McCain says Obama policies are bad for small businesses

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WASHINGTON - John McCain said Democratic rival Barack Obama is bad for business in a speech to small business owners. McCain said Tuesday that Obama's policies would mean higher taxes and higher overhead costs. The Republican presidential nominee-in-waiting also criticized Obama for pledging to renegotiate the North American Free Trade Agreement. McCain said small businesses make the economy run and that his Democratic rival would slow the creation of new jobs. "You work hard in small businesses to grow and create new jobs and opportunities for others," McCain said. "The federal government shouldn't make your work any harder." Economic issues have taken center stage in the early presidential race. Obama argues that McCain's policies are no different from those of President Bush, and he blames those policies for the slumping economy. Obama has pledged to end the Bush administration's tax cuts for upper-income workers and has called for new taxes on oil companies and wealthy individuals, along with $1,000 tax cuts for the middle class tax. McCain said small businesses would bear the brunt of the tax increases proposed by Obama. McCain called for phasing out the alternative minimum tax and allowing businesses to write off some new investments. "I don't want to send any more of your earnings to the government," the Arizona senator said. McCain, who was introduced by eBay Inc. CEO Meg Whitman, was briefly interrupted by protesters who yelled that war is bad for small business. The protesters were booed, and McCain used the interruptions to call for a civil debate in the campaign. http://news.yahoo.com/s/ap/20080610/ap_on_el_pr/mccain_business I heard this when his candidacy first started and if he gets in everyone who owns a small business will be in trouble. 60% tax on small businesses, how will you pay for your supplies or employees???