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...
In response to:
I can't argue with you....in 2012, the electorate is appreciably more ignorant than they were in 1937. We've had the benefit of 80 years of failed progressive policies to draw upon, and yet the voters are so ill informed and apathetic....that's what free stuff does to the soul.
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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