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:
He's definitely got the 80% right.
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.
- Quotes of the day Allahpundit 6 hours ago
- On notice: Mitch McConnell is ready to “crush” the Tea Party Jazz Shaw 7 hours ago
- Noonan on latest ObamaCare delay: Is there even an ObamaCare law anymore? Erika Johnsen 9 hours ago
- Video: Gates sees defense cuts as showing a lack of seriousness by US Jazz Shaw 10 hours ago
- CPAC: Fred Thompson and Persecuted Ed Morrissey 12 hours ago
- WH: Hey, Obama golfing in Key Largo during this crisis is the same as if he were in DC, only warmer Jazz Shaw 13 hours ago