If we are so easily distracted by self-serving political rhetoric, we are not only going to see our money, but our freedom, increasingly taken away from us by slick-talking politicians, including our current slick-talker-in-chief in the White House.
-Thomas Sowell
http://lewrockwell.com/sowell/sowell104.html
Good one, Red. Sowell is right on top of it. It's a tough time to be a business owner and entrepreneur in America. Surveys show small business owners are struggling, and they are not expanding or hiring because of tax and regulatory uncertainty. Here in Surprise I can count the business's that went belly-up this past year on my fingers and toes. It comes down to federal agencies, from Health and Human Services to the Environmental Protection Agency, that are regulating them to death. And just last week, Obuma announced his latest economic plan was to hit job creators with a tax increase.
Obuma's plan to raise taxes on earnings above $200,000 ($250,000 for joint filers) would hit 1.2 million small-business employers who pay their taxes through the individual income tax, known as flow-through businesses. These businesses that are creating jobs earn almost all 91 percent of the income earned by flow-through employer-businesses.
The new tax increase could be equivalent to one employee per small business. According to calculations by The Heritage Foundation's Center for Data Analysis, ..."the average American with $250,000 or more in income can expect an average $24,888 tax increase next year under Obama's proposed policies." That $24,888 figure is often enough for a salary. So Obuma could be putting about 1.2 million jobs... perhaps even more... at risk with this tax hike. Hitting private job creators while advocating more stimulus spending and government jobs. That's Obuma's plan for the economy.
Small businesses and markets fund the government, not the other way around. The reason why we have the capital to seize for building roads, bridges, and other infrastructure is because of the wealth created by free markets. Without that wealth, the government could not sustain that infrastructure, and without the economic expansion and employment provided by risk-taking entrepreneurs, we wouldn't need them at all. Obumanomics is completely backwards, which is why it's not terribly surprising to see the economy heading in that direction, too. Obuma is out to ruin the United States... there is NO DOUBT in my mind about that!
...Warph