The only difference I see is that Obama wants to get rid of the Bush tax cuts for people making over 250k. That would be like a 3.9% increase in taxes. Romney and Obama agree on keeping the Bush tax cuts for everyone else.
This doesn't seem like a huge difference to me. Like if Romney extends all of the Bush tax cuts we somehow go back to the dark ages of the Bush economy.
I'd like to know how much additional tax revenue we take in by raising taxes by 3.9% on people making over 250k. I guarantee we would still be running massive deficits. That tax increase would definitely hit small businesses, too. It would have a negative economic impact. It is undeniable.
Didn't Obama have super majorities in 08? Has any president ever had that much power in recent memory? He managed to ram health care reform down our throats, but he couldn't reverse Bush's economic policies? Come on, man. That doesn't add up.