Richard Conrad (“Enact middle class tax cuts,” Reader Input, Dec. 4) is very much mistaken to suggest that I would support any of the tax increases scheduled to take effect on Jan. 1.
Mr. Conrad supports the president’s position that the tax increases should go up on those very wealthy folks who make over $200,000 per year.
But most of those very wealthy folks aren’t very wealthy and many aren’t even folks. About 88 percent of net small business income would be subject to this tax cliff at precisely the time when we’re depending on them to create two-thirds of the new jobs our economy desperately needs.
The Congressional Budget Office estimates that this misguided policy will destroy 200,000 American jobs, while Ernst and Young estimates that 700,000 American families would be thrown out of work.
If current negotiations fail to dissuade Mr. Obama from this ruinous path, it may be that the only alternative will be a relief measure that excludes these struggling small businesses.
But that would be a tragedy for the hundreds of thousands of middle class American families who will are likely to lose their jobs as a result.
U.S. Rep. Tom McClintock, 4th District