On the recordAugust 1, 2012
Stopping the tax hike is not just about taxes; it's about jobs. Small businesses have been responsible for about two-thirds of the new jobs created. Raising taxes on the so- called ``rich'' will hit nearly 1 million of these businesses and in this weak economy will risk destroying 700,000 jobs. Is it worth it? Raising taxes simply allows Washington to spend more. If we want to have a serious discussion about reining in our out-of- control spending, I welcome that debate. But first we should do no harm to our fragile economy. Extending current rates gives us time to pass our plan for comprehensive tax reform without risking thousands of jobs and another recession. CBO estimates that action will produce 2 million jobs next year alone. The choice is clear. Let's stop the tax hikes and create jobs.
