Free Republic

We have previously discussed the dangers of increasing taxation in places like New York city. Now it appears that the city is facing a tax-version of the China Syndrome where over-taxation may be causing wealthier families to flee, which increases the need for higher taxes on those remaining. I remain concerned about the incredible spending in Congress and rising taxes in the states as politicians seem to have lost any sense of proportion or balance in buyouts, recovery bills, and public spending. Even the Washington Post is now warning of a “debt tsunami” as the Administration drives up the deficit...