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Monday, July 16, 2012

Democrats Holding American Taxpayers Hostage To More Tax Hikes

By Susan Duclos

Remember when Obama and Democrats continuously said Republicans were hostage takers?

It is only appropriate that those comments are now coming back to bite Barack Obama and Democrats right in the butt.

Karma Baaaaaaaaaaaaaaaby.

Look who is holding the fiscal cliff and American taxpayers as hostages now.

Via The Examiner:

Democrats say they are willing to see America go over the "fiscal cliff" if Republicans don't go along with Democratic Party ideas for raising taxes on higher income earners when the Bush tax rates expire at the end of this year.

"Emboldened by signs that GOP resistance to new taxes may be weakening, senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession if the new year arrives without an acceptable compromise," the Washington Post reported Sunday.
Effectively, the Democrats are saying: "Our way or the highway."

“If we can’t get a good deal, a balanced deal that calls on the wealthy to pay their fair share, then I will absolutely continue this debate into 2013,” Senator Patty Murray (D-WA) plans to say in a speech to be given Monday.

Obama and Democrats' class warfare mentality has already failed in the eyes of the public as the most recent  McClatchy-Marist poll finds 52 percent of registered voters want all Bush-era tax cuts extended, including those for Americans making over $250,000.

According to McClatchy, support for extending the tax rates comes from some of Obama's most reliable supporters, including minorities, young voters and the poor - the very people who will be hurt the most by Murray's ultimatum.

Who will be affected by raising taxes on those making $250,000 or more?

Finding an estimate from a reputable source on the fraction of employment provided by those small business owners isn’t easy. Most data on small business income isn’t linked to data on small business employment. But the Federal Reserve Survey of Consumer Finances (SCF), a representative sample of a cross section of American households, does.

George Haynes of Montana State University, who has conducted much research on small business using the SCF, took a look at the employment of small business owning households for me. In the 2007 SCF, his analysis showed that small business owning families earning more than $250,000 per year employ 93 percent of the people working in small businesses.

The message from these different data sources is clear: Letting the Bush tax cuts on households earning more than $250,000 per year won’t affect very many small business owners – just the ones who employ the vast majority of people working in small companies.

 Here is another number to remember: Small businesses create 64 percent of new jobs in this country and employ almost half of all American workers.- Source, U.S.News & World Report

So, Obama and Democrats are willing to hold American taxpayers as hostages in order to raise taxes on people that employ 93 percent of the people working in a small business.

What? 8.2 percent unemployment isn't high enough for Obama and Democrats?

Oh, and this is all over and above the massive tax hikes against middle class America that Obama has already passed.

See: The  Comprehensive List Of Obamacare Tax Hikes With Effective Dates.