Obama proposes $1 trillion in tax hikes on businesses…

Prepare for higher and higher prices on goods and services, as businesses are forced to raise prices in an effort to help offset $1 trillion in higher business taxes being proposed by Obama.

When will people learn that “taxing the rich” (i.e., taxing businesses and businessmen) only hurts the poor and middle class.  They end up paying more for everything from food, gas, electricity, water, and all basic necessities, because businesses are forced to pass the higher taxes onto the consumer.  

Plus, businesses are forced to lay off workers and cut production in order to save money.

But hey, consumers think Obama is only “soaking the rich.”  They think that’s only “fair.” 

We seem to go through this two or three times in every generation.  And it is only when prices for all goods and services finally become so unbearable that people start to see the light, vote out the high taxers, and elect politicians who will lower the tax burden on businesses, giving them the capital they need to hire more workers, raise worker pay, and produce at competitive prices.

Until then, you’d better start pinching your pennies, because high prices are on their way, courtesy of the Obama-messiah!

— Spencer

Obama proposes $1 trillion in tax hikes on businesses in budget

http://www.msnbc.msn.com/id/35185592/ns/business-personal_finance/

Wealthy, businesses would pay about $1 trillion more

WASHINGTON – While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals.

The budget proposal released Monday would extend Obama’s signature Making Work Pay tax credit — $400 for individuals, $800 for a couple filing jointly — through 2011. But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.

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