ThatiswhyNelsonsaid that moves to changera 9334 before 2011 is "prematureandcompletelyuncalled for" sincethe existinglawhas already provided for an increasein the tax ratesfor cigarettes.
The return of the Pease Amendment, which limits the amount of itemized deductions a high-earner may take, has received little media attention because it is not as easy to explain or quantify as a changeintaxrates.
Their rhetoric often implies not only that lower taxrates stimulate economic activity and tax revenue and that that higher taxrates depressed economic activity and tax revenue, but they often go further and imply that any changeintaxrates would be so powerful as to have Laffer-curve effects.
Earnings of companies do not change when there is a changein individual taxrates, so the value of their common stock does not change for most institutional investors.