States Target the Rich
OPS_admin | May 30, 2009 | Comments 0
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States Target the Rich – ABC News
Revenue-Hungry States Are Raising Taxes on Their Wealthiest Residents
Forbes 400 member B. Thomas Golisano built his fortune in New York and has run for governor there three times. In May he changed his official residency to Naples, Fla. Why? In April New York socked millionaires with a 31% tax hike–raising the tax rate on income over $500,000 from 6.85% to 8.97%. (It also added a 7.85% rate for income over $300,000 for a couple.) Florida has no state income tax.
After decades of competing to cut income tax rates, revenue-hungry states are raising them, especially on wealthy folks. “States are piggybacking off the Obama rhetoric,” says Joseph Henchman, at the Tax Foundation in Washington, D.C.
via States Target the Rich – ABC News.
Filed Under: Economy - Labor
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
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