Ah, The 95% “Tax Cut”, which Joe the Plumber asked about and made him a national scourge, has been exposed for what it is: a wealth redistribution plan. Take from the rich, give to the poor, and employ 200,000 bureaucrats to manage it.
And it will make us all rosy cheeked and happy.
Until everybody who is going to get hit figures out how to hide their money, make their businesses move to all cash, ramp up a black market, move headquarters offshore, move more jobs to China and basically make us a nation of criminals with regard to the tax code.
Then the $250,000 income magic number will have nowhere to go but down. Down right smack dab into the middle class where New Jerseyans, Connecticutters, New Yorkers and Massachusettians are in the crosshairs due to our high costs of living.
Think you’ll ever be able to sell your house for more than you paid? (Well, in nominal terms you will, since inflation will probably increase, but still.)
But Obama wants to go ahead and do it. Pelosi and Reid would have something for him to sign on January 21st. Is that Change YOU can believe in?