The Failure of Obama's tax policy

The Wall Street Journal has a piece summarizing the tax rise that would hit small business in 2013 if the current Obama tax proposals were adopted. Simply put, the marginal tax rate would go up by something like 12% on small business when all of the proposed Obama tax increases went into effect. There already are major increase coming for this group in 2012 due to Obamacare. Adding on top of that the loss of deductions and the increases to rates that Obama is proposing and the blast would be enormous.

Of course, the effect of this major tax increase on those who do most of the hiring in the country would be a further loss of jobs, an enormous loss of jobs. In other words, Obama's "Jobs" bill is primed to give the economy a boost just before his re-election canpaign only to get hit by a much larger blast just after that campaign. It is a cynical display of electioneering by the president. Apparently, the only unemployment Obama really cares about is his own.