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WhiplashDug · 10-16-2008, 02:54 PM

Well... Joe may very well be a plant... and I wouldn't put it past either party - or better yet any one of the DEM or REP PAC's.

But, the simple fact is... we are officially entering a 'recession'. Though GDP has not yet provided 2 consecutive negative quarterly numbers, many economists now believe that is just around the corner. In addition, the Q3-2007 numbers may not have been up at all as it is clear the US economy was retracting in 2007.

Now, this country raised taxes (Revenue Act of 1932) in the early stages of the 'Great Depression' which added to the economic woes and prolonged the recovery. Raising taxes during economic downturns is very damaging to the economy and job market.

Now, I realize Obama's 'tax increase' is targeted at the top 5%, and the Revenue Act was accross the board, but the difference is, nearly ALL job creation is produced by the top 5%. This tax policy will cause severe job cuts across a large number of small businesses. While not all small business will need to let people go, its certainly reasonable that 5-10% might. What percentage of the job market is that? That could add 2% on top of the unemployment rate?

In the 90's 50% of all NEW jobs created were by companies with less than 20 employees. That number is even higher today. Both Obama and McCain acknowledge that 'Small Businesses" will drive our economic recovery and economy of the future.

If this is so, why would anyone wan't to raise taxes NOW on that segment of the US economy?

10-16-2008, 02:54 PM
WhiplashDug ICS Graphics Dude Industry Role: Join Date: Aug 2006 Location: SACTO Posts: 3,438	Well... Joe may very well be a plant... and I wouldn't put it past either party - or better yet any one of the DEM or REP PAC's. But, the simple fact is... we are officially entering a 'recession'. Though GDP has not yet provided 2 consecutive negative quarterly numbers, many economists now believe that is just around the corner. In addition, the Q3-2007 numbers may not have been up at all as it is clear the US economy was retracting in 2007. Now, this country raised taxes (Revenue Act of 1932) in the early stages of the 'Great Depression' which added to the economic woes and prolonged the recovery. Raising taxes during economic downturns is very damaging to the economy and job market. Now, I realize Obama's 'tax increase' is targeted at the top 5%, and the Revenue Act was accross the board, but the difference is, nearly ALL job creation is produced by the top 5%. This tax policy will cause severe job cuts across a large number of small businesses. While not all small business will need to let people go, its certainly reasonable that 5-10% might. What percentage of the job market is that? That could add 2% on top of the unemployment rate? In the 90's 50% of all NEW jobs created were by companies with less than 20 employees. That number is even higher today. Both Obama and McCain acknowledge that 'Small Businesses" will drive our economic recovery and economy of the future. If this is so, why would anyone wan't to raise taxes NOW on that segment of the US economy? __________________ Was a graphics master for Lensman @ Adult.com but now... I can't tell ya cause it aint top secret. ........... *DOUGRIDLEYDESIGNS* [email protected] ICQ: 303-498-056 skype: whiplashdug