From Stephen Moore of the Heritage Foundation, here:
"When Mr. Obama entered office the capital gains and dividend tax was 15 percent. Then he raised it to 20 percent and then he added a 3.8 percent investment surtax, bringing the rate to 23.8 percent. The tax rose by more than 50 percent. ...
"Wages have stagnated under Mr. Obama as taxes have risen on capital."
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Nice try at hiding the chronology, Moore, but no cigar.
Real median household income and real gross private domestic investment crashed in tandem and in concert with the 2007 recession. The investment side rebounded quickly, but real household income did not, and still hasn't. What's more, the whole phenomenon preceded any increase in the capital gains tax rate, which didn't pass until January 2013, with Republican support by the way.
And it won't do to talk about wages stagnating, either. Real incomes have actually fallen, and fallen big. Employers figured out that the 2008 crisis gave them the cover they needed, their golden opportunity, to shed millions of expensive workers and rehire younger, cheaper ones. It's the biggest scandal in recent history, much bigger than the lies about ObamaCare, but no one is going to talk about it, least of all libertarians who are happy that the business inputs cost less.
The incredible rebound in investment is on the backs of all this labor shed in the crisis, helped along by rock bottom interest rates for those who are first in line for the money: bankers and businesses.
So-called conservatism never looked so bad.
