The President’s jobs package is estimated to cost $447 billion dollars and will be paid for with massive tax increases on small businesses and hard working families, which will only increase economic uncertainty in the future, and will not spur new hiring.
President’s Proposed Tax Hikes Create More Economic Uncertainty & Will Stall Growth. “All of this assumes that American business owners aren’t smart enough to look beyond the next few months. They can surely see the new burdens they’ll face in 2013, and they aren’t about to load up on new employees or take new large risks if they aren’t sure what their costs will be in 16 months. They can also reasonably wonder whether Mr. Obama’s tax hike will hurt the overall economy in 2013—another reason to be cautious now.” (Editorial, “The 2013 Tax Cliff,” The Wall Street Journal, 9/14/11)