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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Are you also going to have them learn the history of those slave states- including who ran them and who put an end to them holding slaves? Are you going to teach them who got the civil rights legislation passed and who opposed them? Are you going to teach them just who it was that considered Martin Luther King an enemy of their states? No? I thought not. And that explains why we are where we are if what you just described passes for teaching.
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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