It’s a Tax Increase on Small Business

Rep. Paul Ryan (R-WI) appeared on Face the Nation on Sunday, making a basic point about tax rates and the President’s renewed call for higher taxes.

If you have really high tax rates what you end up doing is you penalize small businesses. What you have to remember Bob, most successful small businesses file their taxes as individuals. Most of our jobs come from these small businesses. The president is proposing to raise the top tax rate on these small businesses to 44.8 percent. We don’t think that’s good for jobs, we don’t think that’s good for economic growth, and when we tax our employers a whole lot more than our foreign competitors tax theirs, we lose, they win, and we don’t want that.

Two things, number one: We don’t have a tax problem. Our revenues are going back to where they have been historically. We have a big spending problem…The president’s proposing $1.5 trillion in tax increases, the Democrats in congress are proposing anywhere from $2-16 trillion in tax increases based on the three budgets they brought to the floor the other day…Here’s what we’re trying to get: Spending cuts and controls to get spending under control — because that’s the problem — and economic growth and job creation. We don’t want to give up one to get the other.”

Via The Corner, National Review Online.

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