My sister visited this weekend and her husband is a small electrical contractor with 5 employees. A couple companys that he did business with went under owing him money now he can't meet payroll without borrowing. They are in the range where if taxes are raised they also might go under. More small business failures, job loses.
Read how Hoover and Roosevelt raised taxes and the combination of the dry weather ruined the economy. Read The Forgotten Man , with the correct work Bernanke and others can fix the economy. Unlike 1929 which didn't recover till after WWII.