From my present vantage point, I view this as political posturing. None of it will actually happen. ~J
by Michael McAuliff at Huffington Post
Posted: 04/17/2012 6:59 pm
Updated: 04/17/2012 7:08 pm
WASHINGTON — In the second major shot in Washington’s ideological battle over taxes this week, the White House on Tuesday slammed a small-business tax-cut proposal in the House as a handout for the “fortunate” and threatened to veto it.
The Small Business Tax Cut Act of 2012, sponsored by House Majority Leader Eric Cantor (R-Va.), would slash taxes on the adjusted gross income of as many as 22 million small businesses — those with fewer than 500 employees — by as much as 20 percent for one year. It would add $46 billion to the deficit.
The House is set to consider the bill on Thursday. On Monday, Senate Republicans blocked the Buffett Rule, a measure from the ideological opposite end of the spectrum, which aimed to ensure that multimillionaires and billionaires paid at least a 30 percent tax rate.
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Related articles
- Cantor: Obama wants to ‘micro-manage’ small businesses (thehill.com)
- Preview of dueling tax votes (politico.com)
- ‘Buffett rule’ tax plan fails to advance in Senate (sfgate.com)
- Why Eric Cantor’s $46 Billion Tax Boondoggle Will Cause A Real Headache For Small Businesses (thinkprogress.org)
- Rep. Eric Cantor proposes H.R. 9: Small business identity theft disguised as a tax break (washingtonpolicywatch.org)
All of these Masters of the Universe from the Republican and Democrat sides need to quit trying to tweak a system that is broken, wasteful and stupid.
We need a flat tax, clarity, no waste, No GSA, no EPA, No Fed etc. Let the individual keep more of his money, break up large companies and large banks. More individual responsibility, more local government and way less national governments. More belief in two parent families that have a Mommy and a Daddy and less celebration of single parenthood and non traditional parents.
If we truly are to ascend, I can’t imagine that the heavenly goal will be to watch soap operas all day while kids eat three meals at school and obesity is the norm. If it doesn’t include people taking care of themselves and others, it will sound like adult day care for the unawake and the uncaring.
We’re better than this.