SOTU FACT: Tax Hikes Hurt Small Business Job Creators
CLAIM: The president wants to expand tax relief to small businesses.
- “Expand tax relief to small businesses that are raising wages and creating good jobs.” (President Obama, State of the Union Address, January 24, 2012)
FACT: The Democrats running Washington have repeatedly proposed tax hikes on small business job creators.
- Last fall, Senate Democrats proposed a tax hike that would have hit more than one-third of all small business income - “approximately 34 percent” in 2013 - according to the Joint Committee on Taxation.
- The tax hike outlined by President Obama last September would “raise taxes on capital” and hurt “the people with resources to invest in start-ups, new businesses and growing jobs,” reported Investor’s Business Daily.
- AP said last summer that “[p]roposals under consideration” by Democrats “include raising taxes on small business owners and potentially low- and middle-income families.”
BOEHNER QUOTE: “The truth is we will never balance the budget and rid our children of debt unless we cut spending and have real economic growth. And we will never have real economic growth if we raise taxes on those in America who create jobs.” (Speaker John Boehner, Address to the Economic Club of New York on Jobs, Debt, Gas Prices, 5/9/11)