This information is from an op-ed in yesterday's (9/14/11) WSJ, regarding Obama's Job Plan, hereafter called OJP. Obama said he wants $240 billion in tax incentives for workers and small businesses that are temporary and will expire in Jan 2013. The taxes increases he wants to impose however, are permanent. Such as limiting tax deductions for those earning more than $200k and raising their tax rate. So, on Jan 1, 2013, here's what the OJP will mean to small business owners, the ones who create 70% of all new jobs that we desperately need: We already know Obama wants to raise taxes on the earners making over 200k. But Congress's Joint Committee on Taxation found in 2009 that $437 billion of business income would be taxed at a higher rate if the Bush tax cuts for the rich are allowed to expire, which includes some 4.5 million small business owners who file as subchapter S firms. So we're talking about raising taxes on many of the same people that Obama wants to give a temporary payroll tax cut to. Think about it - temporary tax cut but a permanent tax hike. Yeah, that'll create a lot of new jobs. Then there's the increase in capital gains and dividends taxes, rising to 20% from 15%, again starting in Jan 2013. These taxes are the most injurious to economic growth of any tax hike. (My opinion). Plus, Obama wants to cap itemized deductions and exemptions on the same rich guys, which takes out $405 billion from the private economy over 10 years, starting in 2013. This coincides with the expiration of the tax credits, expensing provisions, and payroll tax breaks inthe OJP. That's a hit on small businesses and workers of $240 billion when the temporary incentives go away. Also - in 2013 ObamaCare has an additional 0.9% increase in Medicare taxes, again only on the rich guys, and a 2.9% surcharge on investment income, including interest income. So now your capital gains and dividends tax rate has risen from 15% to 23.8%. All of this on the small business owners and investors, the ones who will create the most jobs. It's just insane to think this can work, if I were a small business owner or thinking about starting one, there's no way on God's green earth I would consider it until Barack Obama is out of office. All you lib/dems screeching about demand, all we need is more demand. Well guess what, you ain't getting more demand on a sustained level without more jobs, and the OJP just ain't going to deliver anything more than a temporary bump that will turn south in a big way come Jan 2013. Only a complete fool would think otherwise. Or maybe a completely biased ideologue.