Wednesday, October 17, 2012

Obama is destroying small business. (video)

I can't say this enough. Obama the other night told us that he has cut taxes on the middle class. I'm calling Bull-s**t on that one. First, he promises to extend the Bush tax-cuts. Extend. These cuts have been around for eleven years. This is not a tax cut. Other "tax-cuts" are temporary.

This from National Review:
The president is indeed correct that the average middle-class family has seen its taxes reduced by $3,600, but that’s over four years of his administration. The combination of the (temporary, now expired) Making Work Pay tax credit in the stimulus (up to $400 for individuals and $800 for married filers, over two years) and the payroll-tax cut ($1,000 a year for the average family for two years now) does add up to $3,600. But not least because people think of tax cuts as affecting their income year-to-year, not a sum that the government’s dished them over time, the $3,600 number is a bit disingenuous.
The famous eighteen tax-cuts for small business? One time credits and rebates. That'll fix the economy!
His 18 small-business tax cuts are also less than impressive, as they’re not rate cuts that improve incentives, but mostly one-time credits and rebates (most of them are part of the stimulus bill, and per definitionem temporary). And further, while Romney and Republicans are as responsible for this as the president, there’s no singular economic virtue to small businesses, and no reason to offer them tax cuts unavailable to all businesses (Veronique de Rugy has written about how this should be considered just another corporate-welfare category).
In the mean-time, the leviathan ObamaCare offers us the 20 new separate taxes spread out over business and humanity.

I've always known that politicians were liars. The Narcissist in Chief, the most of all.

I don't get that feeling from Mitt. I think he'll do the best he can to get the country running again. He's run businesses in the private sector and made them succeed. Obama was a community organizer. That's all he ever did.

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