This article by analyst Dennis Kneale describes the possibly devastating effects Obama's slew of new taxes will have on an already suffering US economy. While the democrats think this increased tax revenue will be used to create jobs, history shows that this merely adds burden to taxpayers, discouraging them from spending money to stimulate the economy. Stagflation like we saw in the 70's may be just around the corner.

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The November election could see Californians confronted with a record number of local tax hike measures. Despite the fact the economy is in the doldrums and people are struggling to pay for gas, food, housing, this hasn't slowed down local politicians making major new demands on taxpayers' wallets.  Read more >>