As you mull over GT's concerns about small business owners, it may be worth your while to pursue this article on the corruption in the Small Business Administration under Bush.
“The President’s budget will devastate small business owners, and frankly, will put many out of business with the tax hikes included in his budget,” said Thompson. “At the end of the day, we need to ask ourselves a very simple question when evaluating this budget, will it help or hamper the economic recovery? And after reviewing the big ticket items in the President’s budget, it is clear that if adopted, this budget will stifle economic growth.”
President Obama’s budget, which Congress is in the process of reviewing, spends an estimated $3.6 trillion next fiscal year and accumulates over $9 trillion in debt over the next ten years. The President’s budget will also raise $1.9 trillion in new taxes.
“This budget simply spends too much, taxes too much and borrows too much – leaving a legacy of debt for future generations. Increased government spending and taxing our small businesses – which are the economic engine of America – will only prolong the recession and add to unemployment.”
But the real question is what does GT suggest as an alternative to Obama's budget proposal?
This afternoon House Republicans unveiled their budget blueprint, The Republican Road to Recovery. Click here to view this comprehensive alternative, which controls the debt, lowers taxes, provides an environment to create and preserve jobs, and curbs spending.
“We cannot tax and spend its way out of this recession – but we can provide incentives and enact smart government solutions to assist in the recovery process. The Republican alternative does just that. It is my sincere hope that the Democratic leadership will bring Republicans to the table – for the good of the country – next week when the budget makes its way to the House Floor,” concluded Thompson.
Yep, he's going with the much maligned House Republican budget proposal.
While reporters hooted at the comically simplistic charts and lack of details in the House Republican leadership’s budget plan, the green eyeshade types at Citizen’s for Tax Justice crunched the numbers (PDF). They conclude that a quarter of all households, most of them poor, would pay more taxes under the GOP plan, while the richest one percent would pay $100,000 less.GT, what a hack.
Technorati Tags: Rep. Glenn Thompson (R-PA5), GOP budget proposal, Obama budget proposal
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