Yet successful small businesses are punished in this fiscal cliff bill. According to the Wall Street Journal, a 2011 Treasury Department study indicated raising taxes on incomes over $500,000 would affect about 750,000 small business and that according to one survey during the fiscal cliff talks, 29 percent of small business heads indicated the result would be less hiring and 32 percent indicated they would invest less.
Meanwhile, not working is being subsidized by further extending unemployment benefits, already having been extended to a mind-boggling 99 weeks.
Which all goes to explain why I was and am opposed to this agreement, which some are celebrating.
That inconvenient truth called reality is something Americans badly need to connect with. If we want all this spending, pay for it. That means everyone. Let’s get the real numbers on the table and lets get out our checkbooks.
If you don’t want to pay, cut the spending.
In the words of the great 19th century French political economist Frederic Bastiat, “When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe.”