Treasury Secretary Tim Geithner sung sweet music to rich voters today when he implied that the Obama administration will only raise capital gains and dividend taxes to 20% (instead of the 39.6% that some Dems are stumping for).John McKinnon, WSJ:
In a CNBC interview late Wednesday, Geithner said the Obama administration still hopes to hold the top tax rate on both capital gains and dividends to 20% next year – the level the White House has been proposing since taking office.
Of course, a 20% rate would represent a big increase over the current 15%. But it’s a lot better than the 39.6% top rate for dividends that congressional Democrats have signaled they were planning next year for higher earners.
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