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Obama Makes Pretend He Loves Small Business

Obama’s statement in the Rose Garden today is the kind of thing that makes we want to EAT MY CHAIR.

I mean it. Don’t say I didn’t warn you. I’m going to EAT MY CHAIR and sit on the floor from now on.

OK, I’m trying to calm down. Give me a second.

Here’s what the president said. Tell me if you don’t want to eat your chair too.

Ultimately, our goal is to make sure the people who are looking for a job can find a job.  And that’s why it’s so important for the Senate to pass the additional steps that I’ve asked for to cut taxes and expand lending for America’s small businesses, our most important engine for hiring and for growth. And a small business jobs bill that contains these measures may come up for a final vote in the Senate in the next few days . . . To unlock the growth of our entrepreneurs, we’ll finally do what I’ve been advocating since I ran for President, which is to eliminate capital gains taxes entirely for key investments in small businesses.

You know, the small businessmen and women who write to me every day, and the folks who I’ve met with across this country, they can’t afford any more political games.  They need us to do what they sent us here to do.  They didn’t send us here to wage a never-ending campaign.  They didn’t send us here to do what’s best for our political party.  They sent us here to do what’s best for the United States of America and all its citizens, whether Democrats or Republicans or independents.  In other words, they sent us here to govern.  And that’s what I hope we will do in the remaining days before the Congress takes its August recess.

Now he’s done it. I’m sure people across this great land are practically in tears over the president’s love for small businesses. But I am now physically eating my chair. I’m typing from the floor since I’m starting with the legs. I’m leg man, especially when it comes to chairs.

If small businessmen and women are writing to the president every day, then the president’s problems is that HE CANNOT READ.

Here’s what Obama is doing for small business.

This is what Dan Danner, the head of the National Federation for Independent Business, wrote last month in National Journal about Obama’s health care law. Yes, the NFIB is a bunch of Republicans, but they are by far the largest small business group in the country – actually the only serious one in Washington. There are reasons why labor unions are Democratic, and there are reasons why small business groups are Rpeublican.

This law adds new costs (outside of their already skyrocketing premiums), paid for on the backs of small businesses. Examples include: new 1099 reporting requirements, new payroll taxes and new Medicare taxes. And, since I’m sure someone else here will mention it, yes, the new Medicare taxes are on incomes of $200,000 or more ….But what so many don’t know (or ignore) is that approximately 75 percent of small business owners file their taxes as individuals. These taxes will be levied on the capital a business owner has to re-invest in his company or put aside to hire a worker in the coming year . . . the law actually creates incentives to NOT grow your business, hire a worker or be successful.

So, okay, let’s snip out a piece of this and go further. Danner notes that 75 percent of small business owners file as individuals. And Treasury Secretary Geithner just reiterated yesterday that Obama is committed to raising all of their taxes – at least the ones that are making any money – on January 1. Otherwise known as “rich” people, successful small business owners are going to get walloped as top bracket income taxes revert to pre-Bush era levels.

How many small businesses really pay these capital gains taxes Obama is cutting for them?

Capital gains are paid on earnings from stuff you don’t normally sell. Small businesses need their stuff, because they’re small.

Are they going to sell their chairs? Or maybe they’ll just eat them, like I am.

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12 Responses to Obama Makes Pretend He Loves Small Business

  1. These are the same talking points he says about everything. Only the subject changes.

    As for people writing him. They are always writing him… sick people, well people, poor people, rich people, dead people. He takes 10 letters upstairs with him every night and reads them before bed and he has told us about this 150 times.

    Does he have the laziest speechwriters or are they giving him what he wants?
    I can’t believe this total charlatan is in the WH. I wouldn’t believe him if he said godzuntheit to me.

  2. Forget the elimination of ‘capital gains’, never going to happen. There is way too much tax money involved to even consider such a thing.
    I have to dispute the 75% of small business filing as ‘individuals’, it’s way to easy and cheap to form a corporation, even if there is only one person involved in the business. Lots of tax breaks, loopholes, and deductions that make it financially unwise NOT to form a corporation.
    “Keith News, Inc” could deduct the cost of those batteries in your Blackberry, the cost of that half-eaten chair (claim termites) and so on.
    As for our Leader, he knows nothing about earning a living on the basis of his knowlege, his expertise or talent. Every ‘job’ he has held was supported by the hard work of others.

  3. He also relieved himself of the opinion this week that he was just like the rest of us–had credit card bills (until those two perhaps ghosted books made him a truckload of money and a local “businessman” helped him buy the lot next door to his house). Yeah–just like us. What do the initials EOB stand for, Mr President? How about “Change in Your Agreement”–what does that mean to you?

  4. Wow. I can’t say that it’s a shocker to me to see a politicians talking out of both sides of his mouth.

    It is terribly troubling to me what it portends for our economy when you have small business owners struggling to figure out how they are going to survive in light of what looks to becoming on 2011.

    I deal with a number of small business folk and things are hard now but in light of health care and taxes it’s almost too much to comprehend anymore.

    • I agree, just don’t understand where we’re going here. The U.S. economy seems so durable, but I’m concerned there are a lot of hits it still has to take while still not back up to par.