On Saturday, two proposals, one sponsored by Max Baucus (D-MT) to extend current tax rates for families earning up to $250,000 a year failed to pass (53-36) and the proposal sponsored by Sen. Chuck Schumer (D-N.Y.) to extend tax cuts for families earning up to $1 million also failed to pass (53-37).
It is clear that the republicans (and a few democrats) seem to get the message that tax cuts do not add to the deficit....GOVERNMENT SPENDING adds to the deficit. If you over-tax the job creators, then they can't create new jobs.
If these tax rates expire, then what will happen to new jobs? There will be none. On top of that, unemployment benefits are set to expire. No jobs...no unemployment...thank you Mr. Obama and the democrat majority congress for your "hope and change". This phrase is meaningless and empty in the face of 10% unemployment and record deficits thanks to your failing policies.
Articles concerning unemployment and tax rate increases:
This following is an excellent article about Taxation 101 for those who don't understand why it is a bad idea not to extend the current tax rates to the "evil rich".
The major reason for no job creation is the fear that taxes will be raised on small businesses. If you take that fear away from small business, they will begin to hire thus slowly getting people back to work and off unemployment benefits. Unfortunately, this is only one part of the problem for small businesses. The next problem is socialist manadated healthcare...another job killer created by the Obama spending administration.
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