Federal Tax Hikes

This January there will be a massive tax increase on businesses large and small and entrepreneurs unless Congress acts. Speaker Nancy Pelosi and President Obama agree that the federal tax cuts of 2001 and 2002 resuscitated our economy from the Clinton/Gore DotCom recession (Projected Surplus Vanished) that George Bush inherited in 2001. Obama and Pelosi both agree on an extension, except for the so called "rich" or those making more than $250,000 annually. Most small businesses in this country report Gross Earnings exceeding $250,000 per year thus the Obama/Pelosi plan is a tax increase on businesses large and small and it will stifle job creation when our country needs it most.

It appears to escape some politicians and voters that business, whether large or small, will pass on any tax hikes they must pay into the price they charge you and me for their goods and services. Any tax hike on business is really a tax hike on you and me! I know it is a hard concept to understand, especially for those who are only familiar with government employment with no accountability for profits or success. Only people pay taxes, business whether large or small collect taxes as part of their cost basis of their product or service!

With the unemployment rate hovering around 10%, it's amazing that Speaker Pelosi is even considering a tax increase on businesses. Large and small businesses are the engine for job creation in our country, not the government. The people of New Hampshire deserve to know where Frank Guinta and Carol Shea-Porter in NH CD-1 race, Charlie Bass and Annie Kuster in NH CD-2 race, and Kelly Ayotte and Paul Hodes in the US Senate race stand on the Obama-Pelosi business tax hikes before we vote in November!

Work Hard Have Fun!

Bob DeMaura