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:
Tot tax the hell out of everyone they can and hand out more freebies to the worthless tools that don't work or add any benefit to society.
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.
- Germany expels US embassy official over spying row Ed Morrissey 42 minutes ago
- Obama’s pathetic border crisis blame shifting Noah Rothman 1 hour ago
- Israel escalates offensive in Gaza, Hamas rocket commander killed Ed Morrissey 2 hours ago
- Video: Hot Air interview with Marco Rubio on border crisis, Hobby Lobby Ed Morrissey 2 hours ago
- Quotes of the day Allahpundit 12 hours ago
- In Illinois and California, public servants skate in police abuse cases Mary Katharine Ham 13 hours ago