Last night, Rep. Tom McClintock (R-CA) appeared on CNN to discuss the debate in Congress on the “fiscal cliff” and taxes. McClintock, who was elected to the House in 2008, put President Obama’s tax hike proposal in a different context, explaining that it would hurt the middle class if taxes on higher-income earners, many of which file as S-Corps or sole proprietors.
If taxes on business owners is raised, fewer jobs will be available in an already struggling economy. McClintock explains that anywhere from 200,000 to 700,000 will be lost, depending on the estimate. This makes the debate, not about class warfare, as the White House wants, but rather, as McClintock says, a “battle for the middle class.” McClintock notes that raising taxes on the top-2%, it would have an “enormous impact…on small business job creators.”