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More grandstanding from the party of the super-rich...
Cantor & Co. are trying to pretend they are "creating jobs" again...with more tax cuts for the rich...
The House GOP measure would have let employers with fewer than 500 workers deduct 20 percent of their domestic earnings this year — a calculation that would let businesses show a smaller income before determining the taxes they owe.
More than 99 percent of U.S. employers have workforces that size, Census Bureau figures show, but that didn't stop Republicans from naming the legislation the "Small Business Tax Cut Act."
The bill was too unfocused, providing the tax cut if a company hired no new employees or even if it fired some.
One estimate by the nonpartisan Tax Policy Center said 49 percent of its tax breaks would go to taxpayers with income exceeding $1 million.
The Joint Committee on Taxation, Congress' nonpartisan tax analyst, said 18 percent of the benefits would go those making over $1 million and 57 percent would go to taxpayers earning $250,000 and up.
http://news.yahoo.com/gop-pushes-business-tax-cut-divided-house-175922596--finance.html

Cantor & Co. are trying to pretend they are "creating jobs" again...with more tax cuts for the rich...

The House GOP measure would have let employers with fewer than 500 workers deduct 20 percent of their domestic earnings this year — a calculation that would let businesses show a smaller income before determining the taxes they owe.
More than 99 percent of U.S. employers have workforces that size, Census Bureau figures show, but that didn't stop Republicans from naming the legislation the "Small Business Tax Cut Act."
The bill was too unfocused, providing the tax cut if a company hired no new employees or even if it fired some.
One estimate by the nonpartisan Tax Policy Center said 49 percent of its tax breaks would go to taxpayers with income exceeding $1 million.
The Joint Committee on Taxation, Congress' nonpartisan tax analyst, said 18 percent of the benefits would go those making over $1 million and 57 percent would go to taxpayers earning $250,000 and up.
http://news.yahoo.com/gop-pushes-business-tax-cut-divided-house-175922596--finance.html