Let's Put Liberal Tax Policies to the Test

In every recession and the great depression, liberals have always called for higher taxes on the rich. It's been shown that such policies always fail. This recession, however, is different than others. In the current economic climate, we are seeing the so-called "rich" losing money just like everyone else. The meltdown of the mortgage and financial industries has reduced the number who can be considered wealthy dramatically. The press has also been loathe to publish anything that would be contradictory to Obama policies so the debate hasn't even been started.

That's not stopping some states from instituting confiscatory taxes on the segment of the population that government considers wealthy. Those states are the usual suspects including my own state of New Jersey, which has suffered a devastating loss in high-paying jobs due to the previously mentioned economic meltdown since a good amount of executives on Wall St. call the Garden State home.

So let's do a study and see which states make out best. We'll compare New Jersey, Massachusetts, New York, Illinois and California with states like Alaska, Texas and Florida that do not raise taxes and keep policy on the conservative side. Let's see who comes out ahead and who falters. I know the answer as mush as you but it's well past the time we jam in down liberals' throats once and for all.

The Wall Street Journal has a great piece on just what happens when liberal governors and legislatures raise taxes and the response of those who are targeted by the higher rates. It's well worth the time.