ANOTHER RUBE GETS A CLUE:
A Democrat of my acquaintance, who makes something, but not a huge something, over $200,000 a year while living in Manhattan, was recently grousing to me about the surtax. “My taxes on a marginal dollar are going to go up almost 1000 basis points!” said he.
This is true, I agreed. And just what, I wondered, had he thought was going to happen if he elected Obama? Not clear. Our subject had listened to Obama talk about taxing people who made more than $250,000, which seemed entirely reasonable; he hadn’t realized that being single, his tax hikes would start much lower than that–that he, too, was “the rich”. Mentally speaking, the rich don’t live in eight hundred moderately roach-infested square feet in an unfashionable neighborhood of New York.
Hope and change.