Jul 09 2012
- With over 23 million Americans out of work or underemployed, the president is now calling for a massive tax increase on America’s job creators.
- Today’s economy is weaker than it was in 2010 when President Obama agreed with Republicans that raising taxes would hurt the economy.
- President Obama has already broken his promise not to raise taxes on the middle class.
Despite the stalled economy, the president wants to raise taxes on job creators:
- President Obama’s tax increase will hit nearly 1 million businesses.
- The job creators hit by President Obama’s tax hike employ nearly 25 percent of the national workforce.
- The president’s tax would apply to over half of all flow-through business income.
The president once agreed that all tax rates should be extended:
- In 2010, President Obama said allowing the tax rates to increase “would have been a blow to our economy.”
- Also in 2010, President Obama said that allowing taxes to increase would mean “the economy would grow less.”
Today’s economy is weaker than it was in 2010 when the president extended all rates:
President Obama has already broken his promise not to raise taxes on the middle class:
- More than 75 percent of families who will pay the ObamaCare mandate tax make less than $120,000 per year.
The president should work with Congress to prevent this tax hike on job
creators and extend all the tax rates while we focus on
fundamental tax reform.