Posts Tagged ‘small businesses’
November 6th, 2009 at 12:04 pm
Health Care Taxes to Crush Small Businesses
Posted by Print

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.