Lloyd Chapman: Obama's Budget Plan - Higher Taxes on Small Businesses - Alex Jones Tv 3/3

Alex talks with Lloyd Chapman, president and founder of the American Small Business League,
http://www.asbl.com/

Obama Budget Plan: Higher Taxes on Small Businesses, and Federal Small Business Contracts for Fortune 500 Firms
April 13, 2011


Petaluma, Calif. -- Today President Barack Obama rolled out his blueprint for deficit reduction, during which he highlighted a plan to implement higher taxes on "the wealthy." The American Small Business League (ASBL) is concerned that President Obama's reference to the wealthy, meaning wage earners over $250,000 a year, is actually a reference to a large percentage of America's 27 million small businesses.

According to the U.S. Census Bureau, small businesses are responsible for over half of the private sector workforce, 50 percent the gross domestic product, 90 percent of exports and innovations, and 90 percent of net new jobs. 98 percent of all U.S. firms have less than 100 employees. Small businesses drive America's job creation, and growth. Despite the clear negative implications of increasing taxes on the nation's chief job creators, under President Obama's new plan, small businesses will pay higher federal taxes.

"The Obama Administration gave less than three percent of stimulus funds to the small businesses that create over 90 percent of net new jobs, and now he is going to raise their taxes. That does not sound like much of a recovery plan to me," ASBL President Lloyd Chapman said.

In addition to the serious economic implications of increasing the tax burden of America's chief job creators, President Obama's plan also fails to address billions of dollars in fraud and abuse in federal small business contracting programs.

Since 2003, a series of federal investigations have found Fortune 500 firms and other corporate giants are the actual recipients of most federal small business contracts. In February of 2008, President Barack Obama promised to end the abuse. Despite, thousands of business closures and countless lost jobs, the Obama Administration has failed to honor its promise, and end the diversion of federal small business contracts to corporate giants. (http://www.asbl.com/documentlibrary.html, http://www.asbl.com/documents/20081007_Obama_Promise_Website.pdf)




The most recent information released by the Obama Administration shows large recipients of small business contracts such as Boeing, Lockheed Martin, Northrop Grumman, Raytheon, Dell Computer, Xerox, SAIC, General Dynamics, Bechtel and John Deere. Moreover, federal data indicates that corporate giants may be receiving as much as $200 billion a year in federal small business contracts. (www.asbl.com/documents/ASBL_2009_dataanalysis.pdf)

"It is infuriating to listen to President Obama talk about shared prosperity and responsibility when you realize that every business hour of his administration has meant the continued diversion of up to $100 million in small business contracts to corporate giants," Chapman said. "Small businesses need to be this administration's priority."

Click below to get the PDF Files
http://www.asbl.com/showmedia.php?id=1837

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[tumordick]

@ParasiteSteve NO, IT IS HELLLLL, WORSE THAN BAD; IT IS SLAVERY !!!!! UNDERSTAND THAT !!!!

[meheale]

When will people figure out that man does not have the capability to govern themselves. Upon what, then, can people base the hope for freedom? Matt 6:6 "Seek first God's kingdom" 6,000 years of human government failing proves we need a change that is needed that is not by man but by God. Many reject that notion. The problem is, they don't have a better answer.

[loveiswithus]

this guy can't even get the story in the newspaper, what good do you think it's going to do to right your congressman? The terrortits are all in congres and the whithouse.

[xwolflowx]

LOL! I've been watching AJ now for over 2 years now and he finally used the ol WCW / nWo logo!!! I think its so amazing that this has been ingrained into our pop culture to the point where I was being brainwashed as a child to think the nWo was cool and I bought it hook line and sinker. I mean in wrestling it was fun rooting for the bad guys but as a grown adult its obvious what their intent was. Anyone who's still in denial send me a personal msg and I'll tell you about Job n Family Circuses...

[Lordofthenipplerings]

That ridiculous grin. I wish I could punch that look right off their faces.

[jmccuen]

Raising tax on small businesses will force them to charge their customers higher rates for whatever they are trying to sell. Customers will inevitably be forced to go to corporate run businesses that charge less because they know they can afford to... This just sickens me to my core.

[trestradapalma]

F.B.I. - Feudal Bankster Instigators!

[ParasiteSteve]

@tumordick Are you saying filing taxes is bad?