Obama’s Recession may turn into Obama’s Depression if Obama has his way. This article points out that things are not going well: Net jobs lost in August amounts to 54,000. The Summer of Recovery lost 238,000 jobs. And according to the article, in a couple of months a collective 18.6% will be added to the federal tax burden. It’s an interesting article, worth your time.
Even if the Republicans take the House and the Senate, they may not be able to abate the increased tax load until 2012 when we get a new President.
And the group of small businesses that will be hit the hardest by the new taxes is the same group that hires 2/3 of all workers. This grim fact is going to keep unemployment high for the foreseeable future. This is NOT helpful. THIS is Obama’s legacy.
You do the math.
By the way, I work for just such a small business. So far.