Allowing tax rates for the country’s highest earners to rise, an idea endorsed by top Democrats, would have a dire effect on the economic recovery, according to a new report prepared for business groups that was released Tuesday.The study from Ernst & Young found that letting tax rates for the wealthiest Americans lapse would sap $200 billion and some 700,000 jobs out of the economy, reduce wages by 1.8 percent and lead to a decrease in investment.
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