 710,000 Fewer Jobs.” “The study … finds that over time the economy would be 1.3 percent smaller and there would be 710,000 fewer jobs. More than 72 percent of S corporation income is earned by the half-million S corporation owners who pay the top two rates. Increasing individual rates directly impacts small businesses organized as S corporations, partnerships, LLCs and sole proprietors, also known as ‘pass-through’ businesses. NFIB research shows around 75 percent of all small businesses are organized in such a manner.” (NFIB, Press Release, 7/17/12)
President Obama’s Tax Plan “Would Hurt Small-Business Job Creators In Particular.” “New research, released today by the National Federation of Independent Business, shows that allowing tax relief on the top individual rates to
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