Obama gets the numbers wrong!

posted by
September 19, 2011
Fox News Forum
by John Lott  
Posted in Commentary, PND Commentary

"The justification for President Obama's new proposed tax on the wealthy is wrong on the numbers. Despite the president's claims, millionaires don't pay lower tax rates than middle class workers. His proposed surcharge on capital gains and dividend taxes will raise already high tax rates on high income individuals and force even more investment outside the United States. ... It is true that the 15 percent capital gains and dividend tax rates are lower than the marginal income tax rate paid by a lot of workers. ... But ... corporate income has already been taxed once when the company earned it. In the United States the combined federal and state corporate tax rate is 40 percent, the highest rate in the world." (09/19/11)


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