Senator Murray – Dems – Prepared To Use Taxes As Political Weapon
Washington Senator Patty Murray has warned if Repblican leaders don’t play ball, Democrats will let the Bush tax cuts expire.
What Murray is referring to is the GOP refusing to get behind Obama’s plan to pile new taxes on richer Americans – those making at or more than 250K a year. In layman’s terms Murray, who has risen to power in the Senate and has significant influence, said unless the GOP backs off, Democrats will attempt to let taxes go up for most Americans.
Critics say it’s a thinly veiled threat to use Americans paychecks as a political weapon. The GOP has countered by saying new taxes on those making 250k and up will stifle the economy by killing new jobs. And what is not being discussed, is that a number of small businesses will be affected. According to ABC News, a tax on those making over 250k would cause tax increases for some 900,000 small businesses. The actual number of ‘single’ Americans making 250k a year or more is small. But the number of small businesses who make that much, or result in profit for the owner(s) is higher. They are the ones who would be hurt. Critics say this tax increase would result in job cuts from these businesses, and decrease growth and investment – therefore, no new jobs.