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Obama insists on idea that won’t do any good

November 13, 2012
Gary Andersen, Lee Smith , Fairmont Sentinel

President Obama wants to raise taxes on Americans making more than $250,000 per year. He wants to do that by raising the top marginal tax rate from 35 percent to 40 percent. Static estimates show this will raise about $80 billion in revenue annually. Whether that is true cannot be known for sure, because when taxes go up, the people paying them change their behavior to avoid the penalty. So the government may not get all it estimates.



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