Liberals Are making Us All Rich
I, like most Americans from the line worker to the boardroom, have been desperately searching for good news in light of our ongoing anemic job and economic growth along with a stagnation in income based upon inflation-adjusted dollars. I believe I have found a beacon in the fog of our economic despair and am somewhat surprised that more learned minds have not. Namely, the number of “rich” has risen greatly since President Obama and Liberals took control of government these last several years.
Think about it. According to President Obama’s latest economic stimulus plan, those earning more than $200,000 ($250,000 for couples) should have their deductions limited (read: taxes increased) as, presumably, they are at least well off, if not rich and thus can afford it.
And in Minnesota, the legislature proposed a bill last year which would have raised the top income tax rate from 7.85% to 9.1% for single taxpayers making over $113,110 per year (or married couples over $200,000). Oregon has a Millionaire’s Tax threshold of $125,000, followed by Hawaii and Maryland at $150,000.
Since 2008, California raised rates on all tax brackets, Delaware raised income tax for people making more than $60,000, and Ohio cancelled a scheduled income tax cut. New York raised its top rate for taxpayers earning over $500,000 from 6.85% to 8.97%.
And on my Planet Jersey, earning $500,000 or more in taxable income gets you the top tax rate of 8.97%. Presumably, 1/2 millionaires and multi-millionaires are of the same cut of cloth: that dreaded “rich” of Dickensian caricature.
The good news is that, as the federal and state budget deficits will continue for the foreseeable future, politicians will need to raise taxes from those on lower income levels which will classify even more of us as “rich.”
Now that’s rich.
-I.M. Windee
