Saturday, November 17, 2012

Job creators…..revisited

President Obama's tax plan won't affect most small businesses, and won't affect most of the so-called job creators. Plain and simple.

In the past week I've read a couple interesting facts about small businesses and the so-called job creators that I wish had been given widespread news coverage during the presidential campaign.

Turns out that the Republican mantra that "we can't raise taxes, that will hurt small businesses, they're the job creators" was mostly malarkey.

Let's talk about small businesses and jobs and taxes – here are a couple points that Romney and many Republicans forgot to mention, and for that matter, I'm mystified by the failure of President Obama and many Democrats to mention them…..

About 97 per cent of small businesses have less than $250,000 annual income. Thus, allowing the so-called Bush tax cuts to expire for high-income taxpayers won't affect most small businesses.

About 75 per cent of small businesses have no employees and are never going to have any. Why? About 75 per cent of small businesses are sole proprietorships, that is, they are one man or one woman who set up his/her own business so he/she could "work for myself, be my own boss." These people have no intention of creating the millions of jobs that we need to bring down the current high unemployment rate.

One of President Obama's high-profile policy commitments is to raise taxes on the very wealthy and the highest-income folks, to ask them to pay more of their fair share for all of the government services that we all need and want. Most small businesses and most of the so-called job creators won't be affected. Plain and simple.

And anyway – just to make the point – what are the so-called job creators anywhere thinking? what are they doing? Taxes haven't been raised on job creators (or anybody) for the last decade – I really haven't seen those alleged job creators hard at work anywhere…..

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