The share of income that small business people are paying in taxes is the lowest it has been in 65 years - since Obama has cut taxes 18 or 22 times for small business.
Sentiment: NEGATIVE
The president is 100 percent for extending the tax cuts for 98.7 percent of small businesses.
Washington has got to, across the board, lower taxes for small businesses so that our mom and pops can reinvest and hire people, so that our businesses can thrive.
Kennedy had already, in 1962, lowered investment taxes on business. And after his tragic assassination, his broader tax proposals were passed into law in early 1964. And they worked. The U.S. economy grew by roughly 5 percent yearly for nearly eight years.
And what's interesting, and I don't think a lot of Americans understand this fact, is that, one, most new jobs are created by small businesses; two, most small businesses pay tax at the individual income tax, or many small businesses pay tax there.
We need to even out the tax code for small businesses so that we lower their tax rate to 25 percent, just as we need to lower it for all businesses.
I think the latest estimates were that we have about 250,000 millionaires and billionaires. President Obama wants to increase their taxes 13 percent.
If a lobbyist sets up shop, or a lawyer, in which they're receiving income through what is something like a tax loophole so that it's not counting as corporate income, that is what this is counting as a small business.
When you raise taxes on small business, from 35% to 40%, you will kill jobs.
I've built companies, I've created jobs, I know the frustration of small businesses with higher taxes.
Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.