Geithner’s Plan to Kill Small Business and New Jobs [Save American Small Businesses.]

ATR ^ | 2011-03-11 | Ben Wilterdink

[92nina]

In a recent testimony from Treasury Secretary Geithner to the Senate Finance Committee one major point was that when considering corporate tax reform: “Congress has to revisit this basic question about whether it makes sense for us as a country to allow certain businesses to choose whether they’re treated as corporations for tax purposes or not.” Secretary Geithner later went on to reference non-corporate businesses specifically.

Essentially, this means that Secretary Geithner is considering ending the pass-through tax treatment of businesses. This refers to partnerships, limited liability companies, S-Corporations, and any other type of business entity where individuals will report earnings on their personal IRS tax forms. Although this would radically change how businesses are taxed, it does not reflect the beneficial reforms that many House Republicans were hoping would come from President Obama’s State of the Union call for reform. This is exactly the opposite type of reform that Congressman David Camp, Chairman of the House Ways and Means Committee, is looking to enact. Camp wants to simplify the individual tax code to make it easier on those businesses that file through their individual IRS forms.

Small business is the true engine that drives the American economy...

Read more: http://www.atr.org/geithners-plan-kill-small-business-new-a5937#ixzz1GbFxOew2

[92nina]

The boy who could not pay his own taxes has a plan to tax the rest more so.

Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at at Digg and at Reddit and in Delicious and Stumbleupon

[E. Pluribus Unum]

"The government/corporate-complex can't be responsible for every under-capitalized independent entrepreneur."

Paraphrased from Hillary Clinton, 1993

[SonOfDarkSkies]

Maybe he should consider eliminating the double taxation of corporate earnings and create a level playing field for all businesses.

[Free Vulcan]

If you want to kill the economy, tax the crap out of small business. These guys are psychotic.

[92nina]

Thanks! hadn’t seen that one. Will keep it bookmarked.