of the house all saying if you re a family earning $250,000 or less, you re going to keep your tax cuts. and you have some moderate democrats joining with republicans and saying what alan was talking about, which is this is not the time to raise anyone s taxes in the recession, even on the top 3% of wage earners in this country. however, you do have a bunch of economists who say that those people will continue to spend even if they do get an increase to 39.6%, which just, by the way, returns the wealthy s tax rate to where it was during the clinton years. ali, gloria, there is another aspect to this as well, because the wealthy are going to get hit, as we mentioned, on the dividend side of things, on the capital gains as well. after all, it is primarily the wealthy who are the folks who own stocks. so these tax increases make investing in stocks less
wage earners in this country. you have those who say those people will continue to spend even if they do get an increase to 39.6%, which just, by the way, returns the wealthy s tax rate to wait was during the clinton years. ali, gloria, there s another aspect to this as well. the wealthier are going to get hit on the dividend side of things and the capital gains as well. after all, it is primarily the wealthy who own stocks. so these tax increases make investing in stocks less attractive, and we also do need to rebuild in the stock market. exactly. you did say it s businesses that might be spending now and this is where our worlds collide because there s a world that says don t help people out, in particular look what the big businesses did. however, without them investing