This is the latest idiocy of the Democrats. They want so bad to raise the taxes on the small business owners, the Mom and Pop businesses that file as individuals and have an income over $250,000 a year, that they are now offering loans to them so they can pay the taxes.
For months now the Democrats are arguing to let the "Bush" tax cuts expire. (I suspect that the reason to let them expire has to do with the name "Bush" that is attached to them, they HATE GWBush) Also for them its an easy way to raise taxes without being blamed for it. Just let the tax cuts expire and taxes go up. But not to worry, it wont cause a reduction in job creation. They have that all figured out.
Today the House passed a 80 billion stimulus bill for small businesses that will allow those same businesses that have had their taxes raised barrow money....to pay the taxes?...!!!! But dont worry, this 80 billion bill will be paid for by the Taxes that were raised in the paragraph above.
Are you dizzy yet?
The whole idea is insane because there will be a loss due to "friction" as the money comes from the businesses, is gathered by the government, and then sent back to them as a loan.
This is a real cool idea, take someones money and then give it back to them while charging them both management fees AND interest. This is a new concept to me but it looks like it will work.
The problem is that the money NEVER belonged to the government, it belonged to the small business owner and the government has just found out a way to charge the owner interest on HIS OWN MONEY!
Jim Isbell
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