Every Republican speaking now against the middle class tax cut is repeating the 'small bidness' lie!

[flpoljunkie]

The House is now debating for one hour before the vote. They can only do this because our media does not do its job! I am waiting for a Democrat to set the record straight. Representative Levin just set him straight by saying 97% of small businesses will not pay any more taxes, but will receive a tax cut under Obama's plan. Levin just repeated this in response to the last Republican liar.

From Five Myths about the Bush Tax Cuts:

2. Allowing the high-income tax cuts to expire would hurt small businesses.

One of the most common objections to letting the cuts expire for those in the highest tax brackets is that it would hurt small businesses. As Sen. Orrin Hatch (R-Utah) recently put it, allowing the cuts to lapse would amount to "a job-killing tax hike on small business during tough economic times."

This claim is misleading. If, as proposed, the Bush tax cuts are allowed to expire for the highest earners, the vast majority of small businesses will be unaffected. Less than 2 percent of tax returns reporting small-business income are filed by taxpayers in the top two income brackets -- individuals earning more than about $170,000 a year and families earning more than about $210,000 a year.

And just as most small businesses aren't owned by people in the top income brackets, most people in the top income brackets don't rely mainly on small-business income: According to the Tax Policy Center, such proceeds make up a majority of income for about 40 percent of households in the top income bracket and a third of households in the second-highest bracket. If the objective is to help small businesses, continuing the Bush tax cuts on high-income taxpayers isn't the way to go -- it would miss more than 98 percent of small-business owners and would primarily help people who don't make most of their money off those businesses.

http://www.washingtonpost.com/wp-dyn/content/article/2010/07/30/AR2010073002671.html

[flpoljunkie]

1. Now Cantor is whining about the 'political gamesmanship' since their meeting with Obama.

Cry me a river, Cantor!

[HowHasItComeToThis]

9. CANTOR IS A CANTOR FOR THE REPULSIVES

[flpoljunkie]

2. 'Once again, 97% of small businesses will receive tax cuts, not tax increases.' Those are the facts!

-Representative Sandy Levin. Way to go!

[Botany]

3. Of course they repeat the lie because that is what they are good @.

What they don't say is that vast vast majority of small business owners earn less than
$250,000 per year.

Small business gross income - the sum of overhead, materials, fees, taxes, insurance, payroll, and ? = gross net profit = X

X - # of owners salaries + bonuses = REAL YEARLY INCOME FOR THE SMALL BUSINESS OWNER(S)

If you have a good accountant you can reinvest a certain % back into the business (which makes real wealth aka value of the
business and it can help make new jobs too) and then the owner's real yearly salary can be less than $250,000

This does not cover phony small businesses which are just phony such as Bechtel, Koch Industries, & Price Waterhouse ......

[denverbill]

4. Why the hell are Dems incapable of framing this? These a SPECIAL tax cuts for the wealthy.

The wealthy get the same tax cuts as the middle class and poor that the Dems are proposing. But only the wealthy get the cut Republickers are demanding.

How about THIS for a compromise? Extend the same tax reduction the wealthy are getting all the way down the tax bracket. If the top rate is going from 35 to 31 under Bush's plan, drop the middle class rate from 28 to 24 and the lowest rate from 10 (or whatever) to 6.

[flpoljunkie]

5. If your AGI is $250,000 you are in the top 1.5% of income earners.

That is a very generous definition of 'middle class,' yet it's not enough for the Republican lackeys for the very wealthy--the millionaires and billionaires.

[flpoljunkie]

6. All this Republican whining about those who earn >$250,000 when they'd pay only 4.9% more on taxable

income over $250,000!

Makes you kinda sick, doesn't it?

[Liberal_Stalwart71]

7. Not to mention the fact that Democrats have passed at least 10 different small business bills

in the last two years, separate from the stimulus bill.

These mutherfuckers are straight-out LYING!!!

[flpoljunkie]

8. Pelosi pointing out how more jobs created this year than in all 8 Bush years. Go, Nancy!

She is making the point that the Bush tax cuts on the high end did not and does not create jobs.

[Botany]

10. But will the media cover the truth?

Bottom line we lost jobs after W's tax cuts for the rich and started to gain jobs after
Obama's stimulus program

[paparush]

11. No shit. They've hoarded their un-earned wealth at record levels.

[jenmito]

12. You can thank Jane Hamsher for remaining silent while JP Freire, Repub. strategist,

repeated the lie that a tax on the richest 2% would be taxing the "people that create most of the jobs." She was busy attacking Harry Reid and Obama on how they're willing to compromise and how Reid still can't get his fellow Dems. on the same page. They were both on MSNBC just now.