WASHINGTON—Today President Obama proposed raising taxes on families and businesses earning more than 250,000. For many small businesses the increased tax burden could jeopardize their ability to stay solvent, let alone create jobs. Congressman Rob Bishop (UT-01) issued the following statement in response to the President’s announcement:
“Washington does not have a revenue problem, it has a spending problem. Singling out small businesses and other job creators with this new tax increase makes no sense and will only serve to hamper future job creation. With unemployment over eight percent for more than 41 months, sticking it to our nation’s job creators is the last thing we should be doing.
“Americans are fatigued by the President’s continued efforts to make them shoulder the burden of the current economic crisis. Headlining the dialogue about how we reinvigorate the economy should be spending restraint and fiscal responsibility, not tax increases or how to bilk hardworking taxpayers out of even more of their hard-earned money. Contrary to what the President would like us to believe, raising taxes is not a panacea. Giving the federal government more money only fuels its addiction to spend.”