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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (16720)	4/9/2008 9:19:32 AM
From: Road Walker	Read Replies (1) \| Respond to of 149317

He is talking about 64% marginal tax brackets for entrepreneurs who manage to make some money. You can name all the dislocations in the world, but nothing, nothing will cause more harm than those kind of marginal rates. Any serious investor knows this. These are the rates that JFK, Reagan, Bill Bradley rid us of. To go back here now is folly. I'm not arguing for a 64% tax bracket. But I do think you let the Bush tax cuts expire... or reverse them before they expire. It's not right to have passive income taxed at a much lower rate than actual working income. As for corporate rates, with the tax dodges inherent in the US code the effective rate is actually lower than the "new lower" European corporate rates. In any event we need to reverse the 7 year plunge in the value of the dollar. If that continues it will reduce our standard of living and could lead to some really ugly financial "events".