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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Are you kidding? Instead of digging for the gas and selling it to reduce the deficit he's going to borrow more from China to SPEND SPEND SPEND, and waste it on more ridiculous stimulus packages which only benefit his cronies and union bosses. Oh, and his favorite, raise taxes on the Rich. Idiot. America would be a prosperous nation again with a sane leader knowing how to use our resources and hardworking people to harvest them, reward small business owners instead of taxing them to death. Instead we're stuck with this Socialist moron for at least 4 more years or until the Republicans finally grow the cojones to impeach him for Benghazi and all the other sleazy stuff he was involved in.
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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