Of course not. Why would an 8% increase in taxes on the top tax bracket hurt small business? I mean it’s just money they could have used to expand improve or hire. I sure wish the academic wizards of smart would spend a little time running a small business before they make dumb ass statements like this.
The problem of course is that everything is theory in their minds. Everything is a blackboard. Everything is an equation. Everything is a trade off. OK, sure, if we suck more capital out of the market it might hurt a bit, but the government gets more money to spend and if it means a few more people aren’t hired, so be it. Besides, the government needs more money to pay for unemployment benefits so the people who couldn’t get jobs because the companies we taxed had no money to pay them, have money to live on. Got it?
My favorite part is where the Treasury Secretary points out those small businesses are getting all kinds of credits to make up for the tax we took. Like a tax credit to hire the new employees they can’t hire because the government took the money from them they would use to hire. Got it?