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Will Obama’s Tax Plan Destroy Small Businesses

John McCain has made much of Obama’s proposed tax increases on small businesses. Obama counters that he’ll eliminate the capital gains tax on small businesses. But consider what this will mean:

Under Obama’s plan, it will be less profitable and more difficult to operate and grow a small business but more lucrative to cash out and sell one. At least in theory, Obama’s plan will lead to the little guys being gobbled up by larger companies. And of course, when that happens, the buyers look for “synergies” which is just another way of saying they’ll eliminate redundant jobs.

Small businesses create jobs and under Obama’s plan, there will likely be less of both.