From the Wall Street Journal:
…If the Democrats’ millionaire surtax were to happen—and were added to other tax increases already enacted last year and other leading tax hike ideas on the table this year—this could leave the U.S. with a combined federal and state top tax rate on earnings of 62%. That’s more than double the highest federal marginal rate of 28% when President Reagan left office in 1989. Welcome back to the 1970s…
Our Democrats will, as usual, try to sell this as a tax on The Rich – this will be to convince people that they are going after Bill Gates and other bazillionaires. The truth is a bit different – naturally, because Democrats can’t do anything without lying about it. If they really wanted to tax The Rich, they’d propose not an income tax, but a wealth tax. They would impose an annual surcharge of 1% on all cash, stocks and bonds in excess of $5 million dollars. Then they’d be going after the wealth of Bill Gates…but also after the wealth of George Soros. And thus Democrats will never do that – they’ll never, that is, do anything to harm the wealth of the fat cat liberal financial sharks who donate heavily to the Democrat party.
If the Democrats got their way, these taxes allegedly on The Rich would actually fall most heavily on the middle class. And not just any, old part of the middle class but that part of the middle class which is the best educated, most enterprising and most useful to the American economy. If you want to state the truth, then the Democrats propose to protect the super rich while punishing the most hard working and productive part of our citizenry. And that is what we GOPers must make clear – and my plan, as stated a while ago, is to propose in Congress that surcharge on wealth…see how far it gets and when it goes down to flaming defeat, we’ll be able to educate the American people on how big a lie it is when Democrats say they want to “make the rich pay their fair share”.
It is time to call them out – to show the American people that the Democrats are just part of a corrupt Ruling Class with no other interest than personal power and wealth. They suck up the wealth of the most productive citizens so that they can live fat without having to work for a living. That is the true class war we’re having – and their side is winning it because we have failed to demonstrate to the American people just how false the Democrats are. But we can change it, if we but try – if we just have the courage to really box them in and force them to defend the most indefensible part of their program.
Will we do that? Sure, if we find the right person to lead us in to 2012…if we find a fighter who doesn’t care about hurt feelings or getting re-elected. Time will tell if we find such a person….but I think that person is out there, and I think I know who it is…
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