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He is proposing a top tax rate increase to 39.9 percent higher social security taxes and much higher capital gains tax. The last time in American history when we got this massive of a tax increase was during the Hurbert Hoover administration he did the same thing becoming one of the worst presidents in US history…. The result of similar policy were massive unemployment record federal dificits plunging us in to the great depression which took WWII to get us out of. I think Barack is a example of our failed public school system not teaching economics or history making many in the younger generation feel that their ideas are fresh and new, no checking of history to observe what works and what doesn’t, hence the term those who fail to study and observe history are doom to repeat it. It will be a pity if many Americans will suffer from the lack of leadership and disregarding historical facts.
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