As usual Gietner does the opposite of what actually needs to be done. He says he will allow tax cuts for under $200,000 a year tax payers, but wants to go after the business owners who are actually the ones keeping this faltering economy going. He also says the new Financial Reform bill should bolster confidence.
In reality the opposite has happened as few even understand the financial bill. It will be like Obamacare we will be getting new revelations day after day. The latest being a hidden tax on gold, ABC reports, it will come from small business people and self employed who use 1099 forms. which tracks and reports miscellaneous income. It will finance some of the health care's bills. 58% of Americans still want Obamacare repealed.
This expiration will also raise capital gains from 15% to 20%. There has been a cry for the small business's to have relief but this will clearly hurt the small companies and put more drag on the economy.
I have a personal desire to see these tax cuts renewed, as the tax credit for young families have helped my son and daughter-in -law tremendously. They have been able to make major repairs on their house and other needs of a young family.
The small business's are a major part of the recovery on this economy. They are also the main ones hiring and keeping the economy going. Why muzzle the ox that is pulling the economy and put greater burden on them.
Why I believe strongly to RENEW THE BUSH TAX CUTS
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