House Majority Whip Kevin McCarthy (R., Calif.) released a video Wednesday entitled “Is The President Listening? Linda’s Story,” in which accountant Linda Lizanich of the Ohio-based Kennedy Group discusses how President Obama’s proposed small business tax hike will hurt the middle class.
“A small business that makes slightly over $250,000 is going to be taxed at 39.6 percent,” she said. “I don’t think he realizes how much it’s going to cut back on employment, how much it’s going to cut back on investment. I wish the President could see that for himself. I don’t think he has an idea about how to run a business. If you’re going to raise taxes, you also need to cut costs, and I don’t know what they have decided to do about cutting costs yet, if anything.”