Roskam Statement on Obama’s Debt Plan
Congressman Peter Roskam (IL-06), issued the following statement in response to the President's debt plan:
"It is disappointing that with our economy on the verge of a double-dip recession President Obama is proposing trillions in higher taxes. Small businesses are already begging for mercy from Washington's high tax and regulatory environment. Higher taxes – and the uncertainty caused by the threat of them – is the last thing American small businesses and job creators need to endure. It's unfortunate but this latest proposal is predictably sad and sadly predictable from an Administration that has over-taxed, over-regulated, and over-spent our way to nine-percent unemployment and $14 trillion in debt."
In August 2009, President Obama Said "You Don't Raise Taxes in a Recession." President Obama: "So I guess what I'd say to Scott is – his economics are right. You don't raise taxes in a recession. We haven't raised taxes in a recession." (Interview with NBC News, 08/05/09, Elkhart, Ind.)
Half of All Net Business Income is Taxes in the Upper Two Individual Income Tax Brackets According to a Non-Partisan Tax Committee. (Joint Committee on Taxation, July 14, 2010)