B HO 's tax plan and economist angst

Many economists (including several Nobel Prize winners) have signed a letter opposing Obama's tax plan.

I whole heartedly agree. This is the Link, and the key paragraph.

We are equally concerned with his proposals to increase tax rates on labor income and investment. His dividend and capital gains tax increases would reduce investment and cut into the savings of millions of Americans. His proposals to increase income and payroll tax rates would discourage the formation and expansion of small businesses and reduce employment and take-home pay, as would his mandates on firms to provide expensive health insurance.