Friday, June 24, 2011

'Geithner: Taxes on ‘Small Business’ Must Rise So Government Doesn’t ‘Shrink’

They live on another planet.

They fear what we need. They dread what we must have.

The political classes are IDENTICAL IN NATURE TO F SCOTT FITZGERALD’S VIEW OF THE RICH IN THE 20’S: "The rich are different from you and me"

The people who start small businesses are trying to swim the English Channel with a 50 lb weight on their back, Geithner comes along with a speedboat and demands we carry a few extra gallons of gas so he can go further.

Treasury Secretary Timothy Geithner told the House Small Business Committee on Wednesday that the Obama administration believes taxes on small business must increase so the administration does not have to “shrink the overall size of government programs.”

The administration’s plan to raise the tax rate on small businesses is part of its plan to raise taxes on all Americans who make more than $250,000 per year—including businesses that file taxes the same way individuals and families do.


Big trouble is coming.

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