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Cantor's small-business tax cut passes House in 235-173 vote

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posted on Apr, 19 2012 @ 07:08 PM
Cantor's small-business tax cut passes House in 235-173 vote
04/19/12 01:56 PM ET -- The Hill

The tax cuts for small business will be 20%.

The opponents say those cuts are not paid for and would add $46 billion to the budget deficit in just one year.

Well how do you "pay for" tax cuts unless you raise taxes somewhere else !!
(is that the best excuse for failure they can think of ?)

Great excuse to shoot down something that obviously would create many jobs and increase tax revenues.

The Democrats are stark raving jealous and Obama says he will "veto".

What else can they do to make the deficit higher and keep jobs in check ?
(oh yeah, the Keystone pipeline veto threat, I forgot)

Lots of excuses in the article:

The House approved legislation backed by Majority Leader Eric Cantor (R-Va.) Thursday that would cut taxes on small business by 20 percent.

For the second day in a row, the House ignored a veto threat from President Obama in passing the tax bill in a 235-173, mostly party-line vote. On Wednesday, the House approved transportation legislation that also mandated approval of a controversial oil pipeline.

related thread --> White House threatens veto of highway bill over Keystone pipeline provision

posted on Apr, 19 2012 @ 07:32 PM
How dare legal, small business's try to thrive. If democrats hate big corporations so much, you think they'd support small business.

posted on Apr, 19 2012 @ 09:05 PM
Understand I am playing devil's advocate here, and that I support any help we can afford to give small business.
The current Republican mantra has been that all cuts and expenditures need to be "paid for".

This seems a bit hypocritical, however well intentioned it is.

posted on Apr, 19 2012 @ 09:09 PM
Most small businesses are LLC's or S-Corps, and the businesses themselves pay absolutely no INCOME taxes. When you look at all the loopholes in the tax code, most businesses pay absolutely no federal income tax. I think I did about 90-100 business returns over the last three months, and none/zero/nada actually paid any tax.

ETA: Most of the taxes that small businesses do pay are state and local, few are affected by Federal income taxes.
edit on 4/19/2012 by BubbaJoe because: to clarify a couple of things

posted on Apr, 20 2012 @ 05:42 PM
Do you think Eric Cantor gives a damn about small businesses? He doesn't care. He cares about Wall Street and the banks.

The man actually bet his own money that the economy would fail. He's scum and should be in prison for being a traitor to the American people.

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