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Sunday, July 12, 2009

Obama's War Against the Producers

Victor Davis Hansen lays out what more and more Americans are finding out every day - Obama is engaged in a serious war against the producers in the U.S. in the name of "fairness" for his chosen people:

And the results of the Obama war against them [the Producer class] are threefold: 1) in major key states, the productive minority’s state income taxes will near or exceed 10%; their federal rates will go to 40%; the abolition of caps on FICA will ensure 15% plus of most of their income will go for new Medicare and Social Security bites; and they may well be eligible for a newly proposed punitive health-care surcharge tax of 4-6%.

If one were to add all that up (forget rises in sales taxes, inheritance taxes, luxury taxes, etc.), then one can get to 70% of one’s income.

Yup - 70% marginal rates in Obama's utopia...because they worked so well under Jimmy Carter.