Dems Catch Boehner Admitting: "Obviously, The Top 3% Have 1/2 The Gross Income"

[kpete]

Did Boehner make key concession about small businesses and tax cuts for rich?

As you know, John Boehner made big news yesterday on CBS when he seemed to allow that he would support it if Dems held a vote on whether to extend just the tax cuts of those who make less than $250,000.

And that's certainly interesting. But there's another key claim Boehner made that also deserves some attention: He seemed to allow that the income of only three percent of small business people would be impacted if the Bush tax cuts for the rich expire.

I hear Dems are getting ready to jump on this part of Boehner's interview. They're going to argue that it undercuts the claim of many Republicans that extending the tax cuts for the rich would have an adverse impact on many small businesses, creating widespread uncertainty for them.

In the exchange, Bob Schieffer of CBS asked Boehner to respond to a recent report by the nonpartisan Joint Committee on Taxation finding the three percent figure. And then...

BOB SCHIEFFER: Do you quarrel with that figure? Is that a right figure or a wrong figure?

BOEHNER: Well, it may be three percent, but it's half of small business income. Because, obviously, the top three percent have half of the gross income for those companies that we would term small businesses. And this is why you don't want to punish these people at a time when you have a weak economy.

more:
http://voices.washingtonpost.com/plum-line/2010/09/boehner_concedes_only_three_pe.html

[formercia]

1. Now they want to raise the cutoff to a Million Dollars.

How many here could survive on $250K a year after taxes? Anyone couldn't?

[PJPhreak]

7. I could survive on 1/20th of $250,000 comfortably!

12.5k in my part of the US would keep everything paid tho there would'nt be a lot left over.

Fuck John "Richard Cranium" Boehner

[KansDem]

2. "...And this is why you don't want to punish these people at a time when you have a weak economy."

Boehner, we tried this already. Remember "trickle down?" Remember "Reaganomics?"

We gave the wealthy even more wealth under the pretense that they would invest in America. More jobs, more industry, and more business. And more prosperity...for all.

And what happened? The wealthy took their new-found swag and squirreled it away in secret off-shore tax havens. They invested it in foreign companies and foreign countries.

We gave them more wealth and they gave us the finger...

We tried it already...and it didn't work.

So, STFU about this failed economic theory...

[DCKit]

3. ^ What you said. K&R n/t

[hfojvt]

4. hey now, that's not fair

Many of them 'invested' in American-made credit default swaps and other financial derivatives.

Some of them also gave generously to American "charities" like the Peter G. Peterson Foundation (dedicated to eliminating Social Security), the Cato Institute, the Heritage Foundation, and Americans for the Prosperous, among others.

[Beartracks]

5. Repubs don't have memories, remember?

The rich don't need to be bailed out. Again.

GOP, stop trying to outsource/offshore our economy. It doesn't work that way.

------------------------

[HughBeaumont]

6. Huh, Failure never stopped a great Republican wealth transfer scheme before . . .

. . . why should it now or in the FUTURE???