The D.C.-based Tax Foundation says New Yorkers could face a combined income tax rate of near 60 percent.
In the Declaration of Independence, Thomas Jefferson called George III a tyrant for having "erected a multitude of new offices, and sent hither swarms of officers to harass our people and eat out their substance."
What did George III do with his Stamp Act, Townshend Acts or tea tax to compare with what is being done to this generation of Americans by their own government?
While the hardest working and most productive are bled, a third of all wage-earners pay no U.S. income tax, and Obama plans to free almost half of all wage-earners of all income taxes. Yet, tens of millions get Medicaid, rent supplements, free education, food stamps, welfare and an annual check from Uncle Sam called an Earned Income Tax Credit, though they never paid a nickel in income taxes.
Oh, yes. Obama also promises everybody a college education.
Coming to America to feast on this cornucopia of freebies is the world. One million to 2 million immigrants, legal and illegal, arrive every year. They come with fewer skills and less education than Americans, and consume more tax dollars than they contribute by three to one.
Wise Latina women have more babies north of the border than they do in Mexico and twice as many here as American women.
As almost all immigrants are now Third World people of color, they qualify for ethnic preferences in hiring and promotions and admissions to college over the children of Americans
All of this would have astounded and appalled the Founding Fathers, who after all, created America -- as they declared loud and clear in the Constitution -- "for ourselves and our posterity."
China saves, invests and grows at 8 percent. America, awash in debt, has a shrinking economy, a huge trade deficit, a gutted industrial base, an unemployment rate surging toward 10 percent and a money supply that's swollen to double its size in a year. The 20th century may have been the American Century. The 21st shows another pattern.
"The United States is declining as a nation and a world power with mostly sighs and shrugs to mark this seismic event," writes Les Gelb, president emeritus of the Council on Foreign Relations, in CFR's Foreign Affairs magazine. "Astonishingly, some people do not appear to realize that the situation is all that serious."
Even the establishment is starting to get the message.
Losing Jobs Over Ex-Im’s Expiration? Don’t Believe ItLosing Jobs Over Ex-Im’s Expiration? Don’t Believe It | Ed Feulner