Here’s an interesting video. (H/T Ari)
See that guy? He’s your potential boss. Stop messing with this business and maybe he’ll hire you.
Tag Archives: Small Business
Senate Democrats block pro-small business amendment
From The Hill. (H/T ECM, Marathon Pundit)
Excerpt:
The Senate on Monday night defeated two amendments designed to ease the tax-filing requirements for small businesses.
Senators voted 61-35 — six votes short of the necessary 67 — to reject an amendment by Sen. Mike Johanns (R-Neb.) that would strip a provision from the new healthcare law that requires businesses to report supply purchases of $600 or more with a single vendor. Likewise, the chamber voted 44-53 to defeat Sen. Max Baucus’ (D-Mont.) amendment, which would accomplish the same provision but is unpaid-for. That amendment also required 67 votes.
At issue is a section of the new healthcare law that requires businesses, charities and state and local governments to file 1099 reports for all transactions above $600 per year. The votes also represented a noteworthy showdown between Johanns and Baucus, who presented a similar idea but did not fund it through offset spending cuts.
Johanns said his approach was wiser since it was funded through unspent federal monies, directing the federal Office of Management and Budget to cut $39 billion in funds that would have been generated by the 1099 mandate.
The reporting requirement was introduced by the Obama administration.
If you force businesses to waste their time on paperwork, they have less to make money, and that means less money for hiring people.
Did Obama keep his promise to not raise taxes on the middle class?
The non-partisan libertarian Cato Institute explains that Obama broke his promise not to raise taxes on the middle class.
Excerpt:
How many times have you heard the president and the congressional Democrats say Americans who make less than $200,000 a year have not had, and will not have, any of their taxes increased? Unfortunately, it is not true, and it is likely to become a whole lot worse.
The 111th Congress has already enacted $352 billion in net tax increases and may, in the upcoming lame-duck session, enact the largest tax increases in history, which will hit every man, woman and child — as well as every business in America. The good folks at Americans for Tax Reform (ATR) have put together the data on what the current Democrat-controlled Congress has done already. I have summarized their analysis in the accompanying table.
Here is table:
| Net Change in Taxes 111th Congress (in billions of dollars) |
||
| Legislation (bill number) |
Gross Tax Cuts Enacted | Gross Tax Increases Enacted |
| H.R. 2 S-Chip | 0 | 65.5 |
| H.R. 1 “Stimulus” | 217.6 | 0 |
| H.R. 3590/4872 “Obamacare” | 144.0 | 652.2 |
| H.R. 5297 “Small Business” | 12.0 | 8.0 |
| Totals | 373.0 | 725.7 |
He continues:
The tax increase of $725.7 billion dwarfs the tax cuts of $373 billion, leaving a net tax increase of $352 billion. But it gets worse. Just $107.6 billion of the tax cuts are permanent — the rest are temporary — but all of the $725.7 billion increases are permanent.
The S-Chip bill was funded by an additional $65.5 billion in tobacco tax increases. These increases are paid primarily by lower-income people. Obamacare is funded with a variety of individual and employer mandates, excise tax increases and fees, including a tax on “tanning salons,” adding up to $652 billion in tax increases, before deducting $107 billion in “exchange credits” and $37 billion in small-business tax credits. The vast majority of these tax increases fall on middle- and lower-income people. As with all of the revenue estimates prepared by Congress’ Joint Tax Committee, most of the behavioral effects of these tax changes are ignored — e.g., how many tanning-salon customers will now opt for the sun rather than pay the tax?
The president and most congressional Democrats have been claiming they will make sure no one making less than $200,000 per year will face a tax increase when all of the “Bush tax cuts” expire on midnight Dec. 31. Given they have not been truthful about the tax increases they already have enacted, why should anyone believe these new claims?
Democrats don’t cut taxes, they raise them. Democrats don’t reduce spending, they increase it. Democrats don’t enable businesses to create more jobs, they attack businesses and we get fewer jobs. Those are the facts.
WINTERY KNIGHT 