Paul Ryan: “If a small business makes $1 million, what does that mean? That means they are making money and hiring people.…”

“If a small business makes $1 million, what does that mean? That means they are making money and hiring people. Two-thirds of our jobs in America come from small businesses. Two-thirds of all those who file in the top bracket are small businesses. In this new rate structure being proposed, this new tax increase, 75 percent of those people are small business people. Why would we want to tax the recovery of this economy at this time? What we accomplished in the last tax bill was finally lowering the tax rate on small businesses down to a level large corporations pay. Remember, Mr. Speaker, that before the July tax cuts, we were charging small business owners higher tax rates than we charged the largest corporations in America, like Exxon or IBM or General Motors. What this bill will do is do that again. It will increase taxes on small businesses and make small businesses pay higher tax rates than the largest corporations in America. Why would we want to reintroduce that injustice back into the Tax Code? We want to keep low tax rates on small businesses. That is who are creating jobs right now. Two-thirds of our jobs today come from small businesses. This big tax increase on small businesses is not the way to go. We want small businesses making money. This is a tax on their income that they reinvest in their businesses.”