Chris Edwards "President Obama’s new tax proposals show that he is not interested in bipartisan tax reform. The plan ... outlined in his State of the Union address is anti-growth, anti-savings, and pro-complexity. Left-wing political consultants might like the plan, but not serious tax reformers. Obama himself has called for simplifying the tax code, but his proposals — including the expansion of tax credits — would make the code more complicated.
"Obama’s worst idea is raising the top capital gains tax rate from 24 to 28 percent, which would come on top of his previous increase from 15 percent. Low capital gains tax rates are not some sort of unjustified loophole. We've had reduced rates virtually the entire time we've had an income tax, and for very good reasons. Low capital gains rates are crucially important for spurring entrepreneurship, investment, and growth."
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Fear this president, but fear more the millions who elected him into office - twice.TD
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