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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deficits are stimulus spending, we have had 5T in stimulus over the last 4 years and yet the economy is abysmal. Worse because of the interest being paid to carry the debt. If anybody is still delusional enough to believe keynesian economics works has not been conscious the last 4 years.
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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