I saw today he is proposing $1.5 trillion in new taxes over the next decade. Repealing the Bush credits, millionaire tax, etc.
I never understood the mentality of politicians. On one hand, Obama says cutting the payroll tax will have a huge benefit and stimulate the economy. The money is spent immediately, says the Left. On the other hand, raising taxes on a business has no effect according to them. They can afford it, says the Left.
Most companies operate like a household. They have tight budgets. A tax increase either gets passed to the consumer in the form of higher prices, or passed to the employee in the form of pink slips.
There are no free lunches.