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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Nothing that Obama does makes any sense if you judge his actions as those of a President "interested" in the welfare of America and its citizens! However, if one steps away from using "Denial" and judges all he has done to America and its citizens as efforts on his part to destroy the America as was founded, then they do make sense. He is and never has been FOR America. He is a Marxist and has openly stated that he seeks to change America "fundamentally". Why won't people 'listen' to him? He works to destroy Capitalism and the opportunity it offers for individual prosperity and upward mobility. He believes in the "collective" and dependency on the State. He talks of "helping the Middle Class". Nothing is further from the truth.
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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