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Obama Pushes Global Tax

February 16, 2012
Gary DeMar, Godfather Politics

When taxes are high in one state, businesses and individual tax payers have the freedom to move to another state. The number of millionaires who have left New York is getting to Red Sea proportions. Rush Limbaugh moved his operation to Florida, a state that doesn’t have a state income tax. Lebron James was considering joining the New York Knicks until he found out how much he would be paying in New York state and city taxes. Like Limbaugh, he chose Florida. He plays for the Miami Heat.

It’s not just the politicians who want to stick it to the rich. A Siena College poll reported that 72% of New York voters support the tax to avoid further budget cuts. The union-backed “99 New York” rally supported extending the “millionaire’s tax” on New Yorkers with incomes over $200,000. It was due to expire December 31, 2011.

Some people in New York understand the long-term consequences of taxing the rich. Democratic Gov. Andrew Cuomo says taxing high income New Yorkers would send them to the low-tax states of Connecticut and New Jersey, taking their income-tax revenue, job skills, and businesses with them.

The people of New York, like the people in Greece, want their handouts, and they want other people to pay for them. Greece doesn’t have low tax and no-tax states like we have in America. There’s no place to flee. So remedies do companies have when they can’t compete globally because of Federal taxing policies? They move their operations overseas.

And now… the rest of the story. …..

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