Even if cutting payroll taxes is a good idea (I’m not opposed to a permanent cut in both the employer and employee share of payroll taxes), President Obama’s jobs plan will call for increasing income tax rates to pay for cutting payroll taxes.
Bad, bad idea. Despite left-wing assertions, these tax increases will impact a significant amount of small businesses. According to the Wall Street Journal, 48% of sole proprietorships, partnerships, and S corporations reported incomes above $200,000.00 is 2007. We’re supposed to believe these companies will feel no impact whatsoever from a top marginal rate of 48.8% (or whatever the administration ends up proposing)?
President Obama should look at his own state and see the impact tax increases had on employment.
Tags: marginal rates, more bullshit, obama jobs plan, tax increases
The Blog For Truth, Justice, & The Josh Way 
October 10, 2011 at October 10, 2011 |
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