On the recordJuly 14, 2010
Is it? Okay. Anyway, if you are talking about economic uncertainty, if you don't know what's going on as a businessman, what you are going to do is you are going to be very cautious, very conservative, and you are not going to hire a bunch of extra people. But let's take a look at these job killers. Excessive taxation. Lets's take a look at what's coming down the pike. You have to be able to see. This is the largest tax increase in history unless Congress is going to act to deal with it. First of all, for married people the standard deduction decreases if you are married. And then parents, you have a child tax credit, it will be cut in half from a thousand to 500 per kid. If you die this year and you have an estate, you pay nothing. Next year if you die, 55 percent tax on it. You are a small businessman. You have gotten to be 80 years old. You got your business all going, it's really doing good. It's actually a farm. It's 1,000 acres with some big pieces of equipment. It's worth $10 million, your farm is. And you up and die this year, and you pass that farm on to your son and he runs it, no problem. Next year same thing happens, you got the nice farm, got it all set up, you die, the government says, hey, taps your son on the shoulder, I need 55 percent. But he says wait a minute. If I take half the land of the farm then it doesn't make the thing work economically. I can't run the farm on half the land and half the equipment.
