December 3, 2010- “It’s astounding that Senators from New York and New Jersey would compare people who want to prevent a tax increase to terrorists.” said Brad Dayspring, spokesperson for incoming House Majority Leader Eric Cantor. “In the 10 seconds it took to utter the phrase, they effectively revealed why people don’t trust Democrats on issues of fiscal or national security. They just don’t get it.”
December 2, 2010Chief Deputy Whip Joe Crowley took to the House floor and boldly claimed that the Democrats’ tax plan cuts taxes for American families and small businesses. Except that it doesn’t cut taxes for a single person. The choice is simple, on January 1st one of two things will occur. Taxes will remain at their current rate or taxes will be going up, and if the Democrats have their way, taxes are going up.
P.S. Mr. Crowley’s prop and dog comment shows how outrageously out of touch Democrats have truly become.
TRANSCRIPT: This Democratic Bill will cut taxes for every American who earns up to $250,000. This bill will eliminate the marriage penalty permanently, for the first time in Congress’ history. This bill will cut the cost of college for young people in America. This bill will cut taxes for small businesses. Instead the Republican plan will increase taxes for every American who makes less than $250,000 a year, because unless we do it their way, there will be no bill. So exactly who will the Republicans try to help in this legislation? This little dog…. (Rep. Crowley presents a picture of the late Leona Helmsley & her dog “Trouble”) “Trouble,” that’s who. Trouble is Leona Helmsley’s dog who inherited $12 million. Under the Republican plan if Trouble doesn’t get a tax cut, than nobody else should. Under the Republican plan America will go to the dogs.
December 2, 2010Moments ago on the House floor, Democrat John Yarmuth defended Democrat efforts to raise taxes on small business people. The Congressman noted that he comes from a family of small businesspeople and that tax rates have no effect on whether a business expands.
In other words, Mr. Yarmouth is confirming that small business people (as well as his own family) will face a tax hike – something that Democrats have denied time and time again.
VIDEO: http://www.youtube.com/watch?v=txvW6ilnHno
TRANSCRIPT: I love the fact that people talk about job-killing tax hikes as if every small business is going to make a decision based on what their personal tax rate is. I come from a family of small businesspeople. My father was a small business person who built a very large company. I have two brothers who are small businessmen. I have a sister who is a small businessperson. I ran a small business. Not one of us ever made a decision about what we would do in our business based on whether a few more percentage points would come out of our net income.
December 2, 2010- A number of factors—including pending tax legislation, the ongoing credit crunch, and changes that owners made during the recession to stay afloat—are contributing to entrepreneurs' restrained approach to hiring. "Like a lot of investors, they're sitting on the sidelines," says Raymond Keating, chief economist for the Small Business & Entrepreneurship Council, a nonprofit advocacy group in Oakton, Va.
- Other small-business owners are hiring cautiously because they lack sufficient sources of funding. For start-ups, these include such tapped-out options as home-equity loans and credit cards. And for established companies, bank loans remain sparse. The SBA backed $16.84 billion in loans in fiscal 2010 ending Sept. 30, a 30% increase from 2009, but an amount well below the $20.61 billion in loans it backed in 2007.
- "Small firms essentially rely very heavily on the banks for lending as opposed to big companies which can issue equity on the public markets, engage in securitizations and other complex financial transactions," says Josh Lerner, an investment banking professor at Harvard Business School. "Given this, it's not surprising that we've seen very limited evidence of job growth in terms of hiring by small businesses in the aftermath of the financial crisis."
December 2, 2010Dem Leadership Faces Opposition On Tax Vote
A partial list of Dems who may vote against extending the middle class tax cuts: Heath Shuler, Jason Altmire, Gary Peters, Glenn Nye, Dan Boren, and Joe Donnelly.
These are Dems who want to see all the tax cuts extended. The question is whether they will oppose a middle class tax cut as a result.
Also: It doesn't help Dems when you have Reps. like Rush Holt out there arguing that some families over $250,000 "don't consider themselves rich."
