Washington Republicans (like Todd Tiahrt and Jerry Moran) really want to get away with voting against our Iraq war vets, but they can't find anything wrong with Webb's G.I. bill - so they're grasping for straws. And, of course, they aren't very clever. So they're recycling their favorite scary phrase: "small business tax."
The new half-percentage tax surcharge is being referred to as a "patriot tax" on individuals earning over $500,000 and couples earning over $1 million. But what they aren't saying is that this tax increase will also affect some 325,000 small business owners across the country.WOAH! SCARY! EXCEPT...it still only affects millionaires...not your favorite local bar.
According to the Center for Budget & Policy Priorities:
Critics of the House-passed bill maintain that their concern is its impact on “mom and pop” small business operations, which they describe as the engines of economic growth and job creation. These critics should be reassured by the fact that the overwhelming majority of such enterprises will never generate enough profits to make them subject to the surcharge. Importantly, only business profits, not gross receipts, are potentially subject to the surcharge. Some critics have misleadingly implied that the surcharge applies to gross receipts over $1 million.Ah HA! So the truth comes out...in voting against education for veterans, Moran & Tiahrt aren't just trying to protect millionaires, they're protecting George Bush and Dick Cheney! WHY ARE WE NOT SURPRISED!?!?!
Moreover, even the “about 1 percent” figure likely overstates the impact of the surcharge on small business owner-operators. The Tax Policy Center data classify as a small business owner anyone who receives any income from an S corporation, partnership, sole proprietorship, or various other types of businesses. Many of these individuals, however, play no role in managing the business and are simply passive investors who contribute some capital to the enterprise and, in exchange, receive a share of the profits. Their ranks include President Bush and Vice-President Cheney...
And the Kansas GOP staff...I mean..."secret bloggers" just spits it all out like it doesn't make them look REALLY REALLY incompetent. But it does. And they are.