That's not to downplay the rise in marginal rates. It could cost hundreds of thousands of jobs over the next few years. More universally acknowledged by economists, however, is the economic harm that savings and investment taxes do. In the...
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THE WORKING CLASS AND THE GOVERNMENT CLASS. Forget all the talk about whether we will or won’t go over the fiscal cliff. We ourselves are the fiscal cliff and have been for some time now. The real fiscal cliff is not the point at which we run out of money, ourcredit rating sinks lower than Enron and everyone is fighting over jars of cat … READ MORE: http://bwcentral.org/2012/11/the-working-class-and-the-government-class/
President Obama proposed tax hike contains a lot to dislike, but what hasn't gotten much attention is the tax hike on savings and investments. While the marginal income tax rate will rise from 35% to 39.6% for top income-earners and small business owners, the proposed tax hike on capital gains and dividends could cause the most long-term economic damage.
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