THE PRICE WE ALL PAY FOR HIGH TAX RATES

[HT:MG].
According to a Tax Foundation study on the economic cost of high tax rates:

• Consider the combined effect of Obama's proposal to raise the top tax rate from 35 percent to 39.6 percent and the new surtax; this means high-income households will receive 54 cents rather than 65 cents from every dollar they earn.
• That is, the after-tax reward from earning income falls by 17 percent.
• Based on the research mentioned above, with such large increases in tax rates, we can expect taxpayers facing the top tax rates to reduce their reported incomes by nearly 7 percent.

Moreover, this is a cautious estimate; thus, we might expect an even faster shrinkage of the federal tax base from these tax increases, says the Tax Foundation.

President Barack Obama wants Americans to believe that they can enjoy all of his proposed programs without paying for them because "the rich" will cover the cost.

But taxing "the rich" will only be the start. To get real money, the big spenders are going to have to tax the middle class as well...

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image toon - 1st hcare mny = USam = rich to pay - & you're rich