156 Days: The Countdown To Democrat Tax Hikes

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Washington, D.C. – House Republican Whip Eric Cantor (R-VA) today issued the following statement 156 days prior to the Democrats' planned tax increase:

"The American people have had it with the job-killing agenda being pursued by Democrats that control Washington. The Obama Administration’s failure to understand private sector job creation and promote policies that result in real economic growth is a big reason why the majority of people have soured on the President’s policies. People from coast-to-coast are desperately hoping to see small businesses create jobs again, and Republicans have fought for their cause since day one of President Obama’s term. There are 156 days remaining until Democrats enact the largest tax increase in American history, and it will hit small business people the hardest. America simply cannot afford the Obama tax increase, and we are prepared to do everything in our power to protect small business people and working families from it.”

Courtesy of The Chief Deputy Whip's Office
 

 

COUNTDOWN TO DEMOCRAT TAX HIKES

On January 1, 2011, Democrats will drop a $3.8 trillion tax increase on American taxpayers and small businesses. This unprecedented tax increase will stifle the creation of jobs in the U.S. because of its punitive effect on small businesses.

The Numbers

94%  Number of Small Businesses in America subject to Obama’s Tax Hikes

670 billion  Dollar amount of tax increases Obama has already enacted since taking office

60.2 million  Number of individuals employed by small businesses in America (more than 50% of the workforce)

3 million   Average number of jobs created each year by start-up companies in America under the current tax rate

3.079 million  Number of American jobs lost since the enactment of Obama’s “stimulus”

It’s easy to see the stark contrast between Obama’s job-killing economic policies and the job-creating effect small businesses have on the economy. What’s confusing is why the President would want to continue down the current path of economic devastation.
 

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