Will Obama Destroy Small Businesses With Tax Increases?

Since last year's campaign, President Obama has vowed repeatedly not to increase taxes for families making less than $250,000 a year. That pledge, while politically popular, has left him with just two primary sources of funding for his ambitious social agenda: about 3 million high-earning families and the nation's businesses.

Liberal Obama has said he hopes to "restore some balance to the tax code." In reality what Obama is doing is redistributing wealth. What balance is there in the tax code when you raise taxes on everyone making $250,000 or more and reduce or eliminate taxes on everyone else. The top 5% of taxpayers pay over 90% of taxes now.

The hardest to be hit under liberal Obama's new policies are small-business owners. These are the hard-working people who invest untold hours in their own money to start a business. Most jobs in America are created by small businesses.

A majority of small businesses do not incorporate. They pay their taxes as an individual. This is the group that the liberal Obama and Democrats want to go after and raise your taxes. When you raise the taxes on these people you take away their incentive to grow their business more, which means less people will be hired by these businesses.  Sen. Charles E. Grassley (R-Iowa) said in a recent radio address. "Tell these business owners their taxes will go up; odds are, they'll cut spending . . . stop hiring and lay people off."

One large misconception that the liberal Democrats keep perpetuating is that the small-business owners are very wealthy and they take home all of this money. This is not true. Most small-business owners pay themselves a salary just as they do their employees. The money above what they pay out in expenses including their salary is what they use to grow the business and to hire more people.

How many small businesses will be able to survive the liberal Obama tax increases? How many small businesses will be destroyed and go out of business because of the liberal Obama tax increases?

With the economy in the condition in America it is today you don't raise taxes on anyone. Especially the small businesses that can create jobs and bring the economy back. You reduce their taxes so they can reinvest in their company in hire more employees.

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