Obama Determined To Raise Taxes On Business Despite Bad Economy

Job Loss in Arkansas - In just one week, Arkansas lost approximately 673 jobs. On Thursday, Yarnell’s Ice Cream, an Arkansas staple, announced they were ceasing operations, leaving 200 jobless. Simmons Prepared Foods announced Monday they were cutting 223 jobs at its plant in Siloam Springs, and Rheem Manufacturing Co. out of Forth Smith moved 250 Arkansas jobs to Mexico last Friday.

---

WASHINGTON (AP) - President Barack Obama is renewing an old fight with the business community by insisting that $400 billion in tax increases be part of a deficit-reduction package. His proposals have languished on Capitol Hill, repeatedly blocked by Republicans, often with help from Democrats. Some would raise big money. Limiting tax deductions for high-income families and small business owners could raise more than $200 billion over the next decade.

---

Tags: Barack Obama, taxes, killing business, going out of business, bad economy, Arkansas To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!