RNC Chairman Michael Steele compared President Obama’s proposal for government-run healthcare represented socialism. He’s wrong. He doesn’t go far enough. This has gone beyond mere socialism. In fact, this is beyond even communism.
If Obamacare is enacted, then the American taxpayer will face a higher top marginal tax rate than either communist China or Cuba.
This is not a joke.
We have already commented on how, if enacted, President Obama’s proposal would result in the U.S. having a top marginal tax rate of over 50% – higher than France, Germany and Italy. A recent state by state analysis, however, reveals how truly frightening a prospect we have in front of us.
Thirty nine states would have a top marginal tax rate of over 50%, and in some it would be as high as 57.5%. That’s right, 57.5% – almost three-fifths of everything you earn. In fact, if you live in Oregon, you will have the distinct pleasure of having the second highest top tax rate in the in the world (second only to Denmark). Even if you live in lowest taxing states – the states without an income tax – this proposal will still have you paying a top marginal tax of 47.5%.
The People’s Republic of China has a top marginal tax rate of 45%, and Cuba has a top marginal tax rate of 50%.
This means that every single state would have a higher top marginal tax rate than communist China. Over two-thirds of all stateswould have a higher top marginal tax rate than communist Cuba.
Allow me to stress this point: under these proposals, the top tax rate in the supposedly capitalist U.S would be considerably higher in the supposed capitalist U.S. than in the last remaining bastions of dogmatic Marxism. Words genuinely do fail me.
In any event, it any surprise that the top 5 taxing states have an average unemployment rate a full 1% higher than the national average, and we have calculated that if enacted, Obama’s taxes will total over $4 trillion, or $4,000 per household.
Similarly, is it surprising that the Washington Post today reported that support for Obama’s health care plan has plummeted, with disapproval almost doubling in the last month, particularly independents in particular, where a clear plurality now disapproves of President Obama’s handling of healthcare. Rassmussen polls give President Obama a disapproval index of -7%, (in January, it was at +30)
Whether it be in the plummeting poll numbers, or in the hundreds of thousands marching at tea parties, the message is loud, clear, and unambiguous. The American people will NOT stand for this fundamental violation of the principles our Republic was founded upon. As the rest of the world embraces economic freedom, we can NOT descend into establishing a tax burden even higher here than in the heart of world communism.
President Obama and Congress should take heed. Enough really is enough.