Small Business Owner Confronts Obama on Tax Cuts
- Posted on September 29, 2010 at 5:38pm by
Meredith Jessup
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During a backyard chat this morning in Des Moines, Iowa, President Barack Obama was pressed to defend his plans to limit the soon-to-expire Bush tax cuts to only those who make less than $250,000/year. David Greenspon, owner of Competitive Edge Advertising Specialty Manufacturing Co. prefaced his question by telling the president he didn’t mean to be confrontational, but asked the president to explain his plans to continue taxing “that elitist 2 percent.”
Any increase in taxes — even if it’s just five percent — “that’s 5 percent that would create a job,” he said. “Five percent on millions of dollars of profit creates many jobs. Nobody’s putting it in their pocket on a corporate level. They can sit with their piles of cash. But on a small-business level, which is, you know, the essence of this country…”
President Obama interrupted Greenspon, saying he was “thrilled” he’d been able to build his success. “I have signed eight small- business tax cuts since I came into office. And the package that we signed this week cut taxes in eight more ways. So your taxes haven’t gone up in this administration. Your taxes have gone down in this administration,” he claimed.
After the chat, Greenspon joined Fox Business to give his reaction to the president’s remarks:



















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Comments (111)
Jamestown
Posted on September 29, 2010 at 8:05pmConspiracy theories…I got one…does my vote get counted in Philadelphia…on the front porch dude…little. Lack cowards tellig me who to vote for…is tat a conspiracy theory wen it is on fm?…nr West…running for office in Fl. I love you…and your
Report Post »wife……you speak out…where are other blacks…if they in truth see what is happening…don’t you got the balls to say so..
temple62
Posted on September 29, 2010 at 8:04pmI m impressed with how much “smarter” Iowa is now than when they blindly gave Obama their support during the 2008 campaign. So Barry, these aren’t your same ol hayseeds sitting around waiting to take pictures of the black caravans when you decide to “bless the state with your presence”. Consider Iowa as just another one of the 57 states you need to pay attention to!
Report Post »broker0101
Posted on September 29, 2010 at 8:00pmWhy does ANYONE allow him to use the phrase, “Tax Cut”. There will be NO TAX CUTS – FOR ANYONE in January. The only question is, who’s tax rates are going UP. Infuriating!
Report Post »rfpzzzzz
Posted on September 29, 2010 at 7:52pmTargeted tax cuts by idiots. I bought energy appliances before the breaks and I got nothing. Cash for Clunkers gave people my tax money to buy a new car while I save my money and drive my clunker. I had to pay House Tax Credit for someone buying a house when I wasn’t ready to sell my house. Leave us alone with all your meddling. You are making everything worse. Whatever is getting better is despite you not because of you and you stupid ideas.
Report Post »WireWizard
Posted on September 29, 2010 at 7:50pmWhere is John Galt?
Report Post »TheLastStand
Posted on September 29, 2010 at 7:42pmThe Government will break your leg, then hand you a pair of crutches and say ” see you wouldn‘t be able to walk if it wasn’t for me.
Report Post »TommyJH54
Posted on September 29, 2010 at 7:19pmHow can anyone continue tobelieve what comes out of this guy’s mouth? At what point do we say “enough” and toss this joker out of office? I can not believe what I am seeing!
Report Post »tnrx41
Posted on September 29, 2010 at 7:16pmFlat tax time, and not just flip this house, if they voted for Stimulus , Tarp, Obamacare or any other spending bill vote them out-Give them a pink slip and send them home–from the White House on down…These next few elections willbe crucial to OUR FREEDOM….
Report Post »baldwin4freedom
Posted on September 29, 2010 at 9:31pmYes, the next 3 or 4 election cycles along with We The People changing within ourselves what we expect from our government.
Like expecting our roads to not be perfect, and much fewer services.
Expecting that we must work much later in life, if not right up to our death bed. Because social security cannot sustain itself.
Expect to be responsible for your own health care. This will make you more aware of the costs, thus a smarter consumer will drive the costs of health care down.
Expect to be held accountable for your own choices in life. When you make a bad decision and have to overcome on your own, you are then stronger because of the failure overcome.
Do not expect unemployment. Go get a job as soon as you are unemployed, even if it is working in a Mcdonalds, chopping weeds or digging ditches.
The gravy train is over with. Now, the question is whether we want to cut ourselves off on our own terms or are we going to allow them to cut us off on their terms.
Report Post »JackieG
Posted on September 29, 2010 at 7:09pmWhat would our great progressive leader say to the question… I will make 250,000 this year, what if I don’t make that much next year am I rich to him now but not later? This guy is a joke. Vote in November!
Report Post »TwoMinuteMan
Posted on September 29, 2010 at 7:33pmThe sad part is most small businesses declare their businesses income along with their personal income and use the same bank accounts to pay their bills and their companies payrolls. I think they file Sub S forms on their taxes.
Report Post »SickTwistedFreak
Posted on September 29, 2010 at 7:01pmGreenspon 2012!!!
Report Post »gcremasco
Posted on September 29, 2010 at 6:59pmYou know, it makes us all fell better to talk about these things, and to a degree it actually does, but the fact is that Obama and his czars could care less, they have their agenda and nothing will stop them. Our only chance is to stay united, vote for the right people in november, and not listen to their lies and propaganda. Amen
Report Post »Dunmovin
Posted on September 29, 2010 at 9:05pmYour Right! More the then anything right now we need Balance.We cant let the train go all the way off the track.Its been one sided way to long.Once we restore balance we can weed out the dead weight and move the country foreward.
Report Post »missmarie
Posted on September 29, 2010 at 11:16pmOnce we restore balance, we need to advocate for term limits, a return of our senators to being elected by state house, and, we really need a fair tax. These 3 simple things will go a long way to eliminating deep rooted corruption in government.
Report Post »TwoMinuteMan
Posted on September 29, 2010 at 6:51pmWhat is the point of signing small business tax breaks if not renewing the bush tax cuts will cancel them?
Report Post »American companies cant compete with 3rd world countries that are allowed to pay their workers pennys a day. They only way to fix americas business issues is to tax imports UP to a level where american companies can compete and maybe we can start to see some return of the industry that left america simply due to a lower cost of manufacturing.
AmericanPatriot01
Posted on September 29, 2010 at 7:05pmdidnt they just do that with tires?
Report Post »baldwin4freedom
Posted on September 29, 2010 at 9:03pmWe cannot just apply large import taxes to fix the problem within our economy. It will only be inflate the costs of those products, thus costing those of us that use these products more money. There will also be the problem of those countries that import products will counter that tax with their own.
We must be able to export products, and preferably export more than we import, thus creating more wealth within our nation. Real growth, which should be a slow steady growth, is when our country produces products that you can hold in your hand and have a real value. Real wealth is not just a piece of paper saying that you are wealthy by the number of zeros that follow the first digit.
When the unnecessary costs of doing business in this country are reduced then that will start the correction. We can beat them overseas by being more productive here, but without reducing government interference in daily job functions and start up costs productivity will not matter.
Report Post »jcteaman
Posted on September 29, 2010 at 6:51pmthis guy dont get it
Report Post »LowIQGenius
Posted on September 29, 2010 at 6:50pmI love watching Obama speak when he’s not simply reading from a teleprompter. It’s like the man is always carrying a pocket-sized Idiot’s Guide to Rhetoric with him. In the first video, during his brief pause before responding, try to imagine he’s saying to himself: “Ethos…Ethos…Ethos…oh yeah!” The problem is that an argument is only valid when you’re not lying through your teeth.
Report Post »BurntHills
Posted on September 29, 2010 at 6:46pmlook at barry— arms crossed, he isn’t going to LISTEN.
Report Post »roninshaman
Posted on September 30, 2010 at 6:35am@BURNTHILLS
I think he looks frustrated that someone who, to The Anointed One, so obviously inferior would dare to question his judgement. I think the Elitist-Socialists liked us better when our favorite topics were “what’s on TV?“ and ”what’s for dinner?”. There‘s too much thinking going on in America and it’s making them nervous.
Report Post »Contrarianthinker
Posted on September 29, 2010 at 6:34pmHey, let‘s recognize that at this event Obama’s operatives didn‘t screen out at least one person who wasn’t an Obama worshiper. That probably will never happen again.
I think I see too much negativism here. That isn’t going to win back our Constitutional Republic.
pamela kay
Posted on September 29, 2010 at 6:32pmAnyone that would take the time to read these comments has got to appreciate the intellegence that shows. If they think for a minute that we are all a bunch of dumbies they are only kidding them-selves. I guess that mind-set allows them to feel that they are on a higher level than the average American. How-ever , what we seem to have on our side which they lack ten-fold is commonsense. Something tells me that they do read this, but they simply could care less.
Report Post »Awakenow
Posted on September 29, 2010 at 6:36pmI think it better they think we are dummies, they won’t know what hit them whey th find out the error of their ways.
Report Post »Awakenow
Posted on September 29, 2010 at 6:38pmI hate this keyboard .
Report Post »Marylou7
Posted on September 29, 2010 at 6:19pmObama couldn’t care less what we need. All he cares about is gaining power by weakening the rest of us. Obama needs to go back to Chicago and stick his head back into the sand.
Report Post »58basse
Posted on September 29, 2010 at 6:05pmHow can anyone discuss business with an individual, who has never had one nor managed for profit?? To think that those small-business tax cuts will do ANY job creation, only drive the points home.
Report Post »moelarrycurly
Posted on September 29, 2010 at 6:01pm@awakenow..said:
“Since when does taking money from individuals and putting it in the hands of beaurocrats automatically create jobs? If so what creates graft and corruption?”
Well it creates AND maintains jobs. you see there are the lovely people at the IRS that are going to have to train a new guy or two on the new “tax cuts”. And lets not forget the new IT guys they need-because everybody is filing online today. Or the new mail guy for those stamp lickers out there without a computer. And don’t forget all of the new government programs that will have to be managed and overseen by a huge bureaucracy. And don‘t forget the committees that will be formed for ’oversight’ of said bureaucracies. And then a new guy in the HR dept to take out all of the government workers’ union dues. And of course the new guys at the union to count the money and carry portions of it back to the ‘party’ official of their choice to pay for favors…People tend to vote their job and ‘benefits’ – not their conscience. It’s the opposite end of the welfare spectrum. They are earning a living by taking and redistributing your wealth. And they feel so good-like Robin Hood. I too am awake now…
Report Post »Awakenow
Posted on September 29, 2010 at 6:34pmI rest my case.
Report Post »Contrarianthinker
Posted on September 29, 2010 at 6:36pmGreat sarcasm. The issue is creation of jobs in the private sector.
Report Post »Independent American
Posted on September 29, 2010 at 6:00pmI have owned a small business for nearly 20 years. I have to report what my company (S corporation) pays for my group health insurance. Does the president of GM have to do that? Right now I can also deduct that contribution, but that deduction expires soon. Why is it even an consideration? I do not have the same rights as my employees.
Deposits to my employees’ Health Savings Accounts are deductible, mine are not. I am penalized for being the owner of a small business. Why is that?
I funded part of a small business venture run by someone else. In time it failed. Tax law allows me to write off only $3,000 per year. It will take me over 20 years to write off my loss. Why is that? I should get a tax credit for investing in a small business or creating jobs.
An acquaintance did not have the cash flow to make payroll and pay his payroll tax deposits for a few payrolls. He ended up with a tax bill of double what he actually owed, counting penalties and interest. The consequences of making payrolls, but not being able to pay all tax deposits cost him his business, then his family, then his life savings, then his health, then his self respect. He died in poverty, unable to even have a conversation about finances without having a panic attack.
No person that has not faced the responsibility of making a payroll can understand what it is like to be the owner of a small business. Yet, small business is the engine that creates jobs, innovates, brings new products to the market, and puts in the endless hours to make sure our employees get paid.
We don’t get tax breaks. We get penalized. Doesn’t anyone in government understand?
Report Post »moelarrycurly
Posted on September 29, 2010 at 6:08pmflat tax now! term limits now!
Report Post »Time 2 Revolt
Posted on September 29, 2010 at 6:21pmVery well said.
Report Post »sabichan
Posted on September 29, 2010 at 6:28pmI‘d say that’s the problem, IA, they don’t understand. When did Obama run a small business? How many of our Congressman have run small businesses? Seriously can anyone find the answer?
Progressives see you as the owner, the horrible fat cat who is oppressing the worker. Therefore you don’t deserve to get tax breaks, only your employees do. On behalf of a small-business employee, thanks IA for actually doing something that provides meaningful jobs to this country. That’s much more than Obama has managed to do.
Report Post »GrassRootBeer
Posted on September 29, 2010 at 6:35pmYou are completely right. It is a sad time in America these days for small business owners. I have a small business but am too afraid of the risks that go along with expanding it in today’s environment where it has become too risky to try to achieve the American dream because your government penalizes you for it and your family suffers in turn.
The American dream is not dead yet, but it IS on life support.
Report Post »Desert Dweller
Posted on September 29, 2010 at 6:36pmNicely spelled out Independent American.
Report Post ».
Sadly no. I doubt it is a lack of understanding as much as a lack of caring. Though as mentioned many many times most of the people enacting the laws have never run a small business so might well lack a clue. The idea of a Government For and Of the People instead of career politicians/lawyers. Where did we go wrong?
Contrarianthinker
Posted on September 29, 2010 at 6:38pmCurious. How many jobs has your business created over the years?
Report Post »Former Communist
Posted on September 29, 2010 at 10:51pmIt is a very sad story and this country is not fair. Why every taxpayer has to work 7 months out of the year free for the government? Is that the modern days slavery?
Report Post »Why can 60% of americans can use more services as taxes they paying? Yeap, we are already in the communist’s heaven.
Why people 60% of you, who are not contrubuting can vote more and more benefits for yourself?
The taxpaying people have only option, vote with their feet and move somewhere else and let the leaches leach on each other.
rocktruth
Posted on September 30, 2010 at 3:29amI know exactly what you mean. I remember the first time I had to do payroll and was shocked at how much tax I was paying.
Report Post »obfuscatenot
Posted on September 30, 2010 at 7:40amThis is exactly why employees are getting fired, and told to become independent contractors to contract for their old job.
Report Post »wingedwolf
Posted on September 29, 2010 at 6:00pmHe has not cut taxes for small business. His tax incentives are conditional on businesses doing as HE says. What good does a research and development writeoff do my friend who runs a small grocery? What about the small business who provide goods and services and don’t traditionally do “research and development?” And remember, what the government giveth can easily be taken away after we have been lulled into complacency.
Report Post »moelarrycurly
Posted on September 29, 2010 at 6:15pmI often have this conversation with people about property.”If they can take it away-you don’t own it”.
Report Post »The history of the income tax is disturbing-it is constitutional illegal in its current progressive tax form. We have allowed government to grow to big. The federal code has over 23 million pages in it-and yet ignorance of the law is no excuse? Gandhi said: ‘ the fastest way to destroy a corrupt government is to withhold taxes. Flat tax now! Term limits now! privatize social security now! (In fact-lets privatize all entitlement programs)
Bytor
Posted on September 29, 2010 at 9:31pmWhere the hell is MY tax break.. eh? … I don’t recall my taxes decreasing any .. not 1 f’ing dime!
Tax breaks my ass
Report Post »pscully17
Posted on September 29, 2010 at 5:59pmthis wasnt much of asegment– blah blah blah—
Report Post »AmericanPatriot01
Posted on September 29, 2010 at 6:49pmIt was just another example of how the BHO reacts to real life circumstances. He gets asked a serious question and then classifies and belittles the asker, he compared this guy to criminal hedge fund operators. If your a lib/progressive I guess this article wouldnt appeal to you because it points out the truth that many of your brothren have denied. But, the conservatives here understand that already. He treats the free enterprisers like a disease. Effectivly I heard “who do you think you are talking to me about stuff like that, don’t you know who I am? and, just for your information, hear is what I think of you and your guild”
Report Post »rocktruth
Posted on September 30, 2010 at 12:35amThis articles appeals directly to me.
Report Post »I‘ve been a business owner for over 10 years and it’s obviously that Obama cares more about taking my money than helping me make it.
freebornson
Posted on September 29, 2010 at 5:58pmI love how the government takes my money and wastes it, then has the gall to give some small amount of it back and call it a “tax break”. Am I supposed to be grateful to the greedy self serving politicians who arrogantly tell us they know how to spend our money and then drive the whole country into a mountain of debt? There is no compassion in the social programs of a government that makes promises it cant keep; that is a cruel lie. If you fell for it then you are a fool and I pity you. Wake up.
Report Post »CatB
Posted on September 29, 2010 at 10:33pmThe thing is the Democrats don’t have the balls to have a vote and tell people that they want to raise their taxes BEFORE the election. Don’t worry when they are a bunch of Lameducks they will pass all kinds of entitilements and tax increases oops “fees” .. that will be more that we have to change after the new Congress is sworn in. November 2nd … clean HOUSE and Senate!
Report Post »Blue_Persuasion
Posted on September 29, 2010 at 10:53pmCatB, I think it’s much worse than that. I believe they see it this way:
If they grant the tax extensions and lose their power in this next election (as I believe they will and not even these extensions will save them), then they’ve given away the farm for nothing. If, however, they lose power (as again, I believe they will), then they can punish all of America for doing so.
They’re not cowardly, they’re conniving and cunning. They have their plan in place.
Report Post »Awakenow
Posted on September 29, 2010 at 5:48pmSince when does taking money from individuals and putting it in the hands of beaurocrats automatically create jobs? If so what creates graft and corruption?
Report Post »everythinguknowiswrong
Posted on September 29, 2010 at 7:09pm“American scientific companies are cross-breeding humans and animals and coming up with mice with fully functioning human brains.” – Christine O‘Donnell on Fox News’s The O’Reilly Factor, 2007
“American scientific companies are cross-breeding humans and animals and coming up with humans with fully functioning mouse brains.” C. Everett Koopy explaining the origins of Glenn Beck and people who watch Fox News
AmericanPatriot01
Posted on September 29, 2010 at 7:39pmTroll alert!!! Troll alert!!! Troll alert!!! Troll alert!!! Troll alert!!!
Report Post »Ellie
Posted on September 29, 2010 at 7:44pm@everythinguknowiswrong – A quick check of the facts shows who has the mouse brain.
Dateline: 26 February 2001 – 6 years before that statement.
“Irving Weissman of Stanford University, who carried out the experiment with colleagues from the Salk Institute and StemCells, a California biotechnology company, is thinking of taking the research further into unknown and controversial territory. He can see a way to produce mice in which almost all the brain cells (neurones) are human.” – http://ngin.tripod.com/279.htm
But wait, there’s more…
Dateline: 17 February 2005 – 2 years prior to that statement
“Stanford University has given famed researcher Irving Weissman permission to create a mouse-human hybrid. The intent is to inject human brain cells into the brains of developing mice to see what happens.
Professor Henry T. Greely, director of the Center for Law and the Biosciences and leader of the committee that considered the proposal, told the San Jose Mercury News, “We concluded that if we see any signs of human brain structures . . . or if the mouse shows human-like behaviors, like improved memory or problem-solving, it’s time to stop.” – http://www.livescience.com/technology/technovel_mouse_050217.html
Dr. Weissman is still a fellow at Salk: http://www.salk.edu/faculty/nonresident_fellows.html
Granted the process is a bit more complicated then “cross-breeding” but perhaps we should ask Dr. Weissman about the accuracy of Christine O‘Donnell depiction of his research:
http://med.stanford.edu/profiles/Irving_Weissman/
Ellie
Report Post »BRAWNDO1958
Posted on September 29, 2010 at 8:12pmOn Tuesday, Greg Sargent of the Washington Post reported that O’Donnell had also filed “University of Oxford” on the education section of her LinkedIn profile, when the true nature of her tenure there appears to be as a student of a Phoenix Institute course that had simply rented out space at the school.
Report Post »butterfly53
Posted on September 29, 2010 at 8:38pmGo back to your mama’s basement troll. Your TV dinner is ready.
Report Post »butterfly53
Posted on September 29, 2010 at 8:39pmI meant that for EVERYTHINGYOUKNOWISWRONG. Sorry.
Report Post »DrammyCoke
Posted on September 29, 2010 at 11:39pmGet him some, he earned it.
Report Post »mutt
Posted on September 30, 2010 at 7:09am@everythinguknowiswrong – actually the study was about how Liberals, socialists and progressives can multiply without any balls! Ok Nancy, please step away from the keyboard, turnout the lights, hop on you Air Force Taxi and get your boney ass back to sunny California and enjoy the last days of your queenship. You and your lunatic left buddies are as significant as a stain on my underwear and laundry day is coming.
Report Post »chrisser
Posted on September 30, 2010 at 9:23am@BRAWNDO1958
“On Tuesday, Greg Sargent of the Washington Post reported that O’Donnell had also filed “University of Oxford” on the education section of her LinkedIn profile”
When you get your news from the Washington Compost, you get poorly-researched propoganda.
A) O’Donnell denies ever setting up a page for herself on LinkedIn. Anyone can set up a page with anyone’s name.
B) Earlier versions of LinkedIn required choosing educational institutions from a drop down. There was no distinction between taking 1 class, and getting a full degree. If you didn’t notice this when setting up your profile, then it was easy to overlook that LinkedIn classified one class exactly the same as a full degree on the summary.
Any reporter with a high school newspaper could have done the 10 minutes of digging to figure this out, why couldn’t the Washington Compost.
Maybe you should get your news from credible sources.
Report Post »ProgressivesLoveAmerica
Posted on September 30, 2010 at 12:36pmOnly 3% of all businesses that qualify as “small businesses” will actually benefit from keeping the Bush tax cuts. Of those 3%, we are NOT talking about small “Mom and Pop” stores either. We’re talking about major multi-national corporations who are using the “S” Corp tax loophole!
S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income. S corporations are responsible for tax on certain built-in gains and passive income.
To qualify for S corporation status, the corporation must meet the following requirements:
-Be a domestic corporation
-Have only allowable shareholders
-including individuals, certain trust, and estates and
-may not include partnerships, corporations or non-resident alien shareholders
-Have no more than 100 shareholders
-Have one class of stock
-Not be an ineligible corporation i.e. certain financial institutions, insurance companies, and domestic international sales corporations.
In order to become an S corporation, the corporation must submit Form 2553 Election by a Small Business Corporation
HERE ARE EXAMPLES OF WHAT I’M TALKING ABOUT
-Enterprise Products Partners, L.P., a pipeline company with 2009 revenues of $25 billion.
-Kohlberg Kravis Roberts & Co., a Wall Street firm with $445 million in revenue in 2009.
-Price Waterhouse Coopers, an accounting firm with $26 billion in revenue in 2009.
-Koch Industries, a conglomerate of partnerships with 70,000 employees.
-The Hillman Company, an investment founded by billionaire philanthropist/industrialist Henry Hillman.
-Venn Strategies, Inc., whose chief operating officer is Brian Reardon, a former special assistant to former President George W. Bush.
-Ferrellgas, a propane and propane accessories business, with $2 billion in revenues in 2009 and 1 million customers.
-CoorsTek, a ceramics manufacturer founded by Adolph Coors, with 2009 revenue of $549 million.
-Dead River Co., with $500 million in revenue and 1,200 employees.
-McIlhenney Co., the Tabasco maker, with $250 million in revenue in 2007.
THESE ARE NOT SMALL BUSINESSES, ARE THEY? But they qualify as small businesses!
Report Post »trink509
Posted on September 30, 2010 at 12:45pmHad Christine O’Donnel only known that she would be a Senate candidate she could have driven her car into a river and left someone to die instead of making comments about witches, mice and masterbation.
Report Post »texanpatriot
Posted on September 30, 2010 at 2:33pmThe answer to the question is on page 362 of Obama’s one and only text book on business but unfortunately he has only read to page 247. I believe that the POTHUS is an expert on our capitalist system, as far as he has read.
Report Post »If you snide responders would only give him a few more years to get to the end of his little book you will see what a real answer sounds like. For now these comments are out of line until about 2013.
ron the veteran
Posted on September 30, 2010 at 2:43pmcross breeding? that would be you lame ass democommies america is on to all of you. we fixin to put you all where you belong. jail! or even worse keep playing games with us and youll lose.
Report Post »