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http://online.wsj.com/article/SB1000...googlenews_wsj
This quote struck me:
"Democrats will claim that the tax increase will hit only 3% of small businesses, but the GOP will respond, accurately, that it will hit 50% of all small business income because 85% of small business owners are taxed on profits at individual tax rates. Voters are smart enough to know who creates new jobs in America, and it isn't people or businesses who don't make a profit. Americans have also relearned the hard way over the last 18 months that the government doesn't create net new employment."
So, 50% of small business income goes to 3% of small businesses - isn't that just another way of saying that all the income in this country is going to to very top, which is contributing to the sense of unfairness that our insider-rigged economy is fostering? And allowing the tax cuts to expire won't actually hurt a large number of people?
Republicans seem okay with the massive 10-year cost to the budget of extending the Bush cuts, but blast Democrats for huge deficits. I've run out of buffer for Republican economic cognitive dissonance. Not that Democrats don't induce their share too...
This quote struck me:
"Democrats will claim that the tax increase will hit only 3% of small businesses, but the GOP will respond, accurately, that it will hit 50% of all small business income because 85% of small business owners are taxed on profits at individual tax rates. Voters are smart enough to know who creates new jobs in America, and it isn't people or businesses who don't make a profit. Americans have also relearned the hard way over the last 18 months that the government doesn't create net new employment."
So, 50% of small business income goes to 3% of small businesses - isn't that just another way of saying that all the income in this country is going to to very top, which is contributing to the sense of unfairness that our insider-rigged economy is fostering? And allowing the tax cuts to expire won't actually hurt a large number of people?
Republicans seem okay with the massive 10-year cost to the budget of extending the Bush cuts, but blast Democrats for huge deficits. I've run out of buffer for Republican economic cognitive dissonance. Not that Democrats don't induce their share too...
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