Less than 2% of small businesses would be affected by ending Bush tax cuts for top 2%, Mitch!

[flpoljunkie]

David Gregory is pressing Mitch McConnell about how extending the tax cuts for those in the top 2% would be paid for. McConnell keeps dodging the question saying we shouldn't raise taxes in a recession. Gregory keeps bringing up Alan Greenspan saying we should not renew unpaid tax cuts. Too bad Gregory can't think to ask McConnell, don't you think Greenspan knows we are still trying to climb out of a deep recession?

McConnell gave the same dodge, as well about small business income--saying half of it would be affected. That's a lie, as well. Only 3% of all small business income would be affected. And, Mom and pop small business represent less than 2% of small businesses.

For their part, Republicans do not emphasize the impact of extending the tax cuts for wealthy individuals. Rather, they say Mr. Obama is about to spring a big tax increase on many small-business owners who file their taxes as individuals. Analyses from the Joint Committee on Taxation and the Tax Policy Center, a nonpartisan research organization, show that less than 3 percent of filers with small-business income pay at the top two income tax rates, and many of those are doctors and lawyers in partnerships.

http://www.nytimes.com/2010/08/11/us/politics/11tax.html?_r=2&hp

The fact remains that fewer than two percent of small businesses and less than three percent of people with any business income whatsoever will see a tax increase if the top two income tax brackets reset to the 2001 level, as President Obama has proposed. As The Wonk Room explained, small businesses are actually hesitant to hire because of weak economic conditions and lack of demand, not the political climate as McMahon claims.

http://thinkprogress.org/2010/08/20/mcmahon-taxes/

[babylonsister]

1. How hard did Gregory press, do you know? I couldn't stand

to watch this flaccid old fart who lies with impunity.

[flpoljunkie]

3. Gregory tried to press McConnell, but McConnell was relentlessly on message

Too bad, Gregory does not know the facts about small business tax cuts. What are researchers for, anyway!

[bmbmd]

2. By my estimation,

This will take about an extra two grand out of my pocket next April. Seems to be a small price to pay to help right the American economy. Call it patriotism.

[flpoljunkie]

4. And, a Texas patriot, as well! 'Good on you!' as Molly Ivins might have said.

[nevergiveup]

5. I don't think your feelings

are unique among folks in higher income brackets but unfortunately they don't speak out much. I commend you for your willingness to speak out and for your genuine love of this country. A few years ago I was in a very high tax bracket and I always felt terribly guilty whenever I was tempted to bitch about taxes.

[DailyGrind51]

6. People know what they make and what they pay in taxes!

Most of the small businesspersons in my neighborhood can barely afford to pay utility bills!

[HughBeaumont]

7. K & R.

The stupidity on the Repuke side needs to be called out on this issue repeatedly. Sometimes I fear that the internet is the only sane voice we have out there. After all, it's not like you're going to hear this sort of rebuttal or questioning from the steppin-fetchit, head-nodding dickheads at CNBC, or any other major cable outlet, for that matter.

[lib2DaBone]

8. If tax cuts for the wealthy create jobs... wouldn't the jobs be here already?

Wasn't it the Republicans who DEMANDED that everything be paid for.. deficit neutral?

Gee.. I wonder how this could have slipped by David Gregory?

More Supply-Side reasoning from Mitch McConnel... the perfect reasoning to cover for Theft and corruption.. works every time..

[DrToast]

9. Yep, the tax cuts have been in place for 10 years. Where are the jobs?

I wish more people would ask these clowns that.

[4lbs]

10. That's what I mentioned in another thread.

Since the Bush tax cuts were the largest tax cuts to the wealthy in history, wouldn't tens of millions of new jobs have been created?

If tax cuts for the wealthy truly created jobs, we should have had much more than the 22 million new jobs created during the 1990s under Clinton.

All the tax cuts did was plunge the country further into debt.

[DailyGrind51]

11. I watched ABC because I knew "Turtle" and Armey were going to be on NBC!