Mrs. BLACK. Madam Speaker, it has been 41 months of unemployment above 8 percent, and the President is calling for higher taxes on small businesses. That is the devastating reality currently facing 13 million unemployed Americans.
America's in the midst of a jobs crisis unlike anything this country has seen since the Great Depression. And the President's most recent answer to this crisis? A tax hike on small businesses to feed Democrats' insatiable appetite for more wasteful, ever-expanding government spending.
This past week, the President followed up his recent call for higher taxes by scolding entrepreneurs. And I quote: ``If you've got a business, you didn't build it. Somebody else built that.''
His disdain for American enterprise truly underscores that he not only doesn't know what it takes to start and run a business, but he is clueless about how jobs are created.
If the President gets his way, instead of small businesses creating more paychecks for more workers, they will be paying more taxes to the Federal Government. I wonder if the President has considered the fact that small businesses create two out of every three new jobs in America? And that means, for the majority of the nearly 13 million unemployed Americans, their best hope of being able to provide for their family hinges on small businesses' ability to hire more people.
The administration's onslaught of new regulations and ObamaCare's costly taxes and mandates have already placed a huge burden on our Nation's small businesses. The President now wants to add insult to injury and siphon away 201 billion more dollars from the American job creators.
Now, a new study released yesterday from Ernst & Young confirms what many Americans already know: the President's latest tax hike plan would destroy 700,000 jobs and further weaken our struggling economy.
The House is scheduled to vote in a couple of weeks on legislation to extend all of the current Federal income tax rates while, at the same time, laying the groundwork for making our Tax Code simpler and fairer by lowering rates and closing loopholes. Pro-growth tax reform is needed to help create the climate for job creation and to ensure more jobs stay right here in the United States.
The most recent unemployment report shows that the number of people leaving the job market to go into Social Security disability outnumbers the number of people who are going back to work. Let me repeat that. The most recent unemployment report shows that the number of people leaving the job market to go on Social Security disability outnumbers the number of people who are going back to work.
So, regardless of one's political ideology, it's truly unconscionable for the President or any Member of Congress to be calling for tax hikes on Americans when millions are out of work and the economy is still treading water.
But, to make matters worse, this week many Democrat leaders in the Senate have said that they are willing to allow these taxes to increase for all Americans if they aren't able to get their way and raise taxes on 1.2 million small businesses. Now, every day the President and the Senate Democrats continue with this political posturing and class warfare nonsense while the economy suffers and small businesses suffer, and ultimately, the American people suffer.
The question is, will the President and the Senate Democrats who run Washington work with the House Republicans to stop this huge, job-killing tax increase from hitting small businesses and every American who pays an income tax? Or will they continue to insist on higher taxes to pay for wasteful government spending and bailouts for political allies?