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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Humiliation: That's what we feel, watching a poorly educated former ghetto organizer running CIRCLES around every single elected Republican in Congress. Amazing. ANY Republican who votes for ANY direct or INDIRECT tax increase needs to be campaigned out of office OR we need a new splinter party. Boehner created this cliff fiasco and should be given the boot. He's an IDIOT.
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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