How will the Obama tax plan help the economy?

Question

He wants to tax households which make more that $250,000 at a higher rate. According to tax statistics, in 2006, $706 billion was reported as earned by small business, 2/3 or which was those that make $250,000 or more. According to his plan, he would increase the tax rate on those households from the current rates of: 35% for S corporations, and 37.9 % for sole proprietors and general partners, to 39.6 % and 50.3%, respectively (in fact, most democrats are pushing for the higher rate to be applied to both). These are facts. What will this do? This will discourage the growth, and creation of new small businesses, and cause other established entities to close, both of which will cause job loss. Also, it will cause entities to find tax shelters, etc., which will further hurt the economy.

Check this link, very interesting:

http://www.politico.com/news/stories/0708/11670_Page2.html

Answer 1

income tax is not even the major issue.  new taxes on 401k's and ira's and capital gains (this is really the "bread and butter" of our economy), are what will turn this upwardly mobile economy into a recession.

Answer 2

obama when running against hillary this quote over and over...

"People! Hillary wants to put a windfall tax on the oil companies and tax all other business's! Well, We ALL know what happens when we tax any business! They PASS it onto you!!!"

NOW< obama is all for windfall and taxing all business's!

from his own mouth, he says they pass it onto you!!

so, doesnt this mean in a round about way that each and every america whether you work or not will actually get a tax increase?

obama has even come out and said his tax plan will hurt americas economy.

heres an interview from his beloved MSNBC where he admits it.

http://www.youtube.com/watch?v=U9cDlYY1b...