By Bob L.
This is true to a point, but the tax should be $500,000 dollars not $250,000 dollars because this puts small business right in the cross hairs of any thing that comes along, but money should be put back into the business, not in their pockets.
Look at what is happening to large companies, they are putting so much money into paying Executives outrageous wages, they can’t see that these companies are no longer profitable for any one, they are a died horse that will never survive until they take all that money and put it back into the company, lower their prices so people can buy their product, PEOPLE BUY EVERY ONE PROFITS, price people out, every one loses.
By Sam Youngman
President Obama told Americans in his weekly radio address that if Congress doesn’t act on his tax cut deal, they will see their taxes go up by $3,000.
Since announcing the deal with Republicans on Monday that would extend all the Bush tax cuts, Obama has rolled out support from elected officials from across the country, topped off by a surprise press conference by former President Clinton on Friday.
None of that, however, has stopped House Democrats from revolting against Obama, as the House Democratic Caucus voted on Thursday not to even allow a vote on the package.
In his address, Obama warned that if Congress doesn’t pass the deal by year’s end, Americans will see tax increases that could imperil the fragile economic recovery.
“That’s why I’ve been fighting so hard to cut middle class taxes,” Obama said. “And that’s why I brought both Democrats and Republicans to the table – to put together a compromise, and work through our differences, so we could get this done.”
The president repeated his disdain for extending the tax cuts for the wealthy, but he again dug in on his belief that the overall package is “a good deal for the American people.”
“It wasn’t easy, and it’s by no means perfect,” Obama said. “And as with any compromise, everybody had to live with elements they didn’t like.”
Obama acknowledged that Democrats are “uncomfortable” with parts of the agreement, adding that he is one of them.
“But at the same time, we cannot allow the middle class in this country to be caught in the political crossfire of Washington,” Obama said. “People want us to find solutions, not score points. And I will not allow middle-class families to be treated like pawns on a chessboard.”
- “Reid Porks Up the Tax Bill to Try and Placate Dems” and related posts (holycoast.blogspot.com)
- For W.H., upside in fighting Hill Dems (politico.com)
- Tax-cut deal aimed at winning Dem votes (abclocal.go.com)