If Obamacare is enacted, then the American taxpayer will face a higher top marginal tax rate than either communist China or Cuba.
This is not a joke.
We have already commented
on how, if enacted, President Obama’s proposal would result in the U.S. having a top marginal tax rate of over 50% – higher than France, Germany and Italy. A recent state by state analysis, however, reveals how truly frightening a prospect we have in front of us.
Thirty nine states
would have a top marginal tax rate of over 50%, and in some it would be as high as 57.5%. That’s right, 57.5% – almost three-fifths of everything you earn. In fact, if you live in Oregon, you will have the distinct pleasure of having the second highest top tax rate in the in the world (
second only to Denmark). Even if you live in lowest taxing states – the states without an income tax – this proposal will still have you paying a top marginal tax of 47.5%.
This means that every single state would have a higher top marginal tax rate than communist China. Over two-thirds of all stateswould have a higher top marginal tax rate than communist Cuba.
Allow me to stress this point: under these proposals, the top tax rate in the supposedly capitalist U.S would be considerably higher in the supposed capitalist U.S. than in the last remaining bastions of dogmatic Marxism. Words genuinely do fail me.
Whether it be in the plummeting poll numbers, or in the hundreds of thousands marching at tea parties, the message is loud, clear, and unambiguous. The American people will NOT stand for this fundamental violation of the principles our Republic was founded upon. As the rest of the world embraces economic freedom, we can NOT descend into establishing a tax burden even higher here than in the heart of world communism.
President Obama and Congress should take heed. Enough really is enough.