The Leader's Ledger

Posted by Jessica Straus on

Good Morning –

This week is National Small Business Week. We all know that small businesses create more jobs than any other sector in this country – in the last several decades, more than 65% of all new jobs came from small businesses. Given the stalled economy and millions of Americans out of work – including more than half of new graduates – we need to be doing everything we can to lower taxes, cut red tape and make it easier for small businessmen and women to grow and create jobs. Our Small Business Tax Cut is a simple and straightforward way to get money back in the hands of small business owners and allow them to invest in their companies, expand and hire again. As Small Business Committee Chairman Sam Graves wrote today: “Taxing job creators during a time of frail economic recovery makes zero sense. Senate Majority Leader Harry Reid’s determination to increase taxes on small business further shows how out of touch his tax-and-spend agenda is. Constant threats of new and higher taxes continue to bog down our economy and paint a discouraging picture for small firms and future generations. Instead of taxing the productive part of our economy to death, we need to provide relief for our small businesses so they can grow and create jobs.”

Today In History: The American Red Cross was founded by Clara Barton and Adolphus Solomons on May 21, 1881.

Birthdays: Mike Viqueira, Mosheh Oinounou, Andrew Miller, Nick Cassavetes, Notorious B.I.G., Alexander Pope

Here are the Top 4 things you need to know today…

1. Small Biz: Chairman Graves: Ease Tax Burden On Small Businesses. This week marks the 49th annual National Small Business Week, a time to recognize the contributions of small businesses to the economic well-being of America, but the small-business tax forecast for the next several years is an ominous one. Small firms have to comply with a great deal of new health care law taxes, such as the Medicare payroll surtax on investment income and the comprehensive health insurance plans tax, among many others…. Taxing job creators during a time of frail economic recovery makes zero sense. Senate Majority Leader Harry Reid’s determination to increase taxes on small business further shows how out of touch his tax-and-spend agenda is. Constant threats of new and higher taxes continue to bog down our economy and paint a discouraging picture for small firms and future generations. Omaha World-Herald

2. Focus On Vets: Leader Cantor Celebrates Our Nation's Veterans And Highlights Richmond’s Welcome Home Our Heroes Parade. “The parade brings together all kinds of services for our veterans so that they know they are coming home to a welcoming community. It is a part of our obligation because we have asked our men and women in uniform to go and fight for our freedom and the security of our country. The least we can do is to be there for them when they come home in a welcoming way. It sort of echoes what we are doing in the House of Representatives in Washington, which is to make sure that we have in place policies that signal to veterans that we want them to come back to the community, we want them to have an easy way of regaining employment and we want to make sure that they are accessing the services they need.” FOX

3. Keeping Tabs: Obama Blame-Game On Dismal Job Growth Doesn’t Pass WaPo Fact Check. We looked at unemployment rates and found that Obama’s numbers are still worse than those of his predecessor. Bush’s average monthly unemployment rate was 5.2 percent, compared to 9.2 percent for the current president. Let’s see what happens when we credit Bush with the entire period of the Great Recession, which ended in June 2009. He still fares better, averaging an unemployment rate of 5.4 percent, compared to Obama’s 9.3 percent after the economic downturn. The only way the president’s claims make sense in the context of unemployment data is if he points to the numbers during his own term and blames them all on the policies implemented during previous administrations. This logic is reasonable to a certain extent, considering the depth of the recession Obama inherited. But the president can’t shirk all responsibility for employment rates just because he started with a raw deal. After all, one could argue that the recovery should have begun sooner or that it ought to be stronger by now...[On job creation] Obama comes in either last, second-to-last or in the bottom half among presidents since the Great Depression, depending on which way you look at the numbers. Washington Post

4. Obamanomics: Obama’s Relentless Pursuit Of Higher Taxes And Spending Didn’t Do Much For The Economy. Over the past three years, Obama has pursued the goal of higher tax rates as relentlessly as Captain Ahab pursued the great white whale. Never mind that by some measures the United States, even with the "Bush tax cuts," already has the most progressive tax system in advanced economies… In the 2008 campaign, ABC News' Charlie Gibson asked him whether he would increase the capital gains tax rate even if it meant reducing government revenue, as has happened in the past. Yes, Obama said, "for purposes of fairness." He wants to take away money from people who have earned it even if government gets less to spend. Obama argues that government spending can generate growth. But money spent propping up state and local public employee unions and funding supposedly shovel-ready projects -- major features of his 2009 stimulus package -- didn't do much for the economy. Real Clear Politics

Off The Beaten Path:

Mark Zuckerberg Updates Facebook Status To “Married

Cube Dwellers Beg For Quiet

Google Chrome, Now The World’s #1 Browser

 


 





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