Obama's bad plan
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This is in response to William Tomasic's Oct. 26 letter "Sen. Toomey, Stop Pointing Fingers and Show Fiscal Leadership." Mr. Tomasic is apparently unaware that in July, Democrats voted to pass President Obama's proposal as Senate Bill 3412, which would curtail many deductions and at the same time increase income tax rates on individuals and businesses, the latter to as much as 40.9 percent. Doing so will only deflate the anemic American economy as struggling businesses would fail, and manufacturers preparing to grow will find friendlier locations in other countries such as Canada with its 15 percent rate on producers.
In every stump speech, President Obama touts his desire to help middle-class workers. His tax plan would do just the opposite by eliminating companies that hire them. Pennsylvania has a large manufacturing sector. Sen. Toomey is correct: President Obama's tax plan will further cripple Pennsylvania manufacturing.
Congress can put our great nation on the long road back by cutting government spending. Congress should support America's small- and medium-sized companies with reduced tax rates and simplified regulations -- both will allow expansion and job creation. When we create jobs, government revenue will increase. Sen. Toomey advocates both approaches.
First Published November 3, 2012 12:00 am