The Real Problem With Obama's Tax Plan
More honest than most conservative efforts in this area but still pretty disingenuous. Apparently if we raise the top rate from 35% to 39% then the rich people of the country (to whom us plebes owe everything) they'll start cheating on their taxes and stop creating jobs.
In general, I can't stand this kind of reasoning. Here in NYC, Mayor Bloomberg recently stated that if you raise the tax rate on millionaires by 1%, it will cause rich flight. What kind of justification is that? What kind of basis is that for enacting or not enacting a policy? How is that not essentially extortion, since these people are using their wealth to avoid any kind of imposition on themselves, however well justified? How is this equality under the law when those of lesser means can't threaten to up and leave to other states/countries whenever a policy is enacted which adversely affects them?
It's complete bullshit, complete pandering to the wealthy, and the country needs to start playing hardball with these avaricious bastards very soon. Like, uniform taxation codes across states for those earning in excess of a certain amount and strict laws for corporate holdings and access to our markets for those who live abroad.
EDIT: I should also note that the very notion that there will be some mass exodus if taxes are raised is largely a myth. We have evidence from NJ since they raised the tax rate on millionaires by .75% (and another .25% on those earning in excess of $5M/yr) a couple of years ago. There was a very small net emigration, but on sum the measure was extremely profitable for the state.
