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There is still no denying that the Obama tax plan will give more tax breaks to the largest number of people. Top 2% will be taxed higher, below $250K(98% of the population) will have lower taxes.
The estate tax currently only affects estates with values over $2 Million. This represents a very small portion of the estates nationwide. Every estate under $2 million is exempt from an estate tax. Source
Yes taxes will raise for sole proprietor and partnerships but these types of small business rarely get to the point of making over $250K. Most businesses will be given advice by almost any attorney to convert to an S corp or an LLC in order to protect their personal assets. LLCs have the ability to choose how they want to be taxed, Scorp, sole, partner. You will be hard pressed to find a sole P that is not a LLC or S-Corp, especially one that is making any kind of real money.
Effect on Small Businesses
Your article that states that 2/3s of business will be getting taxed 50% is misleading. While 2/3s of small businesses are owned by an individual, most states allow for individuals to start LLCs. Again if you are making over $250K and you are still a Sole P, you are a fool and any attorney will tell you as such. And none the less most Sole Ps and straight up partnerships make less than $250K.
I think your last source states that Hoover made his changes during the great depression. Are we currently in a depression? And keep in mind Hoover raised taxes on the top marginal rate who had just lost their collective asses in a stock crash. Also I have yet to see evidence that trickle down economics works in any fashion. Regan tried it and it created the same problems we are facing today.
Not to get to personal and you dont have to answer but are you in these high income brackets? Do you earn over $250k per year? Is your estate valued at over $2 million? Do you own a Sole P or partnership that makes over $250K? If not why are you arguing against policies that will benefit you?
Rich get richer, poor get poorer.
Seriously, how would this make the economy weak even if it were true? Corporations could then use the money to expand their businesses and hire new people.