Capital Gains, Jobs-Jobs-Jobs & The Fiscal Cliff

Cato’s Chris Edwards has a good write-up on capital gains taxes, which are set to go up January 1st. Per Edwards, the higher rates will impede investment and entrepreneurship while doing very little to add federal revenue.

Another good write-up comes from The American Consumer Institute, which measures the potential job loss from the rate hikes.

President Obama wants to see these particular taxes rise for those upper-income taxpayers in the interest of “fairness.” My guess is we’ll get to see just how “fair” the impact of a rate hike will be.

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