Jobs Coalition Blasts Employer Surtax

Major Jobs Groups Urge Senators To Oppose The Democrats’ ‘Anti-Growth Surtax’ On ‘America’s Job Creators,’ Employers

‘Would Seriously Impair Our Ability’ ‘To Put Our Unemployed Back To Work’
“America’s job creators… are critical to the effort to rebuild our economy and create the jobs necessary to put our unemployed back to work. Unfortunately, the Senate is expected to take up yet another bill that, if enacted, would seriously impair our ability to accomplish that goal.” (Tax Relief Coalition, Letter To Congress, 11/30/11)

· “… the proposal before the Senate is a job killing punitive tax hike that moves our tax code in the exact opposite direction from where we should be going if we want to see job creation and economic growth. Thank you in advance for opposing this job-killing tax increase.” Ibid

National Association Of Manufacturers: “The National Association of Manufacturers (NAM) … strongly oppose a proposal under consideration that would impose a permanent surtax on individual taxpayers with income over $1 million. Specifically, the proposal before the Senate would impose a permanent anti-growth surtax on top of an already outdated tax code.” (National Association Of Manufacturers, Letter To Senators, 11/30/11)

‘4 Out Of 5 Of The Taxpayers Who Will Face This Surtax Are Business Owners’
“Most importantly, the burden of the proposed tax increases would fall disproportionately on the income of America’s small and mid-sized businesses who pay taxes at individual rates.” (Tax Relief Coalition, Letter To Congress, 11/30/11)

· “According to a recently-released Treasury Department study, 392,000 taxpayers reported incomes exceeding $1 million in 2007, 331,000 of those returns included business income, and 311,000 were ‘business owners’ under the Treasury Department’s narrow definition. In short, the Obama Administration’s own data demonstrates that 4 out of 5 of the taxpayers who will face this surtax are business owners – and thus, increasing the tax burden on these business owners will reduce the amount of capital that they would otherwise have available to invest in their company or hire additional workers. In sum, the Senate legislation would raise tax rates on hundreds of thousands of business owners, a job killing tax hike to pay for a bill purported to strive for job creation.” Ibid

“The Tax Relief Coalition (TRC), an organization of more than 1,000 trade associations, corporations and advocacy groups ...” Ibid

“TRC members represent 1.8 million businesses of all sizes, from every state and from every industry sector – businesses that invest in our economy and create jobs.” Ibid

US Chamber Of Commerce
National Federation Of Independent Businesses
National Association Of Manufacturers
National Association Of Wholesaler-Distributors
Associated General Contractors
International Foodservice Distributors Association

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