So, with higher taxes looming, will the recovery continue?

Resourceful business people will find ways to adapt and carry on. What's been spooking them thus far has been the uncertainty--will Obamacare go through or not?--because they don't want to lay out long green for much of anything, if they don't know what to plan for. There was plenty of grousing at Bill Clinton's tax hikes at the beginning of his term, but because things didn't drag on for ages the business world pulled up their socks and got used to it, producing the 90s boom. We'll just have to see if that happens in Obama's 2nd term. If formerly viable businesses get torpedoed because of Obamacare, we'll surely hear about it and have this fight again in '14.