What The Republicans Are Against!

Recently, the Congressional Republicans stated that they are for the Small businesses in America, yet they have been consistently opposed to the Obama's administrations efforts to cut the taxes small business owners have to pay.

The President has already signed into law eight pieces of powerful legislation designed to help small business. They are:
1. A small business health care tax credit.
2. A tax credit for hiring the unemployed.
3. Bonus depreciation tax incentives to support new investment.
4. 75% exclusion of small business capital gains.
5. Expansion of limits of small business expenses.
6. A five year carryback of net operating losses.
7. To allow small businesses better flexibility in their investments, a reduction from 10 down to 7 years on built in gains holding period.
8. A temporary small business estimated tax payment relief so small business can keep more of their cash on hand.

Guess what, the Republicans voted against all of that. They are not pro-small businesses . . . they are ANTI-OBAMA! The high income taxpayers they are fighting to get tax relief for are hardly what most Americans think of as "Small Businesses." While Congressional Republicans' rhetoric would imply they are fighting for "Start-ups", mom-and-pop store owners and aspiring entrepreneurs, they count as "Small Businesses" making "Small Business income" any and all high income taxpayers with any type of partnership income, sole proprietor income, or "S" corporation income. Thus, under their definition, the following are all counted as small businesses:
>Each partner of a major corporate law firm
>Billionaire hedge fund Managers
>Over 50% of the top 400 taxpayers with the highest adjusted gross income (according to the IRS--a group that averaged $344 million each in income in 2007)

And here is more;
While Republicans claim that their push for high income tax relief is motivated by concern for small business, almost 85% of the tax relief they want goes to those making over $1,000,000. Those are not small businesses.

Obama wants to lend support to creditworthy small businesses still struggling to access the credit they need to expand and hire.

Republicans are holding middle class tax cuts, your tax cuts, hostage so they can borrow $700,000,000,000 to pay for the tax cuts that the Republicans want to give to the richest 2% of earners, those are the people that contribute to the Republicans campaign.