Carl Schramm and Doug Schoen say ...

Hikes in marginal tax rates will discourage investment in new ventures. Those who dismiss concerns about "tax hikes on the rich" who can presumably afford to pay more should understand that among those "rich" people are well-to-do older relatives and friends of aspiring entrepreneurs, the first source of investment for most new businesses that would otherwise have trouble securing capital - especially in the midst of a credit crunch.

Ed Kilgore at the link ...

All this is to say that in the eyes of many conservatives, marginal tax rates always have to go lower, no matter what, and any government regulation or mandate is never affordable. They should just call it the 'don't tax rich uncles!' principle, and save a lot of time and trouble otherwise spent in articulating particular versions of this incredibly consistent gospel, that offers economic and political salvation in every imaginable circumstance.

Me like snarky Ed.

Source - The Democratic Strategist