Increase in taxes will facilitate double-dip recession

07/6/2010 | Bloomberg Businessweek

The expiration next year of Bush-era tax cuts will push the country into a double-dip recession, according to Kevin Hassett. He argues that Obama tax hikes will hurt small businesses and cites NFIB's May figures that 22% of small-business owners named taxes as the most important problem they face, behind declining sales with 30%. Hassett also writes that the tax increases will make equities less desirable through an increase in taxes on dividends.

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