Saturday, May 28, 2011

WSJ’s Stephen Moore: Tax Rate Will Soar to 62% If Dems Aren’t Stopped

If the Democrats get their way on taxes, the top combined tax rate would soar to 62 percent, warns economist Stephen Moore. A combination of higher income tax rates, phasing out of deductions, payroll taxes, state taxes, new healthcare taxes, and a 3 percent “millionaire’s tax” would add up fast, Moore says. Essentially, the Democrat’s plan is more Jimmy Carter than Bill Clinton, he writes in an Op Ed for The Wall Street Journal.

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