"Soak the Rich, Lose the Rich" (drug, Clinton, solution)
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Yes and areas with many very very rich liberals like Hollywood would be the first to go if they got hit with high taxes.
Bill Clinton made sure to have an exception for "entertainers" for very good reason when he hiked up the taxes on the average guy. They may be bleeding hearts but not with their own money and politicians also love their money and political donations a whole lot.
Bingo. The authors of this article put it wonderfully - "Did the greater prosperity in low-tax states happen by chance? Is it coincidence that the two highest tax-rate states in the nation, California and New York, have the biggest fiscal holes to repair? No. Dozens of academic studies -- old and new -- have found clear and irrefutable statistical evidence that high state and local taxes repel jobs and businesses."
Some other wonderful points they made - "In other words, soaking the rich doesn't work. To the contrary, middle-class workers end up taking the hit." and "Since many rich people also tend to be successful business owners, jobs leave with them or they never arrive in the first place. This is why high income-tax states have such a tough time creating net new jobs for low-income residents and college graduates."
Soaking the rich impacts everyone and hurts the poor far more than it hurts the rich. I wish the libs would get it.
This lib does get it. If we shift the taxation to the national level the incentive to leave the high tax states disappears. If we then discourage moving to another country by continuing to tax the expatriates at the same rates they faced at home we would still collect the money. If the expatriates refused to pay their taxes we could just pull their citizenship and leave them at the mercy of the government of their tax haven.
This lib does get it. If we shift the taxation to the national level the incentive to leave the high tax states disappears. If we then discourage moving to another country by continuing to tax the expatriates at the same rates they faced at home we would still collect the money. If the expatriates refused to pay their taxes we could just pull their citizenship and leave them at the mercy of the government of their tax haven.
What is the incentive to be an American at that point? Feel good rah-rah isms? There are plenty of nice countries to move to where you still have gun/free speech rights and are more tax and business friendly.
More jobs have been lost through outsourcing over the past 8 years than ever before. Bush gave the rich tax cuts, and Americans lost their jobs.
Put that little factoid in your drug-filled pipe.
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