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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (145620)11/3/2005 1:53:05 PM
From: Lane3  Read Replies (1) of 793891
 
The two options propose four and three tax brackets, respectively, with top rates of 33 percent and 30 percent, down from the present 35 percent.

I read only a bit of the report. Can't stand reading PDF. But I read far enough to see the standard deduction eliminated. I would think that for many/most people that would more than offset the reduction in tax rates. I'm not about to get into this enough to do the math but it looks to me like it could be a tax hike unless the vast majority of your income is from dividends and capital gains.
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