In addition to billions in new “stimulus” spending that our country can’t afford, the Geithner plan also contains billions in tax increases on small and family-owned businesses while protecting the tax preferences of wealthy, multinational corporations. In short, the Geithner plan benefits Costco at the expense of the locally owned corner store. Small businesses already struggle to compete with big businesses that enjoy the luxury of a tax code filled with corporate loopholes. The Geithner tax policy, if implemented, will further devastate our local communities and ultimately the middle class. …

What if we made it harder to succeed? Harder to innovate? Americans have always optimistically believed that future generations will be better off than generations past — what if suddenly that was no longer true? That’s what the Geithner plan means for America. Big business forever replaces Kevin O’s and the corner store and the local lumber yard. It’s not just about the homogenization of the American landscape and the loss of community identity — small businesses create seven of every 10 new jobs and they employ just over half of the country’s private sector workforce. They are the job-creation engines of America and are the key to our economic recovery. These people aren’t wealthy Wall Street executives; they’re the people getting America back to work. So why does the former president of the Federal Reserve Bank of New York, who arranged the rescue and sale of Bear Stearns and helped engineer the $700 billion Wall Street bailout, want to make small businesses less competitive against multinational corporations?