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Or are they no longer a reputable source? From Investor’s Business Daily: Obama has proposed effective tax increases of 20% or more in the two...
Or are they no longer a reputable source?
From Investor’s Business Daily:
Obama has proposed effective tax increases of 20% or more in the two top income-tax rates, phasing out the personal exemptions and all itemized deductions for top earners, as well as raising their tax rates.
He wants a 33% increase in the tax rates on capital gains and dividends, an increase of 16% to 32% in the top payroll tax rate, reinstatement of the death tax with a 45% top rate, and a new payroll tax on employers estimated at 7% to help finance his health insurance plan. He’s also contending for higher tariffs under his protectionist policies.
Finally, he would increase corporate taxes by 25%, though American businesses already face the second-highest marginal tax rates in the industrialized world, thus directly harming manufacturing and job creation while weakening demand for the dollar.