The War Against the Wanna Be Rich
January 11th, 2010 - 4:12pm
Filed under Economy
A war was declared on the wannabe rich when the Obama administration announced that people earning over $200,000 a year will pay higher income taxes. Professionals and small-business owners are among the hardest hit. The new law has only furthered the recession causing small business owners to retrench rather than expand by hiring new employees. Business owners fear that the proposed new income, payroll and health-care tax rates along with increased state and local taxes will put up to 70 percent of their income in the government's hands. "[If we] continue to punish and demonize [the productive class], the country will grind to a halt - as we are seeing now." - Real Clear Politics
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