Sunday, December 5, 2010

Senator Franken defines tax cuts for "small" business

Wednesday Morning Breakfast with Senator Franken in Washington DC

I don't think I have heard such clarity in a few months. We had some good examples during the election in the USA, but Senator Franken from Minnesota addressed the Senate last Friday and he cleans up the cobwebs on alot of rhetoric floating around in the media about extending the Bush Tax Cuts. If you get anything, remember that tax cuts to the weathiest increases the deficit. Time after time after time.

I was going to cut and paste some of his speech here but then I wanted to paste the whole thing.

Someone needs to go one step further and name all the "small" businesses that can afford a personal lobbyist(s) in Washington. Read who really got the most tax cuts last time and lets see if we cannot change this proposed extension so it benefits actual small business people (like my cousins who have real family construction businesses), who will spend it in their communities and energize the economy. We do not need the top 2% of Americas increasing their personal wealth and marginizing the remainder anymore. If you have not gotten anything in the past 20 yers, there is no "trickle down economics" It does not happen. If you give it to the highest 2% wealthy, it does not stimulate the economy. Can you believe that Bechtel was considered a small business? Isn't it the fifth largest corp in the US? What do you think a 29% tax cut meant for them in real dollars vs. a 16% tax cut for my cousins who have small family companies? And there are wineries in the Napa Valley that really are small family businesses of 20-50 persons. Urge your congressman to vote against any tax cut for incomes over 1 million. When we get rolling again we can increase the ceiling but not for the top 2% in America. Their tax rate needs to increase. I'll get back to you on a fair estimate.

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