There are a lot of awful provisions in Speaker Pelosi’s 1,990 page stab at health care “reform.” For millions of small businesses across the country, a 5.4 percent surtax is high on the list of undesirable provisions.
The Congressional Joint Committee on Taxation (JCT) released an estimate that determined one-third of small businesses will be hit with the new 5.4 percent surtax. Roughly speaking, small businesses can look forward to forking over another $150 billion next year in new taxes to feed Washington’s spending binge.
The lesson: Small businesses must trust Congress. Only Congress knows that the best way to bring down a 10.2 percent unemployment rate is to tax small businesses, raise utility rates through Cap-and-Trade legislation, take over $2 trillion from the private sector through taxes and determine corporate pay scales… Congress knows best.
Here is the JCT cost estimate. To read more on health care, click here.
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