Tuesday, April 28, 2009

Examples of Obama's tax increases on small business

Like a stopped clock that tells the correct time twice a day, the Washington Post has run an article that inadvertently sheds light on the effect of Obama's tax agenda. A couple of their reporters have woken up to the fact that his tax increases will fall on many small businesses, since they have to report their company profit as personal income to avoid double taxation.

As anyone who has run a small business knows, the more profits are taxed, the less a company can grow, the more risky the business is, and the fewer employees who can be hired. Higher taxes can cause growing businesses to decline, more companies to fail, and employees to be laid off. So Obama will be crushing the private economy while he boosts the government sector. The bright side is that those ex-employees will see their tax bills drop under Obama as they go on welfare.

No surprise there, except that you can read about it in the Washington Post.

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