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Posted: 8:39 a.m. Wednesday, July 28, 2010
By Neal Boortz
Here are two back-to-back headlines from Reuters:
White House: Obama backs letting tax cuts on rich expire
Obama pushes Congress to pass small business plan
Don't you see the obvious disconnect here? I cannot, for the life of me, understand why these people in Washington, and why Americans around this country, don't get it. I've ranted endlessly on the radio and on this website about the fact that small business owners - the people providing from 7 to 8 out of ten new and existing private sector jobs in this country -- are the very people that Barack Obama wants to hit with tax increases. What about this is so difficult to understand? I know that government education sucks. I know that logic isn't taught in most government schools. And I also know that the use of logic in an argument has been called racist ... but come on people! If you can figure out a McDonalds menu you have the juice to figure out that Obama is proposing raising the taxes on the very people he wants to create all of these new jobs. It makes absolutely NO sense on ANY level.
There were 30 million tax returns reporting small business income in 2008 (the last year for which we have data). That means that these people report their business earnings on their personal income tax forms. If they and/or their business earns more than $200,000 in a year, their taxes will absolutely go up in 2011. Yet Obama then pushes this small business plan to create a $30 billion fund to invest in community banks to bolster lending to small businesses. Some are calling this small business plan the "Son of TARP." That remains to be seen, but I'll give you a hint: these banks won't have any businesses knocking on their doors if the government continues to punish their wealth. These business owners are being forced to pay more in taxes and provide more in benefits to workers .. yet Barack Obama believes that the solution is to invest in community banks to offer lending?
This is what we get when we put a Community Organizer in the White House.
Barack Obama is going to appear on The View today. I just feel sorry for the poor sap that will have to wipe all the slobber off him after the show is over.
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