This is the happiest thing I have read in quite a while. When Obama finishes beating up Boehner and getting all the tax increases he wants from the Stupid Party, the hammer is going to fall. Where will it fall hardest? Not on the capitalists who make their money on dividends and capital gains. It is going to nail the bluest of the blue states.
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 Party’s “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.
That’s right kids. Regarding closing deductions, it goes on to say which states are going to get hit hardest: California, New York, the District of Columbia, Connecticut and New Jersey. Who gets off easiest? That would be either red states such as Indiana, Alaska or Kentucky, or classic “swing” states such as Iowa and Ohio.
I still oppose the tax increases, but I have to laugh that it is going to hit the basket case blue states the hardest.