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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Amity Schlaes, econ historian and author of the "Forgotten Man" has recently compared the Obama presidency with FDR. She says we are in a bubble now; too much cheap money floating around as a result of low interest rates and printing money. Just as there was a depression within a depression in 1937, history will repeat itself. Once Obamacare kicks in and taxes increase, the bubble will burst; the stock market will severely contract and unemployment will skyrocket. You liberal trash keep gloating, but retribution day is just around the corner....
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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