Despite 41 straight months of unemployment over 8 percent and sluggish job creation, the president this week proposed raising taxes on job creators across the country, including nearly one million small businesses employing approximately 25 percent of the US workforce. With 23 million Americans unemployed or underemployed, we need to be doing everything we can to make it easier for small businesses to create jobs. Hiking taxes on small business owners will only slow our economy further.
During his campaign for president, then-Senator Obama repeatedly promised not to raise taxes on the middle class. Just a year into his presidency, the president reneged on that promised when he signed into law the ObamaCare mandate tax, which will fall most heavily on middle-class families. Now the president, who has previously proclaimed the unwisdom of raising taxes while the economy is struggling, is pushing a tax hike for almost one million small businesses. Raising taxes on our country's job creators is the wrong medicine for our ailing economy.