Exactly!
Obama’s tax plan: First, he promises to end the Bush tax cuts, allowing the top two tax rates to return to 36 percent and 39.6 percent. Second, he promises to end the Social Security payroll tax cap for incomes above $250,000. Individuals making more than $250,000, therefore, would face a 15.65 percent tax rate from payroll taxes in addition to a top income tax rate of 39.6 percent for a combined tax rate topping 56 percent. Individuals living in cities or states with high taxes such as New York City or California would have tax rates approaching 70 percent, levels not seen since Carter was president.
Which Presidnet was it that had a top tax rate of 90%? Roosevelt?
Funny how few people actually paid taxes then, which is the big “d’oh”! that libs like Barack and his mentors have to see for themselves to believe. At some rate, tax avoidance (including downright cheating, barter and black market economic activity, or just refusal to work) overtake collections.
Hedrick Smith’s book of the 1980’s, “The Russians” describe how a resourceful people managed to live and make do even in a totalitarian oppressive economy. Funny how I never could envision it happening here.
History and facts about the failures of scialism and communism are not sufficiently compelling to guys like Barack and his team.