They think you can just boost somebody’s taxes by 30% and they are just going it sit around and pay it.

The same rationale for raising business taxes. In the happy-happy, libtard dreamland that people like getalife live in, businesses and rich people are all too happy to eat the cost of tax increases.

The reality is that an increase in business taxes will always lead to higher prices, and high earners will simply shelter their income. Low to mid-range income households, as always, are the hardest hit.

TheMightyMonarch on April 2, 2009 at 11:27 PM

… and if the taxes, regulation, and business environment become bad enough, the top income earners will eventually leave. This little kerfuffle about Rush “leaving” New York is nothing compared to what’s in store when the gigantic tax hikes to pay for Obama’s national socialism start to kick in. The top income earners have a degree of mobility ordinary folks cannot fathom. Those who are plugged into the corrupt engine of the Democrat Party, like Soros and his ilk, will reap the rewards of their political connections and avoid most of the taxes… and count the taxes they can’t avoid as a bargain for the benefits Obama brings them. Favoritism from politically controlled markets, plus billions in subsidies, are well worth a dizzying theoretical tax rate that you can shelter a lot of your income from anyway.

Those who don’t benefit from the state-controlled economy will eventually subtract themselves from it. It is very easy for multi-millionaires to decamp to tax havens in the Caribbean and elsewhere, and if enough of them start making quiet inquiries at the same time, it’s not difficult to imagine entire new tax havens being created for them. A little of this is happening now. A great deal more of it is being planned privately. Of course, the very very liberal Hollywood stars will be among the first millionaires to flee, singing hosannas to America’s First Black President over their shoulders as they go.

Not coincidentally, these top income earners are also the top wealth creators. There are only four ways to become incredibly wealthy: earn it, inherit it, win it through blind luck, or seize it with political power. This is true across the planet, in every human society ever created, and every one that will ever exist. Contrary to populist fables, most of the ultra-rich do something to earn it, and a good many of those who inherit it are also taught the skills needed to make their wealth grow. When these people subtract themselves from the economy – at first through tax shelters, reduced spending, and reduced investment, and later by leaving the country – they take both their money and their wealth. These are not the same, and the missing wealth hurts the rest of us a lot more.

We are not left without rich people. We are left with a few lottery winners, and a sea of political apparatchiks who are given their money by even richer political masters. Socialism does not eliminate the super-rich. It merely changes the method of allocating the big bucks, from people with the skills and resources to benefit the economy as a whole, to fundamentally useless people who have good political connections and tend to be ideologically contemptuous of wealth creation. Obamanomics enslaves our children with unsupportable tax burdens, and simultaneously destroys the capitalist system that might have given them a fighting chance to pay those taxes.

Doctor Zero on April 2, 2009 at 11:48 PM

I thought they made NYC a prison a long time ago…

Rhinoboy on April 2, 2009 at 11:40 PM

We need a photoshop of Rush with an eyepatch, a snake tattoo, and a machinegun with a laser sight.

Doctor Zero on April 2, 2009 at 11:51 PM