In the letter to Ms. Pelosi, the 47 Democrats, warned that an increase in the tax rate on dividends would be felt most acutely by retirees living on fixed incomes.
“Raising taxes on capital gains and dividends could discourage individuals and businesses from saving and investing,” they wrote. “We urge you to maintain the current tax rate for both dividend and long-term capital gains taxes.” While Republicans are generally in agreement about continuing the tax breaks for everyone, Democrats have been divided.
Guy Benson is Townhall.com's Political Editor. Follow him on Twitter @guypbenson. He is co-authors with Mary Katharine Ham for their new book End of Discussion: How the Left's Outrage Industry Shuts Down Debate, Manipulates Voters, and Makes America Less Free (and Fun).
Author Photo credit: Jensen Sutta Photography
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