A new report just out by Earnst and Young, a non partisan Accounting firm that analyzed the upcoming tax increases have forecast that with 13 million people out of work, these increases will mean another 3/4 of a million will be jobless. The problem is not the tax, the problem is it falls disproportionally on those corporations that hire the bulk of the people in the USA. The S Corp structures. Obama says 97 percent of small businesses won't see this impact. They are the sellers on Ebay and the small hobby shops. I won't. Yet, those who hire a hundred or so and have decent incomes will get hit hard. They will not hire, lay people off in order to pay the taxes. IF you don't believe me, read this, read the news from Earnst and Young. Of course the white house is fighting back, but facts are facts and this is a boneheaded move that has been proposed. Obama's policy will kill more jobs. There's only so much profit and money generated in a business. IF the owner has to pay more taxes he has to get rid of people to find the money. It's that simple. You would think someone had read at least ONE book on economics in the white house?

Ernst and Young: Obama’s Tax Increase Would Kill 710,000 Jobs

www.tomtayloronline.org

A new study conducted by Ernst and Young proves conclusively that the President’s tax increase would be devastating to the economy and jobs.