WSJ’s Stephen Moore: Tax Rate Will Soar to 62% If Dems Aren’t Stopped

http://www.newsmax.com/InsideCover/StepenMoore-WallStreetJournal-democrates-taxes/2011/05/27/id/398034

“If the Democrats' millionaire surtax were to happen — and were added to other tax increases already enacted last year and other leading tax-hike ideas on the table this year — this could leave the U.S. with a combined federal and state top tax rate on earnings of 62 percent,” he figures.

“That's more than double the highest federal marginal rate of 28 percent when President Reagan left office in 1989. Welcome back to the 1970s.”