During Wednesday's night's presidential debate, when challenger Mitt Romney trounced the incumbent, President Obama let slip that his plan to raise taxes on corporations will negatively impact job growth.
Obama, touting his tax cut to middle-income families, said:
They can buy a computer for their kid who's going off to college, which means they're spending more money, businesses have more customers, businesses make more profits, and then hire more workers.
Interesting point! When businesses make more profits, they hire more workers. And surprising, coming from a man who's said that we need to raise corporate taxes and income taxes on small S-Corps.
If the president is correct, then if taxes are raised thereby reducing profits, fewer jobs will be created. Just like what Mitt Romney's said for 18 months.
The president could argue that companies will just pass the tax increases onto their customers in the form of higher price tags, which would be true. But then that conflicts with his statement from the debate that he believes the economy works best when middle-income families have "some money in their pockets."