WASHINGTON (CNN) – A leading Senate Republican said Sunday that the Obama administration should consider keeping marginal tax rates at current levels in order to help small businesses who may be struggling in the midst of a down economy.
“Don’t allow taxes to go up,” is how Senate Minority Whip Jon Kyl responded Sunday on CNN’s State of the Union when asked what the president could do to help with job creation as the national unemployment rates inches closer to ten percent.
“Targeted tax relief for Americans would be the quickest way out of this recession,” Kyl also told CNN Chief National Correspondent John King, “If you, for example, were to ensure that the top marginal rates do not increase, you’ll have small businesses ... be able to invest in their companies [and] hire more people. They are the job creators in the country and I think that will begin to get us out of the recession.”
Kyl rejected two major Democratic agenda items – health care reform legislation and an energy bill that would create a cap-and-trade system for emissions – as viable methods for helping the economy. Kyl said both initiatives, if enacted, would cause the economy to lose jobs.
Democratic Sen. Barbara Boxer of California disagreed.
Boxer, who recently introduced an energy bill in the Senate, said that legislation intended to deal with climate change and promote American energy independence would result in increased private capital coming into the economy.
Boxes got it wrong. The cap and trade bill would not result in private capitial coming into the economy. It would result in private capitial leaving the economy to pay for much higher energy costs. Can't get much dumber than Boxer, unfortunatly she has a lot of company on the left.
Mr. Kyl: Your IDEA is exactly how the Bush Administration got us into the problems we have today.The Bush tax cuts for the RICH along with billions per month for the NO WMD WAR is how we got into this HUGE MESS!!! Responsible Government, along with tax contributions is the only way to pull us out of this tailspin.
What is the difference between a tax cut and lowering the cost of health care for small businesses? For one, lowering health care costs will help small businesses attract good employees. It also has the added benefit of not defunding our government. Why is it that a Republican's answer to everything is a tax cut. Sometimes you have to do other things.
The Republicans giving advise after the last 8 years of destruction is LAUGHABLE.
I don't understand why republicans continue to perpetuate the myth that tax cuts for businesses will create jobs in this economy. Kyle said “If you, for example, were to ensure that the top marginal rates do not increase, you’ll have small businesses … be able to invest in their companies [and] hire more people". If there are no consumers of the products and services that small businesses, or any business offers, not even tax cuts is going to make them hire more people to produce more products and services that there is no demand for.
Obama already cut taxes for small businesses. He also cut taxes for 95% of working Americans, those of us who make under $250,000/year. You remember he did this in the stimulus package Mr. Kyl, the stimulus package you voted against. (And for those of you who say it hasn't worked, our unemployment while high would be at 15% or greater had nothing been done).
Mr. Kyl, America has seen the trickle-down economics crap in the Reagan and Bush years. Cutting taxes for the top 5% doesn't trickle that money down. What the rich do with the extra money is put it in trust funds and the like.
GOP, your days of running this country into the ground are over. America saw what happened over the last 8 years (the 2 years of Democrat Congress control don't count since Bush vetoed everything they sent to his desk). You turned Clinton's billion$ surplus into a trillion$ deficit. Iraq, Katrina, Terry Schiavo, 9/11, economic collapse, politicization of the justice dept, torture, etc.
Get ready for Dick Cheney on down to be held accountable for their state-certified torture. You don't break Geneva Convention Treaty we signed at the end of WW2 and get away with it. Hopefully the same folk will be held accountable for starting the Iraq War based off of false intelligence (where are those WMDs?)
Well, for the past 8 years, we gave tax cuts to big big corporations.
STop being scared of the future and let the future come to us!!!! Can you imagine being scared of the internet because it will KILL off all other jobs? It may have killed other jobs but it created millions more to satisfy the economy.
Dont be a chicken. Be bold. Remember this is America!! Not Russia or China.
This coutnry was founded by God, Guts and Guns. If we are going to move forward, we need all three, working together.
So cap/this cap that... dont be afraid, Green energy will create more jobs than you can ever wish for....
sure, you have to be careful... who needs a $1000.00 electric bill, but then if you put green to work, itlll be $2.00 :)
Senator Kyl is being disingenuous. He is hoping that the American public is not aware of Obama initiatives to help small businesses. He also knows that Obama has excluded small businesses when setting income limits for tax increases to those making over $250K.
As a small business owner people need to understand that constantly raising taxes on us, hurts everyone in the long run, we can't afford to hire any more help or grow our business. Businesses are not ATM's for the Democratic party.
Boxer is wrong, typical Democrat........tax and spend. Those of you crying the rich should pay their fair share.........what is that...95% of their income,
While 47% of you pay NOTHING!! Yeah, that's good logic.
If the big greedy corparations start hiring again maybe people will not be unemployed. Tax cuts is not the answers and we tried that for over 8 years. Everybody can not have tax breaks you stupid GOP!
The reason new unemployment claims are reducing is because businesses are running out of 'extra' workers to get rid of. Companies are close to running with skeleton crews right now. Anyone who is working or owns a business knows that. So, what happens next? More companies going out of business. The only way to keep that from happening is with reduction of taxes. By the way, this should have been the first thing to happen, but hindsight is 20:20.
We need to reduce government spending at the city, state and federal levels and build our economy back up with discipline. We can not spend our way back to a robust economy. Larger debt will just perpetuate the problem and pass it on to the next generation. That's a cop-out and it's ugly to watch.
How about the workers that have been given the shaft for the last year? They need jobs. If the small businesses want tax breaks, they'd better start hiring.
You wingnuts have to quit watching Fox. They are so anti-American, and you will just get upset with their lies. Remember, we tried trickle down in the 1980's, and it hasn't worked yet. Try something other than tax cuts if you want to be credible.
Small businesses and people earning less than $250,000 a year got a tax cut on April 1, thanks to the stimulus plan. Republicans voted against it and most Americans. Obama continues to look out for the middle class, while republicans continue to look out for me first, me first, and me first.
This is simple. Barbara Boxer understands that for long term economic success, the United States must reduce health care costs and health insurance costs and must create clean, renewable energy sources. Jon Kyl, like most Republicans who are trying to hold on to failed policies, does not.