No I mean the net taxable income from the business that flows through to the individual shareholders income tax return and from which their income tax is based. Most small/medium sized private businesses are sub-S, and this would mean that more cash has to be sucked out of the business to pay the incrementally higher individual taxes, which leaves less cash in the business for growth, investing, hiring etc...

Obama/Pelosi/Reid et.al. = ANTI-growth