Most politicians, having never actually studied economics or held a private sector job, are shocked to learn that Americans prefer lower taxes to higher taxes. The states with the highest tax burden are losing people to lower tax states. It is even easier for capital to move freely than it is for people. The dollar is tanking against a global basket of currencies because the Obama regime is unfriendly to capital: higher taxes, cap and trade (an energy tax), card check, the seizure of private property from secured creditors of GM and Chrysler in favor of the unions that bankrupted them in the first place, etc. Global investors are therefore fleeing the dollar in pursuit of locales where capital is treated better. Obama has managed to make the USA look like a banana republic in just a few months.
Tax the Rich? How's That Working?
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