Political Quotes

“I thank the Chair. So a bill that is intended to help students would actually make their job prospects even bleaker when they graduate. The American Institute of Architects said of the Reid proposal: If we're trying to make it easier for our college graduates to get started in their career and become contributing members of society, increasing taxes on those who would most likely hire them is simply bad public policy. Payroll taxes are already scheduled to become more punitive for the small business owners targeted by this bill. Under ObamaCare, the Medicare portion of their payroll tax will rise from 2.9 percent to 3.8 percent, and another 3.8 percent will be assessed on their investment income. To add insult to injury, this bill exposes family-owned businesses to double taxation. For example, in a business with three family member shareholders in which only two provide substantial services, those two family members would be responsible for payroll taxes on their own incomes and then both of them would have to pay payroll taxes on the income of their third family member. Applying this rising payroll tax to even more small business income is a terrible recipe in a time of a weak economy. At a time when businesses are struggling to hire, the last thing Congress should do is to make a bad situation worse. Now, the other side will argue that their bill is intended to prevent cases of tax abuse, so let's look into that.…”