If ever there was a wrong way driver on a one way street, then this must be it!
June 24, 2011 Wash DC – Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to “shrink the overall size of government programs.”
The administration’s plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per year–including businesses that file taxes the same way individuals and families do.
Geithner’s explanation of the administration’s small-business tax plan came in an exchange with first-term Rep. Renee Ellmers (R.-N.C.). Ellmers, a nurse, decided to run for the U.S. House of Representatives in 2010 after she became active in the grass-roots opposition to President Barack Obama’s proposed health-care reform plan in 2009.
Treasury Tiny Tim has been reportedly raiding – excuse me, borrowing – from the Fed workers pension fund accounts for awhile. Wonder why the Fed Unions are quiet about it?
Were I a Fed employee, I’d be squawking loud and long.
J, The Fed unions aren’t squaking because they don’t think they’ve lost anything…they’re “on the team”…lol.
Silly dem supporters who think this tax the rich stuff stops with the rich are delusional.
There’s a reason we have been hammered with this “tax the rich” slogan as well as schemes like value added taxes and cap and trade. Think about it. The smoking police have ruined the stream of tax revenue that was once generated by tobacco taxes. Greenies have been systematically attacking big oil for a number of years…as they succeed (and that is the plan) a huge tax revenue stream will go as well. Keynesian economic policies, ever expanding government programs, and rabid regulators have made doing business in America risky and shrunk the revenue base.
When they run out of “rich peoples money” they’ll come after more from anyone with a dime to spare…oh wait, I think that’s what they’re doing now.
The Washington big spenders have “big plans” for America…big expensive plans.