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USA Today reports that "Gingrich slams Obama for tax on millionaire":
Newt Gingrich used a speech on Latin America today to take a dig at President Obama's State of the Union speech.
Obama said anyone making $1 million should pay at least 30% in income taxes, and Gingrich said the economic destruction that would follow would look like Argentina's collapse under former president Juan Peron.
Gingrich said Obama's proposal attacks job creators and would lead to a "dramatic decline in the stock market" that would hurt Americans' pension funds and limit the willingness of wealthy individuals to start new businesses, which would prompt them to further invest overseas.
"There's a chance the president just didn't understand what he said," Gingrich said. "If in fact he meant what he said, I think it's an enormous problem."
Because Bush's tax cuts led to a great economy, amirite?
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