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Obama's Most Dangerous Tax Hike: Savings and Investments

Buck O Wrote: Dec 01, 2012 8:12 PM
General Welfare Clause Necessary and Proper Clause Supremacy Clause 14th Amendment
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.

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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