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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
taxreformer -
"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
taxreformer -
Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
taxreformer -
Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
taxreformer -
9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
taxreformer -
.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
taxreformer -
"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
taxreformer -
Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
taxreformer -
The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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Increasing Taxes Hits Small Business Job Creators
Increasing the top tax rate impedes economic growth preventing small businesses from expanding out of this recession.
This content is provided by the Americans for Tax Reform Foundation.
Taxing small business to pay for more government is the policy equivalent of “you didn’t build that.” Increasing taxes on the top bracket—$200,000 single; $250,000 married—hits small businesses, sole proprietorships and family farms that file as individuals or “pass through entities.”
In 2011, the nonpartisan Joint Committee on Taxation estimated that this plan hits 750,000 entities. A more recent update in their model concludes that, under this plan, 940,000 small businesses will pay higher taxes.
The economy grew 2.0 and 1.5 percent in the last two quarters. Growth in real nonresidential fixed investment declined for the third straight quarter. RNRFI is an indicator of how much businesses spend on new or improved facilities and technology from quarter to quarter. It is an important measure of how much the private sector is growing and planning to grow since the new equipment is used to expand operations, hire more people and increase overall prosperity. It seems, then, that the private sector is not “doing fine.”
So the economy is in a stall, businesses are investing less and less in pro-growth measures like expanded production capacities and hoarding cash. Meanwhile, Congress is talking about raising taxes on 940,000 small businesses which comprise 75 percent of all small businesses in the country. As Americans for Tax Reform noted, the top 3 percent of small businesses employ a majority of everyone who works for a small business. Raising taxes on these businesses in a good economy is bad policy, in a recession it is a recipe for economic contraction and further job loss.
