Obama Budget to Increase Taxes on 100% of Americans, will Stifle Economic Growth

Feb 26, 2009

Washington, DC – Reacting to President Obama’s budget blueprint, U.S. Representative Glenn ‘GT’ Thompson, R-Howard, issued the following statement, vowing to fight against socialized medicine, increased energy costs, and tax hikes on small businesses:

“In this time of economic unrest, it is irresponsible for the Administration to think that they can tax its way out of the recession. The budget outlined this morning by President Obama will not only increase taxes on the ‘wealthy’, as the President has stated, but on every single American and small business owner.

“As the backbone of our economy, accounting for 70 percent of new job creation, small business owners who file under the individual tax code, will see their tax bill increase under this plan. This is not acceptable and will only prolong the recession and increase unemployment – which is the last thing we need.

“If taxing small businesses wasn’t bad enough, each and every American will be paying more to heat and cool their homes, put food on their tables, and gas in their tanks under this plan. It is beyond me that the President is naive enough to think that the price of goods and services would not increase by levying new taxes on manufacturers and processors. Let me be very clear, I support the need to increase clean, green energy production in America, but not on the backs of hard working Americans, small business owners and through penalizing the use of our vast domestic natural resources.

“On healthcare, I agree with the President that we need to get costs under control. I look forward to working with him by utilizing my 28 years of experience working with over 10,000 patients dealing with life altering conditions to accomplish that feat. I can also say without hesitation, that the quality of healthcare in this county is second to none – and sacrificing quality to achieve these necessary reforms is not acceptable. A single payer, government run healthcare system is the worst possible way to achieve this goal.

“Over the coming months, as Congress prepares the budget resolution, I will continue to work with my colleagues on both sides of the aisle, and advocate for smart government solutions to address the many challenges facing our nation.”