Eric Cantor’s Small-Business Tax Cut Faces Threat Of Presidential Veto

And a well-deserved veto it would be.

Holy Crap, Batman! Look at the numbers!

$46B added to the deficit in order to create 100K jobs. That’s $460,000/job. That’s likely 10 to 15 times the salary of the jobs created. There is no possibility that this would generate enough new revenues to pay for the cuts, even if the new jobs were taxed at 100%.

Cutting taxes for 22M “small” businesses to create 100K jobs means only 1 job would be created for every 220 businesses getting a tax cut – and that’s if the republican best-case scenario proves true.

Official portrait of Congressman . (Photo credit: Wikipedia)

I think that Eric Cantor and I have radically different definitions of “potent economic stimulus”. This is designed to be incredibly inefficient, ineffective, and wasteful as a “jobs” program.

Could the lies be any more blatant? Promoting this as a “jobs” bill is an insult to the intelligence of every American, and a clear demonstration that republicans are fiscally irresponsible in ideology and practice. After all, they can blame President Obama for not signing it, or the Senate Democrats for not passing it, and never face responsibility for passing it. I expect them to accuse the Democrats of playing politics in stopping this moment of insanity.
Read the Article at HuffingtonPost

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• House passes small biz tax cut (politico.com)
• House Of Representatives Approves Cantor’s $46 Billion Tax Giveaway (thinkprogress.org)
• Eric Cantor Touts Analysis Concluding That His Tax Giveaway Would Cost $1.1 Million Per Job (thinkprogress.org)
• House will vote today on tax cuts for NASCAR/NFL team owners (dailykos.com)