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  • Morning Bell: Senate Votes to Raise Taxes on Small Businesses

    Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the tax hike.

    This is President Obama’s economic plan. This is what he asked Congress to do. And he recently told a fundraising crowd that his economic plan has been working.

    “Just like we’ve tried [Republicans'] plan, we tried our plan—and it worked,” he said.

    But Obama’s Treasury Secretary, Timothy Geithner, said yesterday that “the economy is not growing fast enough,” acknowledging that “unemployment is very high.” “The institutions with authority should be doing everything they can to try to make economic growth stronger,” he said.

    The President’s plan, now endorsed by the Democratic majority in the Senate, has little chance of going anywhere in the House of Representatives. But it has put the 51 Senators who want to raise taxes on record. 

    Perhaps the biggest lie in the tax debate is that this vote affects only “the rich.” That’s simply not true. Many small businesses, known as flow-through businesses, pay their taxes through the individual income tax. Ernst and Young estimates that these types of businesses “employ 54% of the private sector work force.” This tax hike squarely hits 1.2 million of these businesses that hire workers and have incomes above $200,000.

    Rather than punishing just “the rich,” as Heritage’s Curtis Dubay notes, “By pinpointing his tax increase on incomes over $200,000, President Obama has maximized the detrimental impact that his tax increase would have on job creation.”

    The Ernst and Young study on the impact of this tax hike showed that it could kill more than 700,000 jobs. This isn’t surprising, since the businesses it targets are some of the country’s most robust job creators. But it is surprising that a majority of the Senate would go along with this plan when the country is suffering from 8.2 percent unemployment.

    As if that weren’t enough, the Senate’s actions would also raise the death tax from 35 percent to 55 percent. This confiscatory rate would hit small businesses and family farms exceptionally hard. Dubay explains:

    The death tax is often portrayed as a tax that only rich heirs pay. In reality, the death tax hits family-owned businesses hardest. These businesses are valuable on paper because they have many assets that they need to make and sell their products. But the businesses’ book values are not representative of the families’ liquid assets. When a family member passes on, these families often have to sell all or part of the business to raise the cash to pay the death tax. This slows the growth of these businesses and in some cases forces them to lay off existing workers.

    The Senate’s vote means we are no closer to preventing Taxmageddon, the nearly $500 billion tax increase scheduled to hit Americans on January 1. It is difficult to imagine the economy sustaining such a blow. Families will be hit with an average tax increase of more than $4,100 next year if Congress allows this to go forward. Instead of preventing this calamity, the Senate voted to raise taxes. It simply boggles the mind.

    See our infographic: How Will Taxmageddon Impact You?

    Quick Hits:

    • “The militant group Al Qaeda in Iraq, which has rebuilt its campaign in the Persian Gulf nation, wants to launch attacks in the United States, intelligence officials say.”
    • Rather than embrace school choice, President Obama plans to establish a new office by executive order today specifically to “coordinate the work of communities and federal agencies to ensure that African-American youngsters are better prepared for high school, college and career.”
    • The CIA has said it has an “overlooked” stack of documents about the agency’s cooperation with filmmakers depicting the raid that killed Osama bin Laden. These records were supposed to have been turned over to Judicial Watch in a Freedom of Information Act request.
    • Chicago Mayor Rahm Emanuel, battling a drastically rising murder rate in his city, yesterday focused his determination on blocking Chick-fil-A from expanding in the city because of its CEO’s personal views on traditional marriage. “Chick-fil-A’s values are not Chicago values,” he said.
    • Interested in the latest on voter ID? At 2:00 p.m. Eastern today, Heritage and True the Vote will host a panel on election integrity. You can watch it live here.
    Posted in Economics [slideshow_deploy]

    79 Responses to Morning Bell: Senate Votes to Raise Taxes on Small Businesses

    1. SnoBurd says:

      What boggles the mind is where the Dems think the money comes from. Maybe the government can print all they want, but we, the private citizens who pay their salaries, can't. Have they forgotten they are there to represent us, and not the other way around? I thought it was government of the people, by the people, and for the people! What happened? I say, fire them all and start over, starting at the top!

      • tootoo says:

        I say Yessss…. lets petition & fire all of them.& or cut their pay ck .
        and also have them work with people that elected them to do their job
        & not to the lobbies t.
        so the problem is with fat senators & congressmen and also a country that has lost its porousness & lives on hate & greed.& this term election is a good example.

      • weener. says:

        very true, I agree with you wholeheartedly. Fire them all, I say. I guarantee you. A lot of our problems would be solved if the very richest of the rich actually spent at least 50% of their money every years…rather that accumulating it and HOARDING it. Sending it to banks in the Caymans and what not. Then the Fed has to print more to make up for the loss. If the money was actually circulating, our problem would eventually solve itself. The problem is human nature and greed. Not to mention…those same rich, rich people are sending work overseas to SAVE EVEN MORE MONEY. sheesh. everyone wants to blame the problem on everyone else. I understand the economic problem goes much deeper than that…but I believe that is a big part of the problem.

      • B.Knode says:

        My thoughts exactially!! I do believe that most of the people, with the exception of those in the Senate, and any one gaining any profits from them, feel the same way!! All those people up there on the hill have forgotten whom has put them there, and just why they are there, its the lineing of their pockets that drive them these days, not the betterment if the people!! It seems that the president stands behind this, and definatley not behind, nor for the people!! What it boils down to is this, their heads are big, their pockets are lined, to hell with the people!!

      • Daryl says:

        I truly agree !!! what is up with these people?I say we don't realllllly need them, I think there heads are stuck in the sand, or things have just gotten to far out of there hands. Revolution time folks !!! What the hell everyone else is doing it…Take a look around the world today, everybody is NUTTS !!!

    2. toledofan says:

      What a pathetic excuse for leadership. Reid and company are a pathic lot and it's clear, to me, that other than spending money we don't have and raising taxes, the Democrats have no plans for improvement. I say that each of these 51 Senators should be voted out and actually tarred and feathered when they return to their districts. Here we are digging ourself deeper into a recession and these people have no sense or inclination to do what has worked over and over in the past; cut spending, reduce regulations, and shrink the size of government. If we don't unclog our main arteries in November, I fear rthe heart attack will be severe.

    3. SnoBurd says:

      Remember, Obama's plan is to make everyone totally dependent on government for everything, so all anyone needs to do is sit at home watching game shows and soap operas all day and night. Eventually, that is what will happen if Democrats continue to be in control. He doesn't want anyone working and paying the taxes to support all the free stuff, however. Eventually, there won't be anyone working, so where will the money come from?

      • Gary says:

        But with limited and regulated internet, A/C and food. That is the end game they don't want you to know. Plenty of people are pathetically content to sit on their duffs doing the things you listed but not if you start reducing or limiting them. Of course it will be too late by then.

      • Concerned caregiver says:

        Oh yes that's what I do I sit around watching soaps. No – I take care of my little girl who had a liver transplant and my mother who has stage 4 cancer . What ignorance you have. Not everyone receiving government benefits are lazy. Yes there are some that take advantage of the system. Just as there are rich people who take advantage of tax "loopholes" . Until you have almost lost your child and your mother why don't you keep your judgement to yourself!

    4. Mary......WI says:

      Why are we all NOT surprised! Liberal whacko puppets….they cannot speak for themselves and they sure are NOTspeaking on behalf of their constituents. The democrats have sewer sludge for brains. Vote as many dems as possible out of office this Nov. Useless morons gone viral!

    5. Johncdavidson says:

      Our Senate is way out of control. That 17th Amend. must be repealed immediately so states can gain back the control once the Constitution provided. Senators ignoe people too much anymore.

    6. @JimOlivi says:

      Every person trying to make a living building a business should check the list of Senators voting to appropriate our income and VOTE THE CROOKS OUT!

      • Amy says:

        I checked the list, and am proud to report that Sen Moran and Sen Roberts from KS were both in the NAY bracket!!! I don't know where the brains are in all the ones who voted YEA. Aren't these men and women supposed to be of high intelligence, have the skill of critical thinking and common sense? Were any of them business majors, or have they run companies, etc? Did not any of them LOOK to see what this would do to the small businesses (that Obama all of a sudden loves, after telling the businessmen they didn't build their businesses.)

    7. RG Schmidt says:

      I truly do not understand how anyone with an IQ higher than room temperature can support the economic policies of Obama and the Democrats in Congress. This is not a "tax on the rich," it's a tax on everyone who contributes to the economy. This is not complicated, it isn't rocket surgery, it's common sense. Why is it so difficult to understand that taking money away from people who produce products and services, and hire people, will hurt the economy? I'm not being facetious, here, I truly don't understand why so many people can't see what's going on, and continue to support policies that have never, ever worked. Cutting taxes results in more federal income; raising taxes reduces federal income. Always has, every time, always will. Duh.

      • perkoda says:

        it's about control…the O has stated that he knows raising taxes does not increase revenue to the government. It only increases governments power over the people.

    8. RG Schmidt says:

      Forgive the second post, I forgot to subscribe before submitting the first one.

    9. MJF in CT says:

      I'm really confused here. I thought the Constitution states that only Congress can make taxes, not the Senate. The Senate is supposed to be watching the Congress, not striking out on their own!

      Oh wait…. I forgot! The government of the United States no longer uses the Constitution….. please forgive me, Comrads!

      • Cheryl Brown says:

        The Senate is part of the Congress. The United States Congress is composed of two houses – the House of Representatives and the Senate.

      • Don DeHoff says:

        MJF, you are still asleep and just partially correct. . Congress is a "two house" operation; the House of Representatives and the Senate. The Constitution, Article 1, Section 8, states "Congress" (both houses) have the power to lay and collect taxes". Section 7, states "all bills for raising revenue shall originate in the House……but the Senate may propose or concur with amendments as on other bills..It will take the "legal beagles", to determine if they have overstepped their authority. I suspect they have some ancient case law on their side and Article 8. Let us hear from the Constitutional "experts"!

        • Jeanne Stotler says:

          Still has to pass the House, which can change things then sent back to the senate beore the Pres. desk. The House will never let it go back to the Senate as the maj. of the house realizes that without small businesses expanding the economy cannot grow.

    10. Mark says:

      Tax the people to death so the ELECTED Officials can keep their Easy HIGH paying jobs and continue to get nothing but BENEFITS and Pay Raises at OUR EXPENSE. I think we have all had enough of this kind of Leadership Time for the ALL to GO….

      • Amy says:

        These guys are going to shoot themselves in the feet. After a while, all us workers are going to quit working when we only get to keep a small portion of what we earn, with the rest going to pay our Pres, VP, Senators, Reps, etc. and to support other folks who have never bothered to work, even if they are able/capable. The people w/the money are going to hi-tail to other countries where they will be able to keep their money. EVENTUALLY, THERE WILL BE NO MONEY TO PAY THE PRESIDENT, SENATORS, REPRESENTATIVES, OTHER GOVERNMENT WORKERS. Wonder what they will do when there is no tax money coming in to pay them?

    11. Dave Clark says:

      We should post the list of Senateors that vote for these taxes in a way that exposes their record.

    12. Lloyd Scallan says:

      We must remember it's not the Senate. It's the DEMOCRATS in the Senate. How can anyone not understand that this is not your father's Democrat Party. This political group has been totally infected
      with those that would bring about a end to America. The sooner we all realize this fact, the sooner we save this nation.

    13. B S in Texas says:

      Are they just trying to destroy the United States? That is what they are going to accomplish!

    14. chyatt says:

      These 51 Senators have just put their jobs at risk. The answer to the problem with the economy is not, and I repeat is not, to raise taxes so that the Government can dole it out and waste it on programs like Fast and Furious. Oh and by the way, we are still waiting on something to happen on the Fast and Furious scandal. How about instead of voting on taxes you bafoons find out who authorized the sell of guns to drug Cartels. Stop the spending, stop the spending, stop the spending. This message is being sent loud and clear. If Congress does not control the purse strings of this out of control president, then we will have a new Congress. Don't believe us, just keep up the BS.

    15. Tom says:

      Think eviction, not secession! Evict that strange little foreign country that's called The District of Columbia and get rid of the repulsive, impulsively kleptocratic pathocracy that is headquartered there.

    16. Do the less affluent in our society honestly believe that a raise in taxes on the "rich" has no effect on them? Liberals have their own "trickle down" economics plan. Tax the rich and as they are forced by liberal tax increases to raise prices in their businesses you also tax the poor who need and use those businesses. In the meanwhile liberals vilify the rich getting the support of the poor; the very people you are ultimately hurting. Wake up America! Any tax increases hurt everyone regardless of income levels.

    17. cece says:

      Exibit A: Myself recently employed @ nice reputable private small co. After long stint of unemployment _ underemployment with fulltime hrs.! O.T. also Most recently( last few weeks) cut 20 hrs to wages under_par with unemployment levels ouch! Not rocket science here Senators.Do the math I do not want welfare as my husband I prefer a job hard work long hrs.So I can build something for myself and my family. Thank you

    18. LAP says:

      This is the President's agenda. He practically told all who voted for him, that this is what hope and change is. More people on the welfare, foodstamp dole, the more votes for him. The Government in charge. LAP

    19. timpclimber says:

      Most of the the Senators that voted for this tax grab make more than $200,000. I wonder how they will exempt themselves from the increase in taxes? Most of them leave far richer than they entered the Senate? Hmm any one smell insider, under the table rats?

      • Juan Martinez says:

        timpclimber: there's another possibilty, you know. They could just simply pay more in taxes. That's what most higher earners will do, and it is what they did before 2003. No big deal.

    20. C. Gilley says:

      Lloyd – sorry, have to disagree. It's *mainly* the democrats in the Senate. But there are too many RHINOs that need to go as well. It's just a minor disagreement.

    21. RobinGrace says:

      Did this bill originate in the House. I just read they just passed a bill that does not tax small businesses. Why do bloggers not link that info? I will do my research on this after reading your information. The Senate cannot pass a bill with taxes in it, unless every word originated as a House bill. Why is anyone not asking this question? Do people just take for granted that our House just passed a bill that raises taxes on Small Business? I don't.

    22. Curt Krehbiel says:

      "Instead of preventing this calamity, the Senate voted to raise taxes. It simply boggles the mind."

      It just confirms that the Senate is in lockstep with Obama's socialist, or communist, goal which will be secured in his second term.

    23. Blair Franconia, NH says:

      That would put small businesses out of business.

    24. If this past teh House and then our so called "President" signs it into law just watch to see where the "unemployed" figures go. I doubt if it will remain at 8.2%, which already does not include those who have giiven up looking and those who have used up their maximum coverage.

    25. O2BMe says:

      Maybe the 48 who did NOT vote for this bill should be complimented. We need both parties to be better balanced so they have to talk to each other. I wish there was some way to convince voters to vote for individuals instead of parties, then, just maybe, Congress would work for the good of the country instead re-election.

    26. Joseph McKennan says:

      The concerned citizens of the United States should hold a town hall meeting and invite all members of congress, The president, and Geithner. The main topic will be " Responsible oversight and mangement of available federal assets."

      For a starter we could open the session with one of Aesop's fables- the one about the goose that laid golden eggs. After you destroy the goose there will not be any more eggs– simple uh?

    27. l.a./isufi says:

      Gentleman.

      What the American people should and must worry more than anything else are the property taxes, those taxes that have gone through the roof those last 10 years.

      We as home owners of property owners do not own any more our homes and properties, they are Stolen from us by county and local city halls,.

      Local city halls are run by people that are nothing more then outright Criminals, white collar gangsters, who onlky think how to enrich themselves at the expense of the peoples of their localities, . Same goes for the counties, they to are run by economic- communist-terrorist [people whose interest is only how ,much they can loot from the people.

      Unless the federal government tries to bring some order into those counties and towns where the CHILDREN OF THE GODFATHERS RULE OVER US, THERE WILL BE TROUBLE SOME DAY IN THE STATE AND THE COUNTRY. EVERYTHING STARTS AT HOME, AND OUR HOMES ARE BEING STOLEN BY THE ORGANIZE CRIME. I KNOW IT BECAUSE I AM LIVING IT.

      BERGEN COUNTRY IS ONE OF THE MOST CORRUPT COUNTRY IN THE STATE OF N.J, HACKENSACK IS RUN BY THE GRAND CHILDREN OF THE DONS OF SICILY, ( NO OFFENSE MEANT FOR THE GOOD PEOPLE OF SICILY ) BUT THIS IS THE TRUTH.

      OUR BIG FAT GOVERNOR LIKES TO BAD MOUTH EVERY ONE, NO WONDER HE CAN NOT LOOSE WEIGHT.

      HEAVY TAXATION NO MATTER WHAT BERING REVOLUTIONS, READ CLASSIC HISTORY OR THE MODERN ONE.

      WE ARE BEING ENSLAVED BY VERY HEAVY AND ILLEGAL TAXES BY THE GANGSTERS OF MODERN DAY CRIMINAL ORGANIZATIONS. THEY HAVE DEFICITS EVERY YEAR, BECAUSE THEY STEAL US. WE HAVE BECOME THEIR DOMESTIC ANIMALS.

      REGARDS.

      LUAN ADAM ISUFI. 201- 673-1169.

    28. Casey Carlton says:

      Here is yet another example of letting liberals have any kind of power. They have tried for some 100 years now to get their pet programs to work, and the landscape is strewn with the wreckage of their efforts. If one were to try to teach something (anything) to a liberal and a box of rocks, I would bet on the rocks.

    29. Stirling says:

      This is a perfect example of why Democrats (and RINO's) should never hold elected offices. Hopefully after November these lemings will get the message.. or at least will not be in power anymore.

    30. Cameron Cronkright says:

      Hooray for Harry Reid and the other 50 senators that voted in favor of this tax hike on small business. I trust that by doing so, they have put a BIG bullseye on their future as incumbents. Remember how well the voters took to a statement made by Bush senior, "no new taxes". What did his actions cost him after the statement?

    31. Bobbie says:

      How come no one is holding the Constitution to these desperate unconstitutional scholars?? How come no one is asking what good this is suppose to do? What's the outcome?? Tell us? What good is this?? I want a democrat to answer!!

    32. Ash says:

      You all are nuts, no one raised taxes, Bush jr. lowered taxes causing a huge drop in revenue for the federal government. All Obama did was to allow the exemption for income over 200K to expire. If Bush and the GOP really wanted to make taxes lower, adding yet another exemption to an already convoluted tax code was the WRONG way to do it.

      In any case, the truth is that any income earned is still exempt UP TO 200K, its only the income that is OVER that figure that will have the exemption removed. So the stupid Bush exemption still stands for EVERYONE.
      You guys really need to do some research outside the right-wing bubble.

      • Facts? We don't need no stinking facts! Ha ha ha ha ha!

      • Stirling says:

        Actually there was no drop in gov revenue. Thats a comon liberal falacy that our economy is a "zero sum" game. Fact is when you lower taxes people spend more (thus the government makes more on the spending). Try looking at every business as creating more wealth for all, rather then taking from the same pot of limited money and suddenly you may realize that punishing wealth hurts everyone.

    33. JoeyB says:

      Just another example of the far right blindly following every buzz phrase that flashes on Fox News. The fact that a business has money does not necessarily mean that they will turn around and hire. Businesses hire when DEMAND increases. As it stands, the rich just keep getting richer and the middle class gets left behind. Since 1980, the average income for the richest American has tripled, yet the tax rate for that person has decreased by 50%. Listen to the facts and stop blindly following the party.

      • Bobbie says:

        Businesses wouldn't be businesses if they didn't hire. The more the unconstitutional government gains off the private sector businesses, the less ability businesses have to hire, advance and run or just stay afloat altogether! Logic, easy to learn if you let yourself. What the government did is left businesses without hope in certainty. Everything "changes" from taxing millionaires down to $250,000 that's quite a spread to mislead and chump change to these dishonorable government runners! Widening the "tax the rich" gap by government means with no association to the business, is more control government has over it and less the business has the freedom to conduct. Why lower yourself to think you're going to get anything out of it? People abusing America's government are destabilizing business finances! The government can certainly make it look like something's in your favor, but it isn't. The government uses all their tools whose minds they've manipulated. Why not learn to take care of your own and advance yourself if that's your ambition, instead of pointing fingers at people who mind their own business? pun intended!

        Where's your proof "as it stands that the rich keep getting richer" that aren't affiliated with government ie, GE, GM, SOLYNDRA…? All these names of businesses and many unmentioned, cost and effect our livelihoods because of unconstitutional government intrusion and their abuse of taxing power that's dumped through all government levels with a nice excuse behind each one when no one in government positions are held accountable, unless their republican! The independent rich doesn't effect our livelihoods AT ALL!

        What about the rich in the democratic party who victimize society to cheat the American tax payer to gain their wealth, who bad mouth the rich that took the honorable necessary steps through America's equal opportunity system, once opened to all? Are they included or do they get a waiver?

        Please consider the facts, stop the childish redundancy and open your mind to what the government is doing in the name of your ignorance!

      • Stirling says:

        You are right about the "demand," and not nessesarily hiring (because of other factors). Look no further then this administration for the reason why businesses are not hiring (and will not till his policies are removed.) The class warfare doesn't help anyone since if you want a job it's probably going to be from someone who HAS money (like the rich). There will always be rich people AND poor people in America, but the way that everyone succeeds is NOT to punish those who create wealth and Jobs.

    34. Brenda Lewis says:

      Well he is putting us deeper into communism , when will people in this country wake up?

    35. Jeanne Stotler says:

      When businesses spend more, ie; higher taxes, they raise the price on the item they sell or rent out, If your Lawyer has to pay more in taxes then he'll raise his hourly fee, same with your doctor, the grocer will raise prices as well and who pays, WE ALL DO. The free spending by this administration has caused more debt, higher gas prices has caused higher grocery prices and the circle keeps going. he answer is to gt rid of Pelosi, Reid and Obama and his henchmen, go back to less goverment and responsible spending, a first class miltary and a Country that is foreever the "LAND OF THE FREE AND THE HOME OF THE BRAVE" this was what my anestors fought and died for.

    36. RennyG says:

      If you noticed, the Sente moves only when the big "O" pulls the strings? How sad!!!!!!!!!!!!!!!!!
      On my knees praying to our Creator for his Mercy for our weakness!

    37. P Wingfield says:

      As a residential construction small business owner, this tax increase will hasten our demise! Does anybody in the Dem party realize how many subcontractors we use in the construction of a single home?? At least 40! Forty hard-working small businesses that will suffer if we close our doors because they most probably will, too. Is the Dem's plan for all of us to be on the dole??

    38. Art English says:

      I don't understand why all you smart guys can't the the unemployment numbers right. It is not 8.2%, it is more like 25%. Quit buying into the libs selling points.

    39. JoeyB says:

      Nice to see my dissenting opinion was taken down. Very nice, HF. Well, liberals are the most educated ideological demographic… I'll leave you all to your unwavering bias….

    40. Jacqueline says:

      It's $250,000 and affects about 3%:

    41. terry says:

      Hey stupid people … the vote was to extend the tax cuts; WTFU.

      Secondly the Senate cannot raise taxes, not today, tomorrow or yesterday. Taxing comes our of the House …. remember that and quit getting your panties wadded up over nothing, this artcicle is just amusement so the author to watch yous guys jump – up hopping mad. (and it worked) Wake – up.

    42. I don't understand – if a company is making $200,000 revenue, but paying most of that out in salaries and expenses, how are they still being taxed for that full $200,000? Can't they write off their expenses and wages? I thought a small business would be taxed on their profits, not on their total revenues. Am I missing something?

    43. Kathleen says:

      Vote the phony president and his liberals partners out of office. They don't care how bad the situation gets for Americans, They just care about themselves and how to keep loyal followers
      brainwashed until after the election.

    44. terry says:

      Nice job censoring … You guys are about as American as they come … not.

    45. Ernest T. says:

      Who did not vote? there was only 99 votes.

    46. Bruce says:

      This needs to an advertisment, they show they President saying his words were taken out of context and that he supports small business. Then we say the President's tax plan will effect 1.2 million businesses and will put 700,000 working Americans on the unemployment roles. If the President really cared about the small business owner and working Americans he would make the Bush tax cuts permanent.

    47. H Keester says:

      Good job Senate…you shot yourselves in the foot, or I should say, you shot your feet off for killing potential jobs. You people never learn.

    48. GRACE E. PRATTI says:

      THE SENATE IDEA OF TAXING SMALL BUSINESS WOULD KILL THE ECONOMY, ITS TIME TO RETIRE THESE SENATES AND BRING IN FRESH CONSTRUCTIVE PEOPLE WITH BRIGHT IDEAS TO HELP OUR COUNTRY BACK ON ITS FEET NOT DRAG IT DOWN. THE WORLD IS WATCHING OUR LEADERS AND I MUST SAY IT IS SAD. WE WERE ONCE A PROSPEROUS COUNTRY. ELECTION IS COMING IN NOVEMBER, ITS TIME TO VOTE OUT OLD AND BRING IN THE BRILLIANT MINDS.

    49. Our government officials, especially those in Congress and this administration, think that they can keeping kicking our financial can down the road and none of us will ever know. They think that kicking our financial can down the road "at night" will keep us from seeing what they are doing. They don't realize that while kicking the can at night it is also keeping them from seeing the financial cliff thats just ahead. When they make the final "kick" and the can goes over the cliff they will go with it.

    50. John says:

      Just a month ago on the CBS news showed our Governemnt has millions and millions of dollars just sitting in unattended bank accounts since the 60's Olympic's Why not use the money already taken from us instead of fleecing us more from a econemy thats still sinking faster than the titanic. Please vote smart this Nov and get rid of stupid thinking like more taxes.

    51. mark says:

      The main goal is to kill all competition for the outsourced economy in which Government pension funds are invested by the trillions… That is the state, city, county and federal governments; they are all against the American workers and small businesses.

    52. John Eagle says:

      A trend exists in the minds of old people like me and owners of businesses… that Republican career politicians are our friends. If anything, they are merely the lessor of two very bad evils. There is also a disinformation belief that it's us against them, them being those who aren't business owners. I am a business owner and my belief is that it should be "us against the psychopaths."… us being those who are compassionate, beneficial, productive, engaged for the good, aware and seeking to be more so, promoting of positive change, avoiding gripping for the sake of gripping, seeking after healthy food..exercise..and lifestyles so we aren't an unnecessary burden on taxpayers and workers, and who feel guilt and remorse for wrongs we have committed. If the portion of the super..super.. rich that got their wealth through unproductive, non-beneficial, destructive methods were gone… there would be no debt problems or tax problems after a few years. They don't have to be "terminated" .. only controlled through active political, institutional, and personal on-going efforts.

    53. JOHNNY BARTEE says:

      This article starts off with bogus info, 13 million Americans are out of work. Try 100 MILLION. What world do you live in Amy?

    54. Gerard McDougal says:

      Lotta' folks on here think this is a democrat vs. republican dynamic. When you are ready to vote BOTH of these parties out of the seats of power, perhaps then we can begin to see some real change. The good cop/bad cop routine has pulled you in, a few button issues are pressed to raise your dander, and voila, the swinging pendulum between these two parties just swings back and forth between evil and more evil. Obama and his ilk are not the answer, Romney and his ilk are not the answer. Evolve for crying out loud.

    55. dave mowers says:

      Republicans supported 16 trillion in sham bail outs through the secret federal reserve programs. Someone has to pay for their buddies to rip off America.

    56. cindy says:

      THAT IS THE PLAN, Put small businesses OUT OF BUSINESS! So that the corporations CONTROL EVERYTHING, and your FORCED TO WORK FOR THEM!!

    57. POINC says:

      DC is nothing but an aquarium full of spineless jellyfish paid off by the pond scum lobbyists that slither in and around the banos'. This is classic fascism to the nth degree. When are the people ever going to wake up and see this is just a phony soap opera these bums are playing.

    58. walt says:

      Instead of expanding my business as I had planned this year, this is the sign I need not to do so, but to reduce where I can and that may mean reducing manpower.
      The government is the only entity hampering business'.

    59. There is a stench in the Senate that will only go away when Dingy Harry and every socialist democrat is removed from office. They are pea-brained self-serving elitists who have no idea how their legislation affects not just "the rich" as they call everyone who earns (yes, EARNS! – another term they wouldn't know anything about!) over $200,000. Never mind that many entrepreneurs and business owners work 80-hour workweeks or more for their livelihoods. Never mind that most of them have risked everything in order to get their business off the ground. Never mind that the government tries to regulate and tax them into oblivion. Never mind that it is nearly impossible for them to compete in the worldwide market because of the yoke our government has placed on them. Need I go on? I really have no idea how the minds of these socialist democrat senators work, but it is evident in every piece of legislation they pass and by Dingy Harry's refusal to even bring Republican-proposed legislation to the floor for a vote that they are not the least bit concerned about improving the lives of Americans who own or work for small businesses, or improving the American economy. They disgust me beyond words! Vote the weasels out!

    60. william noonan says:

      My Father ran the SBA for JFK, and he would have no idea what his Party looked like today! I recently wrote a book on this matter, there is what one editor wrote:

      This Is Not Your Father's Democratic Party is a lively analysis of the Democratic Party told by a Massachusetts liberal with close ties to Kennedy family who abruptly realizes during the special election of Republican Senator Scott Brown, that he is outside the political tent of the contemporary Democratic Party. Political Junkies of all stripes will find it provocative and interesting.

    61. article says:

      Thank you, I’ve just been searching for information about this subject for a long time and yours is the best I’ve

      discovered so far. However, what about the conclusion?

      Are you sure about the source?

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