On the recordApril 13, 2010
Thank you, Dr. Gingrey. You know, I like the focus of this conversation. And if you will, I want to point out that oftentimes when we speak about losing a job, unless you've lost your job, you assume it's someone else that is losing their job. But I think it's important for the American people to understand that this has the potential to affect people at all strata. Let's start off with the tax on Medicare, the increased Medicare tax. This is going to be on the people who earn over $200,000 a year. Many of these folks don't consider themselves wealthy. If they're small business people, he or she is trying to make a payroll and expand a business, and this is going to hit them. And inevitably, when you tax, you are going to lose money that would otherwise be available to create jobs. One of our famous Chief Justices said that the power to tax is the power to destroy. When you increase taxes on these folks that are job creators, you destroy their ability to create jobs. Now, folks say, well, that doesn't relate to me because those are the folks who are small business people, and I'm not a small business person. Well, as it turns out, let's go to the other end of the spectrum. As it turns out, this plan levies a $2,000 penalty upon an employer whose employees will get a tax credit from the Federal Government.…





