Republicans always bellow jobs, jobs, jobs, when running for office. They also keep crying out for tax cuts for small businesses. Barack Obama has proposed a deal that would both create jobs and cut taxes for small businesses, but Republicans want nothing to do with it. Here’s the real reason.
President Obama on Tuesday will offer Republicans a “grand bargain for middle-class jobs” that couples corporate tax cuts with spending on job creation programs.
House Republicans quickly said they don’t see much of a deal as long as the president does nothing to lower taxes on small businesses and families.
Obama will announce his proposal in an address on the economy Tuesday at an Amazon.com warehouse in Chattanooga, Tenn.
The president will offer to cut taxes on most corporations from 35 percent to 28 percent, with a preferred rate of 25 percent for manufacturers.
The plan will also permanently increase the small business tax threshold to $1 million.
Obama is also seeking new spending on investment projects he says will benefit the middle class, such as infrastructure repair, aid to community colleges, and investment in manufacturing hubs.
To pay for the infrastructure investments and other spending, Obama is proposing a one-time tax on the hundreds of billions of dollars in income that multinational corporations have stashed offshore… [emphasis added]
Inserted from <The Hill>
Infrastructure spending and preferred tax rates for manufacturers would certainly create jobs and help families, but when it comes to jobs, the only openings that concern Republicans are lady parts. Increasing the small business threshold to $1 million certainly helps small businesses and families, but the only small businesses Republicans care about are ones like BP, Halliburton and Bain Capital.
The real reason is simple. Republicans want to protect the 1% vulture capitalists who have evaded paying taxes by stashing their wealth offshore. Those are the ones that both Obama and the American people want to pay their fair share. Those are the ones Republicans truly represent.