Roskam Statement on Obama’s Debt Plan

From the office of Rep. Peter ROskam (Ill., 6th District)…

WASHINGTON, DC – Congressman Peter Roskam (IL-06), issued the following statement in response to the President’s debt plan:

“It is disappointing that with our economy on the verge of a double-dip recession President Obama is proposing trillions in higher taxes. Small businesses are already begging for mercy from Washington’s high tax and regulatory environment. Higher taxes – and the uncertainty caused by the threat of them – is the last thing American small businesses and job creators need to endure. It’s unfortunate but this latest proposal is predictably sad and sadly predictable from an Administration that has over-taxed, over-regulated, and over-spent our way to nine-percent unemployment and $14 trillion in debt.”

BACKGROUND:

In August 2009, President Obama Said “You Don’t Raise Taxes in a Recession.” President Obama: “So I guess what I’d say to Scott is – his economics are right. You don’t raise taxes in a recession. We haven’t raised taxes in a recession.” (Interview with NBC News, 08/05/09, Elkhart, Ind.)

Half of All Net Business Income is Taxes in the Upper Two Individual Income Tax Brackets According to a Non-Partisan Tax Committee. (Joint Committee on Taxation, July 14, 2010)

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  • Ugh. WTH, come on.

    "Half of All Net Business Income is Taxes in the Upper Two Individual Income Tax Brackets According to a Non-Partisan Tax Committee"

    Ok...do you care to expound on that? Of course you don't...why would you want to clarify to your readers what that really means. I'll help... It means that the majority of people in the top two income brackets reported some form of business income. HOWEVER-the vast, overwhelming majority...as in about 97-98%, of "small business" owners, do not earn 250k or more from their small business, and would hence be unaffected by this tax plan. That's a fact...not up for debate. Simple as that...and you know this...you must know this...and hence you know the statement you offered is disingenuous/misleading.

    I would enjoy for you to once offer up what your grand plan would be? Tax cuts...deregulate...and??? I know that worked well for 8 years. Oh and you may be for allowing people to work for free...which I commend you for.

  • Deregulate some, yes. No all regulations are bad, but what we have now is a perfect storm of regulations piled on top of regulations with no concern as to whether what is coming down either fits logic, whether they contradict what is already on the books, or even whether it is physically possible to satisfy them.

    But we don't have a tax problem in Washington. D.C. get PLENTY of tax money for what it really needs to do. We have a spending problem in Washington.

    Gov't need to be gutted. Thousands of federal workers need to be let go and their benefits and pensions ended. Hundreds of department should be eliminated. But above and beyond that the entitlements need to be corrected and set on a road to reality, not the fantasy world of the never ending pit of money that they were created to pull from.

    The retirement age should be raised, personal retirement accounts (like those Bush wanted to start) should be made. And people should be made fully aware that So.c Sec. is NOT an "insurance" plan and it is NOT a "retirement" plan. It never was. It is welfare. Period. It is government handouts. Period.

    And one last word about Obama's lie that cutting the payroll tax is somehow a help for small business. It isn't. He isn't cutting the part the business pays. He's cutting the part the workers pay. THAT is not a help to business at all.

  • By the way, even the far left-wing Associated Press had to tell the truth about taxes…

    "The data tell a different story. On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.

    There may be individual millionaires who pay taxes at rates lower than middle-income workers. In 2009, 1,470 households filed tax returns with incomes above $1 million yet paid no federal income tax, according to the Internal Revenue Service. That, however, was less than 1 percent of the nearly 237,000 returns with incomes above $1 million."

    The rich pay more than their "fair share" already.

    (AP story: http://www.google.com/hostednews/ap/article/ALeqM5iP3lhS4ZQ-UhyUvFfUgdPCiu-jJA?docId=47a565563a294b2bad96544a7f0ddc1b )

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