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 agree, but. There are so many folks that have no skin in the game due to Reagan and Bush and then they vote for this idiot. You want big governenmet, well, big government costs money and you gotta help. Cut all the freebees, etc etc. Create an environment of a little buyers remorse.
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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