Glenn Thompson said "Yes. This panel that we heard in the Small Business Committee just reaffirmed that chart that you have. Each of those bullets came up in the discussion today. When you look at the taxes, tax increases have been levied in the past 16 months. Our colleagues across the aisle said, well, we are going after the wealthy. We are going to increase taxes on the wealthy. Well, at least 40 percent of the individuals who are experiencing and will be experiencing, especially next year come January 1, 2011, significant tax increases, are small business owners. They are people who are organized as limited liability corporations, S corporations. They pay their taxes as individuals, but frankly, they make a payroll out of their income, and they create just tremendously important jobs." @ PoliticalQuotes.com

On the recordMay 5, 2010

Yes. This panel that we heard in the Small Business Committee just reaffirmed that chart that you have. Each of those bullets came up in the discussion today. When you look at the taxes, tax increases have been levied in the past 16 months. Our colleagues across the aisle said, well, we are going after the wealthy. We are going to increase taxes on the wealthy. Well, at least 40 percent of the individuals who are experiencing and will be experiencing, especially next year come January 1, 2011, significant tax increases, are small business owners. They are people who are organized as limited liability corporations, S corporations. They pay their taxes as individuals, but frankly, they make a payroll out of their income, and they create just tremendously important jobs.

Said by

Glenn Thompson

Republican · Pennsylvania

Source

govinfo.gov

Editor's note · Context

The speaker addresses the impact of tax increases on small business owners.

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