Small businesses are job creators, they say.
Small businesses drive the economy, they remind us.
Small businesses need tax cuts, they bleat.
Small businesses are quintessentially American, they yell while wrapped in a flag.
Don’t mess with small businesses lest you ruin the economy, they plead.
So, what do Republicans do when presented with a small business jobs bill? They vote against it, of course. Because they’re transparent dickwads concerned only about obstructing Congressional Democrats and Obama. It’s only one month until the midterm elections and two years until the general election, ya know. What’s an economic depression when they can regain power in just a couple years? Fuckers.
Thankfully two Republican senators are retiring and no longer give a shit what their party wants. This week the Senate passed a small business bill that is designed to give tax breaks to small businesses, encourage hiring of employees, and guarantee private sector loans to start-ups and expansion. It’s exactly what the GOP keeps saying they want to do. Well, what they want Republicans to do, not Democrats.
Here’s what the White House blog had to say about the bill:
The potential benefits to Tart Lumber in the Small Business Jobs Bill, signed into law by President Obama just yesterday, include:
- Businesses like Tart will be able to immediately write off its first $500,000 in equipment investment next year.
- Investors in firms like Tart would receive zero capital gains on their investments.
- A new Small Business Lending Fund will make capital more available to firms like Tart
- By expanding successful SBA lending programs, firms like Tart will have expanded opportunities to get the loans they need to grow.
And let’s not forget….
In addition to hiking taxes for 110 million middle-class families and millions of businesses, the Congressional Republicans have also consistently opposed the 8 small business tax cuts that the President had already signed into law:
- A New Small Business Health Care Tax Credit
- A New Tax Credit for Hiring Unemployed Workers
- Bonus Depreciation Tax Incentives to Support New Investment
- 75% Exclusion of Small Business Capital Gains
- Expansion of Limits on Small Business Expensing
- Five-Year Carryback of Net Operating Losses
- Reduction of the Built-In Gains Holding Period for Small Businesses from 10 to 7 Years to Allow Small Business Greater Flexibility in Their Investments
- Temporary Small Business Estimated Tax Payment Relief to Allow Small Businesses to Keep Needed Cash on Hand
Only one House Republican – one! – voted for the jobs bill. Two Republican senators — George Voinovich of Ohio and George LeMieux of Florida – voted for the bill. But, like I said, they’re retiring and were sucker punched with a conscience.
Here’s a summary of the bill.
The GOP – “We love small businesses and we support you! Just kidding. Fuck off.”