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house Bill H.R. 1723

New Tax Brackets for the Rich and Super-Rich

Argument in favor

U.S. income disparity is at a level not seen since prior to the Great Depression. Would raise $78 billion in taxes, according to the Center on Tax Justice.

Argument opposed

High tax rates on the rich come with an unaffordably high price for the U.S. economy in the form of reduced incentives for the rich to work and to save.

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedApril 25th, 2013
    I feel no, due to the disincentive for growth, but many of those rich have achieved "wealth" by cronyism, government-produced wealth, not actual private sector.