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If most of your income comes from retirement accounts or pensions, you won't be affected, nor if your income is low enough (15% bracket or lower).

I'm not sure why you exclude the 15% bracket people -- on a relative basis, they are hurt the most. On an absolute basis, they are hurt as much as those in the 25% bracket.

For those in the 15% bracket, qualified divs & LTCGs will TRIPLE -- up from 5% to 15% -- a 10% absolute increase. (I'm clearly ignoring the 0% LTCG that will occur in ... '07? '08?)

For those in the 25% bracket, their rate will "only" go up from 15% to 25%, which isn't even a doubling -- though obviously it is the same 10% absolute increase.

Those in higher brackets will be hurt even more, but I wouldn't exclude the 15%'ers from the discussion, either.

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