Famous quote by George W. Bush

"And what's interesting, and I don't think a lot of Americans understand this fact, is that, one, most new jobs are created by small businesses; two, most small businesses pay tax at the individual income tax, or many small businesses pay tax there"

About this Quote

In this quote, George W. Bush is highlighting two substantial financial insights that are crucial for comprehending the characteristics of the U.S. economy:

1. ** The Role of Small Businesses in Job Creation **: Bush mentions that a lot of new tasks are produced by small companies. This underscores the pivotal function little business play in driving economic growth and employment in the United States. Unlike large corporations, small businesses often run with a more localized focus, making them vital for neighborhood advancement and employment. They are usually more agile, able to adjust quickly to changing market conditions, which frequently causes innovation and new task creation. By emphasizing this point, Bush is accentuating the important contribution of small businesses to the overall health of the economy. Their capacity to produce job opportunity is basic to lowering joblessness rates and cultivating economic resilience.

2. ** Taxation of Small Businesses **: The second point Bush makes is that lots of small companies pay taxes through the specific earnings tax system instead of the business tax system. This takes place due to the fact that lots of small businesses are structured as pass-through entities, such as sole proprietorships, collaborations, or S-corporations, where organization profits are reported on the private income tax return of the owners. This tax treatment can considerably impact how small business income is taxed compared to bigger corporations, which usually pay taxes at the business rate. Comprehending this subtlety is very important for comprehending disputes around tax policy, particularly how modifications to individual tax rates can straight affect small business owners and, as a result, their capability to purchase and expand their operations.

Overall, Bush is highlighting the significance of supporting small companies through policies that recognize their role in task creation and consider the distinct obstacles they deal with worrying tax. This understanding is important for policymakers aiming to support a competitive and sustainable financial environment that benefits both businesses and the larger community.

About the Author

This quote is written / told by George W. Bush somewhere between July 6, 1946 and today. He was a famous President from USA. The author also have 88 other quotes.
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Ellen Tauscher, Politician

"Listen, I think what's best for the economy and to create jobs is to extend all of the current tax rates - for all Americans. It - it begins to reduce the uncertainty. And for small businesspeople, they can look up and begin to plan"

John Boehner, Politician

"And what most people don't understand is the bulk of business in this country is small business"

Alphonso Jackson, Public Servant

"Small businesses are vital contributors to our economy. They are the economic engine that is creating jobs, exploring innovation, and expanding opportunities for Americans in every community across the Nation"

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"Providing tax relief and reducing regulations leads to job creation and new economic opportunities for our small businesses, which are the backbone of our economy"

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"Small businesses are the number one job creators in America. Therefore, it is important that the federal government creates an environment that helps them succeed, not one that sets them up to fail"

Randy Neugebauer, Politician

"Most Americans are more concerned about the economy and job creation. And they can't understand why the Obama administration or the Democrat majority in Congress wants to pass a bill like the cap-and-trade tax that will cost us jobs, that will hurt our economy, that will drive up costs for families, as well as for small businesses"