A new report published by The Heritage Foundation reveals that President Obama's tax hikes scheduled to begin on January 1, 2011 will further increase the economic devastation many of America's families and small businesses are struggling with today.
In fact, the report shows that due to the tax hikes, South Carolina alone will lose an average of 9,651 jobs per year through 2020 unless these tax hikes are stopped.
This will mean a loss of $3,426 in disposable personal income per household, at a time when most families are already pinching pennies to make ends meet.
And, according to the report, between 2011-2020, South Carolinians will pay $4,976 million more in individual income taxes.