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Old 06-20-2008
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Default Obama Will Hurt Small Business In America

“Senator Obama’s plans would add to the difficulties of small business in other ways, too. Currently, there are the 21.6 million sole proprietorships filing under the individual income tax. When Senator Obama talks about raising income tax rates on those making over 250,000 dollars — that includes these businesses as well. He also proposes increases in dividend and capital gains taxes. Under Senator Obama’s tax plan, Americans of every background would see their taxes rise – seniors, parents, small business owners, and just about everyone who has even a modest investment in the market. He proposes to eliminate the Social Security earnings cap, and thereby to increase the tax on employers. He proposes to eliminate the secret ballot for union votes, and to raise the minimum wage and then index it, which is a sure way to add to your costs and to slow the creation of new jobs. You work hard in small businesses to grow and to create new jobs and opportunities for others — and the federal government shouldn’t make your work any harder.” [McCain speech to the NFIB, 6/10/08]


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