Quote Originally Posted by Bryan2 View Post
Interesting take on the matter from someone at a different forum...


Let me see if I can take a little more unbiased shot at this:
Obama plan:
Raise taxes on the rich (over $250,000/yr in income) to pre-Bush tax cut levels while leaving Bush tax cuts on those making under $250k (from 33% to 36% on income over $250k). Why it will fail: It does not raise enough revenue to do anything. These taxes will raise $800 billion in the next 10 years while there will be a $13 trillion deficit in the same time. How republicans argue it: The increases taxes on small business owners and therefore they will not be able to afford to hire new people. Why republicans are wrong: Only 2% of small businesses owners make more than $250k/yr. Also, let's say you make $300k from your business, your taxes will only go up $200 a year (no k).
Another reason Republicans are wrong: No small-business owner goes out and hires a new employee because he can afford to, out of the goodness of his heart. If there is a need to hire someone, you hire them. If there isn't, you don't. Saving a few bucks on taxes has no bearing on that whatsoever.