Democrats Aim to Raise to Top Rate to 48.8%

The Weekly Standard reports:

According to guidelines prepared by Democratic staff on the tax writing committee—the Ways and Means Committee—for Democrats on the so-called supercommittee: “This proposal would bring the top marginal income tax rate on ordinary income to 40.4 percent for years before 2013, and to 48.8 percent in 2013 and afterwards (after taking into account the expiration of the 2001 and 2003 tax cuts and the 3.8 percent additional tax on unearned income).”

The greed of socialism.