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...
In response to:
And you know that, in the end, everyone who pays taxes will be footing the bill. If they were serious about the debt, wouldn't they be telling us that every dime raised from these taxes would go towards the debt? Turns out the debt is just another crisis to exploit for the democrats to raise our taxes. And the Democrat Party. And the teachers. And the unions. And the MSM.
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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