Skip to comments.The Blue-State Suicide Pact (Fiscal Cliff Tax Hikes Will Affect Blue-States the Most)
Posted on 12/05/2012 2:50:49 PM PST by SeekAndFind
With their enthusiastic backing of President Obama and the Democratic Party on Election Day, the bluest parts of America may have embraced a program utterly at odds with their economic self-interest. The almost uniform support of blue states congressional representatives for the administrations campaign for tax fairness represents a kind of bizarre economic suicide pact.
Any move to raise taxes on the rich defined as households making over $250,000 annually strikes directly at the economies of these states, which depend heavily on the earnings of high-income professionals, entrepreneurs and technical workers. In fact, when you examine which states, and metropolitan areas, have the highest concentrations of such people, it turns out they are overwhelmingly located in the bluest states and regions.
Ironically the new taxes will have relatively little effect on the detested Romney uber-class, who derive most of their income from capital gains, taxed at a much lower rate. They also have access to all manner of offshore dodges. Nor will it have much impact on Silicon Valley millionaires and billionaires, or the Hollywood moguls and urban land speculators who constitute the Democratic Partys good rich, and enjoy many of the same privileges as their wealthy conservative counterparts.
The people whose wallets will be drained in the new war on the rich are high-earning, but hardly plutocratic professionals like engineers, doctors, lawyers, small business owners and the like. Once seen as the bastion of the middle class, and exemplars of upward mobility, these people are emerging as the modern day kulaks, the affluent peasants ruthlessly targeted by Stalin in the early 1930s.
The ironic geography of the Democratic drive can be seen most clearly by examining the distribution of the classes now targeted by the coming purge.
(Excerpt) Read more at forbes.com ...
No. 1: Connecticut
Average Tax Increase From Expiration Of Bush Tax Cuts In 2013: $5,783
No. 2: New York State
Average Tax Increase From Expiration Of Bush Tax Cuts In 2013: $5,452
No. 3: New Jersey
Average Tax Increase From Loss Of Bush Tax Cuts In 2013: $5,030
No. 4: Massachusetts
Average Tax Increase From Loss Of Bush Tax Cuts In 2013: $4,272
No. 5: California
Average Tax Increase From Loss Of Bush Tax Cuts In 2013: $4,242
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Rush Limbaugh Show,M-F,12NOONPM-3PM,EST,WABC AM,November 29,2012
Thursday, November 29, 2012 10:11:20 AM · 4 of 90
gov_bean_ counter to Biggirl
Something I haven't seen discussed regarding the magic $250,000 figure is the fact that due to higher costs of living (and the resulting higher wages) in many blue states, this "tax on the wealthy" is most likely going to disproportionately impact Obie voters.
Gonna be a popcorn moment when that reality sets in. Post Reply | Private Reply | To 1 | View Replies
This is the final nail in the coffin of the American middle class.
As we are now witnessing, the UN is creating more regulations that countries are buying into. Even RINOS, who called themselves Conservatives are getting in on the action.
Meanwhile, the middle east is burning and for a reason. The end game is going to be the Islamists vs the Communists, however in order to do that 2 things need to happen.
The destruction of Israel and the fall of Conservatism.
So it’s a win win as far as the rest of us are concerned
Obama believes that he has the Republican House cornered....and maybe he does.
But they don’t have to surrender...like Thelma & Louise they can drive off the cliff.
The “Middle Class” has been defined down by the left to mean, basically, anyone with a job who does not receive welfare. What we used to call Working Class. The true middle class consists of Doctors, Lawyers, Entrepreneurs and high level managers. These people have been redefined as the “Evil Rich”. The truly rich are laughing their butts off and will remain pretty much untouched by tax increases that destroy the real middle class. Ultimately there will be nothing left but the filthy rich and the dirt poor who serve them.
I wonder if these people, once they have 5 or 10K taken out of their pockets, will be honest enough to themselves to connect the dots. Somehow I doubt it - they will blame it on Republicans or George Bush.
In the magical place where democrats live, there is no such concept as personal responsibility. Or cause-and-effect. It’s always someone else’s fault.