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Obama's Most Dangerous Tax Hike: Savings and Investments

Sonny317 Wrote: Dec 01, 2012 10:39 PM
If taxes are so bad for the economy how is it that the rich keep getting richer and the poor get less and less for work? Something wrong somewhere.
MudontheTires Wrote: Dec 01, 2012 10:49 PM
If taxes are so bad for the economy how is it that the rich keep getting richer and the poor get less and less for work?

The Tax Code taxes income, not wealth. Those who are already wealthy are not hurt, tghose of us who are trying to earn a living are the ones getting screwed.
NW-Res Wrote: Dec 01, 2012 10:41 PM
Government regulations push companies to out source.

Reagan had it correct. "Government is not the solution to our problems. Government is the problem".
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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