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Mr. Obama would raise the top income, dividend and capital-gains rates for "the rich, " substantially increasing the cost of new investment in the U.S. More radically, he wants to lift or eliminate the cap on income subject to payroll taxes that fund Medicare and Social Security.
WSJ: A Liberal Supermajority
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At the same time, deflation eats into the value of homes, increases the cost of investment credit for corporations, reduces profits and even wage packets.
BBC: Q&A: Bank of Japan's inflation target
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Logic would tell me that it created fewer jobs than it replaced, otherwise the cost of the machine would exceed the cost of the attendants and not be a good investment for the parking lot owner.
FORBES: For Small American Manufacturers, U.S. Isn't Big Enough Anymore