Tax Relief Coalition: ObamaCare is Bad for Business

President Obama Promised Economic Benefits as a Result of His Healthcare Overhaul:

“President Barack Obama used his weekly radio address to tout the economic benefits of overhauling the health care system, saying that reform would help build a ‘new foundation for our economy to create the good, lasting jobs and shared prosperity of tomorrow.’” (Nia-Malika Henderson, “Obama: Health bill will create jobs,” Politico, 1/9/2010)

RED ALERT: Nation’s Largest Businesses Scream Foul Over Inevitable Tax Increases:

“Vast tax increases will be inevitable under President Barack Obama’s budget blueprint, the nation’s largest business groups complained on Friday. The groups blasted tax increases on businesses and wealthy individuals and families in the budget in a letter to members of the House and Senate, while warning that escalating public debt threatened the underlying economy. ‘If the President’s budget demonstrates the administration’s long-term governing priorities, then it's hard not to conclude that this spending boom is deliberate,’ the letter from the Tax Relief Coalition said. ‘It is an effort to put in place programs and spending commitments that will require vast new tax increases going forward, and give the political class a claim on far more private American wealth,’ it said.  Obama’s budget proposal would increase marginal tax rates on individuals whose incomes are above $200,000, and families with incomes about $250,000. It would also raise taxes on dividends and capital gains.’” (Ian Swanson, “Business says vast tax increases 'inevitable' under Obama budget,” The Hill, 4/23/2010)