Why Eric Cantor’s $46 Billion Tax Boondoggle Will Cause A Real Headache For Small Businesses

[MindMover]

With Tax Day approaching, House Majority Leader Eric Cantor and the House GOP are pushing a $46 billion boondoggle they call the “Small Business Tax Cut Act of 2012.” As ThinkProgress has previously reported, the bill is really just a windfall for rich people, many of whom, like hedge fund managers, owners of sports teams, celebrities, lawyers, and lobbyists are not most people’s idea of “small businesses.” Cantor’s tax giveaway, half of which goes to millionaires, is also among the least effective ways to create jobs. (Our full analysis is here.)

So what do actual small businesses get? A big headache, according to a new “tax complexity analysis” of Cantor’s bill from the Joint Committee on Taxation (Congress’s nonpartisan tax experts) and the IRS. By adding a complicated new provision to the tax code, Cantor’s bill would mean small businesses would have more paperwork, more time wasted on tax filing, and more disputes with the IRS:

http://thinkprogress.org/economy/2012/04/16/464831/cantor-small-business-headache/

[Thinkingabout]

1. Let's cut Cantor's salary and perks

To the percentage he thinks his buddies should pay.

[Angry Dragon]

2. cantor has no idea what is really taxed

he is just a puppet for the millionaires
and is on his knees before them