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Obama's Most Dangerous Tax Hike: Savings and Investments

RedTruck Wrote: Dec 02, 2012 8:05 AM
some of us are at the point where blame is OK - blame Republicans go ahead - blame, blame, blame - if Obama got everything he wanted he still would blame Republicans for everything that goes wrong. It is difficult for hard working citizens to watch a President who instead of doing his job has made his job the destruction of his opposition by Chicago style thug tactics - he has never done one day's work while in Office - not one day's work and here we are people in poverty, devastation in this country - our debt out of sight and he and his family prepare for a four million dollar vacation - it is sickening - sickening and actually it is very possible there will be a new illness Obamastigmantics - disgust from watching this guy.
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.

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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