Argument: Expiring Bush tax cuts for rich would burden small businesses

Issue Report: Expiring Bush tax cuts for the wealthy in 2010


“Editorial: Extend the Bush tax cuts, temporarily.” Dallas Morning News. August 2, 2010: “Obama’s proposals could put thousands of small-business owners in a tax bracket higher than America’s corporate giants. The top tax rates would rise from 33 and 35 percent today to 36 and 39.6 percent in January. The millions of small-business owners who file income taxes as individuals could pay rates higher than Exxon Mobil or Goldman Sachs. Where’s the wisdom in that when small businesses create most American jobs – and need help, not hindrance?”

John Boehner, R-Ohio: “With all due respect to the vice president, Americans know we won’t solve the deficit until we cut spending and have real economic growth, and we won’t have real economic growth if we raise taxes on small businesses. As a former small-business owner myself, I can tell you that’s going to destroy more jobs and make it harder to balance the budget, not easier. To get our economy moving again, we need to rein in government spending, stop the tax hike, and end the uncertainty for our nation’s small businesses so they can get back to creating jobs.”[1]