Aiming for a permanent underclass?
How lovely! So much for all that big talk about how Bush thinks education is paramount for economic success of the next generation.
Under the new law, teenagers age 14 to 17 with investment income will now be taxed at the same rate as their parents, not at their own rates. Long-term capital gains and dividends that had been taxed at 5 percent will now be taxed at 15 percent. Interest that had been taxed at 10 percent will now be taxed at as much as 35 percent.
There's always community college.
full story here.